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Housing Market Breakthrough! 100K Units Coming as Ministry and Consortium Partner Up

Housing Market Breakthrough! 100K Units Coming as Ministry and Consortium Partner Up.

The Ministry of Housing and Urban Development, in its pursuit of bridging the housing deficit through private-sector collaboration, has signed a Memorandum of Understanding (MoU) with a consortium of renowned developers. Led by Continental Civil and General Construction Company Limited and Ceezali Limited, the consortium will deliver 100,000 housing units across Nigeria.

A press release issued by the Special Assistant to the Minister, Mr. Mark Chieshe, states that the signed MoU marks a significant milestone for the Ministry’s Action Plan and the Renewed Hope Cities and Estates Projects. It highlights the ministry’s renewed focus on Public-Private Partnerships (PPPs) as a central strategy for housing delivery.

The housing units will be delivered in two phases: 20,000 units in the Federal Capital Territory followed by 80,000 units across the six geopolitical zones.

Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, noted that the MoU is the culmination of extensive planning and collaboration, resulting in a robust framework for the PPP’s success.

“Under this partnership,” he explains, “the consortium will finance and construct the housing units based on agreed designs and prices. The Ministry, through the Federal Mortgage Bank of Nigeria (FMBN), will facilitate affordable mortgage loans and land title approvals for the projects, promoting private sector investment in housing.”

“These partnerships leverage the strengths of both sectors, fostering innovation, efficiency, and enhanced access to funding. Our long-term goal is to address the housing shortage and improve the quality of life for Nigerians.”

He further highlighted the project’s job creation potential, emphasizing that the PPP arrangement will create 2.5 million direct and indirect jobs, with 25 jobs per housing unit.

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