Tinubu affordable housing progress gains momentum as over 15,000 housing units are under construction across Nigeria, President says

President Bola Tinubu has said his administration’s housing reforms under the Renewed Hope Agenda are delivering tangible results, with more than 15,000 housing units currently under construction nationwide and thousands more nearing completion in key urban centres.

Also read: Atiku accuses Tinubu of neglecting abducted Oyo schoolchildren

In a statement shared on X on Tuesday, Tinubu said the government was fulfilling its commitment to expand affordable homeownership opportunities for Nigerians through large-scale housing developments and reforms across the housing value chain.

The President said the administration had initially targeted the construction of 100,000 housing units nationwide, with 50,000 planned for the first phase through city-scale developments spread across the six geopolitical zones and the Federal Capital Territory.

Tinubu said significant milestones had already been achieved under the programme.

According to him, more than 3,000 housing units have been developed at Karsana in Abuja, while the 2,000-unit housing estate in Ibeju-Lekki, Lagos State, has reached an advanced stage of completion, with sales already underway.

The President said the broader national programme has now expanded beyond the drawing board, describing the ongoing construction activity across the country as evidence of measurable implementation.

Addressing longstanding structural challenges in the sector, Tinubu said the administration had introduced reforms aimed at improving land titling, housing finance and construction efficiency.

He disclosed that the Federal Government was collaborating with the World Bank to expand formal land registration nationwide, with the goal of increasing registered land ownership from less than 10 per cent to about 50 per cent.

According to the President, reforms have also strengthened equipment leasing frameworks, allowing contractors easier access to critical construction machinery while providing greater certainty for investors and financiers.

Tinubu further said the government had introduced uniform pricing for housing units to improve transparency and reduce opportunities for corruption.

Regional construction materials hubs are also being established across the six geopolitical zones to help lower building costs and encourage the use of local resources.

On financing, Tinubu said the MOFI Real Estate Investment Fund had enabled 1,859 families across 25 states to access mortgages valued at ₦128 billion.

The mortgages carry a fixed interest rate of 9.75 per cent and repayment periods of up to 20 years.

The President described the financing initiative as a powerful step towards making homeownership more accessible to ordinary Nigerians who had historically struggled to obtain affordable mortgage facilities.

Tinubu also highlighted the role of the Family Homes Funds programme, which he said remains focused on supporting low-income earners and vulnerable groups while working towards a target of 500,000 homes and approximately 1.5 million jobs.

Despite the progress, the President acknowledged that Nigeria’s housing deficit remains substantial and would require sustained effort over several years to address fully.

He said the administration was focused on building an integrated housing ecosystem in which land administration, construction, materials supply, equipment access, financing and homeownership operate in a coordinated manner.

Tinubu argued that housing should no longer be viewed solely as a welfare issue but as a strategic driver of economic growth, noting that real estate and construction have become increasingly important contributors to national output.

Also read: President Tinubu at Three: Advancing skills development, strengthening TVET, and building a globally competitive Nigeria

The President maintained that the ongoing reforms demonstrate that the Renewed Hope Agenda is moving beyond policy declarations to practical delivery, with the ultimate goal of ensuring that more Nigerians can own decent and affordable homes.