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The Federal Government of Nigeria has inaugurated the Renewed Hope Cities and Estate Project Implementation Committee, a pivotal step towards addressing Nigeria's housing challenges and fostering national prosperity and growth.
The committee was inaugurated by the Honourable Minister of State for Housing and Urban Development, His Excellency, Abdullahi Tijjani Gwarzo; the Managing Director of Family Homes Funds Limited, Abdul Mutallab Mukhtar, and the Managing Director of Federal Mortgage Bank of Nigeria, Shehu Osidi.
As an important stakeholder in the delivery of housing in Nigeria, Family Homes Funds Limited is a part of the steering committee comprising public and private sector stakeholders, who will play a vital role in shaping the future of the programme that was recently launched by President Bola Tinubu in Karsana, Abuja.
The committee is poised to lead the charge for sustainable urban development and affordable housing across the country – delivering a key component of the national Renewed Hope Agenda by President Bola Ahmed Tinubu – with strong commitment to unleashing Nigeria’s full economic potential, by focusing on empowerment, job creation, access to capital for small and large businesses, inclusiveness, and the fight against poverty amongst others.
With a shared commitment to innovation, sustainability, and collaboration, the committee pledges to harness its collective expertise and resources to overcome housing obstacles and unlock economic opportunities for all Nigerians.
As part of this national agenda, Family Homes Funds Limited is honoured to contribute its expertise and resources towards this noble cause, reaffirming its dedication to reshaping the housing landscape and improving the lives of Nigerians.
With the inauguration ceremony concluded, the committee embarks on its mission with unwavering determination, knowing that their collaborative efforts will pave the way for a brighter future for generations to come.
The Renewed Hope Cities and Estate Programme is a nationwide initiative for housing development. The programme, led by the Federal Ministry of Housing and Urban Development has an ambition of delivering 100,000 homes across Nigeria, leveraging public-private partnership and utilisation of diverse local content.
Family Homes Funds Limited is playing a critical role in the actualisation of Renewed Hope Cities and Estate Programme, providing funding for the project as the pilot phase kicks off in Abuja where 20,000 of those homes would be built.
Beyond the provision of homes, the programme will generate employment opportunities, stimulate local businesses, and attract investments. According to the Ministry of Housing and Urban Development, the first phase of the programme comprising 50,000 units will create 1,250,000 direct and indirect construction jobs, in addition to the value chain effects of purchase, supply of building materials, businesses around the construction sites.
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