RENEWED HOPE HOUSING PPP SUMMIT
Welcome to the Renewed Hope Housing PPP Summit, where we bring together experts, policymakers, and community leaders to discuss innovative solutions for affordable housing.
Building a Better Future for Affordable Housing
SUSTAINABLE & AFFORDABLE HOUSING TECHNOLOGY
The adoption of sustainable and affordable housing technologies is crucial for reducing construction cost by 30-50% and enhance energy efficiency, and promote sustainable housing development.
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TARGET AUDIENCE
Government Agencies
Ministry of Housing and Urban Development, State Governments, and Local Government Councils.
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Private Sector Partners
Real estate developers, construction companies, mortgage banks, and private equity firms.
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International Organizations
World Bank, International Finance Corporation (IFC), and other development agencies.
OBJECTIVE
To convene a high-level summit that brings together key stakeholders, policy makers, mortgage bankers, property developers and government officials to explore innovative Public-Private Partnerships (PPPs) frameworks and strategies for implementing the Renewed Hope Housing vision, aimed at addressing Nigeria’s housing deficit.
ABOUT THE PROGRAM
The Renewed Hope Housing Programme, launched by President Bola Ahmed Tinubu, aims to deliver 50,000 housing units across Nigeria, with a focus on affordable options for low-income earners.The Programme’s emphasis on PPPs and collaboration with private sector developers is expected to drive growth and create jobs in the housing sector.
BACKGROUND
Nigeria’s housing deficit is estimated at 28 million units, with a significant shortage of affordable housing options. a rapidly growing population, urbanization pressures, and a widening housing deficit. Public-Private Partnerships (PPPs)
REAL ESTATE INVESTMENT FUND
MOFI Real Estate Investment Fund (MREIF) demonstrate the government’s commitment to leveraging private sector participation in housing delivery. The Fund, introduced by the Ministry of Finance Incorporated (MOFI), is a testament to the government’s efforts to create a conducive environment.
KEYNOTE SPEAKER
ARC. AHMED MUSA DANGIWA Fnia, Fcib
Honourable Minister of Housing and Urban Development.
SPECIAL GUEST OF HONOUR
SEN. KASHIM SHETTIMA
Vice President Federal Republic of Nigeria
TECHNICAL PRESENTATIONS
- Dr. Armstrong Takang – MD/CEO Ministry of Finance Incorporated
- Mrs. Abimbola Asein – FMHUD – Ministry’s PPP Strategy and Process Framework
- Dr. Jobson Oseodion Ewalefoh - Director-General of the ICRC – on the Policy Framework for PPPs in Nigeria for Housing
- Chinua Azubike - Chief Executive Officer of InfraCredit – PPP Housing Opportunities
- Mr. Aminu Umar-Sadiq – MD/CEO – NSIA – PPP Housing Opportunities Habib Han – MD/CEO – Shelter Afrique Development Bank
Renewed Hope Cities and Estates Programme
The Renewed Hope Cities and Estates Programme with 10,112 housing units under construction in 14 locations nationwide, 252,800 jobs created.
The Renewed Hope Cities & Estates Programme is a nationwide housing delivery initiative of the Federal Ministry of Housing and Urban Development, Under Phase One, the Ministry of Housing and Urban Development plans to deliver 50,000 housing units, comprising seven (7) Cities, one in each geopolitical zone and the Federal Capital Territory, and one (1) Estate in each of the remaining thirty (30) states of the country.
In February 2024, His Excellency, President Bola Ahmed Tinubu, GCFR performed the groundbreaking for 3,112-housing unit Renewed Hope City at Karsana, Abuja
The Project is part of a 100,000-housing unit Public-Private Partnership arrangement with a consortium of developers, with 20,000 units to be delivered in the FCT and the remaining 80,000 in various locations across country.
The projects are designed to be inclusive and integrated and to support Nigerians across various income segments. With organic designs adopted in the Estates to enable expansion from 1-bedroom to two- and three-bedrooms, the problem of affordability is being tackled in an innovative and cost-effective manner. The Cities will have a minimum of 1,000 housing units per site, while the Estates will have a minimum of 250 housing units per site in the remaining thirty (30) States. The Renewed Hope Cities have been designed as integrated living communities targeting all income brackets, and comprising one-bedroom blocks of flats, two-bedroom blocks of flats and three- bedroom blocks of flats; two-, three- and four-bedroom terraces, four-bedroom duplexes, and five-bedroom duplexes.
On the other hand, the Renewed Hope Estates have been designed to cater to low- and medium-income earners. They comprise one-, two-, and three-bedroom semi-detached bungalows.
Affordability is key to government, which is why the houses can be purchased using a number of off-taking options, including NHF Mortgage Loan and Rent-to-Own through the Federal Mortgage Bank of Nigeria (FMBN), Instalmental payment option, and Outright Purchase for those who can afford it. In order to make access easier for Nigerians, a comprehensive portal was launched by the Ministry, serving as a one-stop shop to take a tour of the houses, identify preferred units, choose purchase option, pay or process NHF application, and get a conditional Award Letter right in the comfort of your bedroom.