The Federal Government of Nigeria has announced plans to deliver 100,000 social housing units for vulnerable groups across all 774 Local Government Areas (LGAs), as part of its Renewed Hope Cities and Estates Programme.
Thank you for reading this post, don't forget to subscribe!Minister of Housing and Urban Development, Ahmed Dangiwa, made the announcement during the 4th Real Estate Future Forum in Riyadh, Saudi Arabia, calling on global investors to tap into Nigeria’s multi-trillion-dollar housing sector.
Dangiwa revealed that Nigeria faces a housing deficit of 28 million units, worsened by rapid urbanization and migration, but offers enormous investment opportunities. Nigeria’s real estate sector contributed 5.2% to GDP in 2024, with a projected market volume of $2.25 trillion by 2025.
To address affordability challenges, the government is introducing:
✅ National Social Housing Fund for long-term concessional financing
✅ Single-digit mortgage rates via a ₦500 billion recapitalization of the Federal Mortgage Bank of Nigeria
✅ PropTech initiatives for digitized property transactions, in collaboration with the World Bank
✅ Building Materials Manufacturing Hubs to cut import reliance, reduce costs, and create jobs
Dangiwa reaffirmed Nigeria’s commitment to housing accessibility, urging investors to leverage incentives such as low-interest financing, offtake guarantees, and facilitated land access.
