The Federal Government is preparing to open an application platform for Nigerians seeking to purchase homes under the 5,000-unit Renewed Hope Housing Programme in Lagos State.

The initiative is being implemented through a partnership between the Federal Ministry of Housing and Urban Development and Harmony Gardens and Estate Development Limited in Ibeju-Lekki.

The development follows the groundbreaking ceremony held over the weekend at Lekki Aviation Town, Yegunda Government Resettlement Scheme, Ibeju-Lekki.

The project is expected to deliver 5,000 housing units across Lekki Aviation Town, The Parliament and GranVille Estate within 36 months.

Ahead of the application portal’s launch, interested Nigerians have been encouraged to explore mortgage financing opportunities through the Federal Mortgage Bank of Nigeria (FMBN) and its affiliated mortgage banks.

Speaking at the groundbreaking ceremony, the Minister of Housing and Urban Development, Muttaqha Darma, disclosed that President Bola Ahmed Tinubu had expressed concern about Nigeria’s estimated 15 million housing deficit, which affects approximately 120 million people.

Darma said the Federal Government was considering a nationwide social housing initiative that would provide 100 housing units in every local government area, alongside a proposed 100,000-unit housing scheme.

He explained that feasibility studies and cost assessments were still underway to account for differences in construction costs across various states.

The Managing Director of Harmony Gardens, Abdullahi Mosadoluwa, said the partnership was designed to improve access to homeownership through organised mortgage financing and flexible payment arrangements.

He urged Nigerians, particularly parents looking to secure homes for their children and members of the diaspora considering returning to Lagos or retiring in the state, to take advantage of the opportunity.

Mosadoluwa also reiterated the company’s commitment to completing all 5,000 housing units within 36 months. He said the development would include supporting infrastructure and sustainable community planning.

Traditional rulers present at the ceremony welcomed the Federal Government’s collaboration with the indigenous property developer, expressing confidence in the company’s ability to execute the project.

They also recognised Harmony Gardens’ contributions to community development, infrastructure delivery and the welfare of communities hosting its projects.

Damola Akinyelure of Metroscape also commended Mosadoluwa’s contributions to the housing sector, particularly his involvement in the delivery of 4,000 housing units in Karsana, Abuja.

The groundbreaking ceremony brought together representatives of the National Assembly, the Federal Government, the Lagos State Government, traditional institutions and members of the business community.

SOURCE: MSME Africa Online