FG sets uniform prices for Renewed Housing Programme
Nigeria set standard rates for homes built through the Renewed Hope Housing Programme that range from 8.5 million to 12.5 million naira based on bedroom count. Housing Minister Ahmed Dangiwa said the uniform pricing promotes equal access for citizens regardless of geographic location while prioritizing civil servants and middle-income workers.
One-bedroom units sell for 8.5 million naira, while two-bedroom properties cost 11.5 million naira, and three-bedroom homes reach 12.5 million naira. Permanent Secretary Shuaib Belgore explained buyers can choose between immediate payment, mortgages, rental arrangements or installment plans to increase accessibility.
The initiative targets 34,500 residential units across 30 states to address a nationwide shortage estimated at 28 million to 50 million homes. High construction expenses and limited financing options prevent many Nigerians from purchasing property as cities expand rapidly.
Sales for completed structures in the northern and southern regions begin soon. President Bola Tinubu’s program prioritizes allocations for government employees, private-sector workers with verified earnings, and expatriates seeking Nigerian residence.
