![Pinterest](https://pinterest.com/pin/create/button/?url=https://abcnews.com.ng/fg-eyes-n500bn-annual-housing-budget-to-tackle-deficit-says-minister-dangiwa/&media=https://abcnews.com.ng/wp-content/uploads/2024/11/IMG-20241119-WA0011.jpg&description="We’ve engaged National Assembly leadership, and they have expressed support for this crucial move," he added.){kind=link}
The Federal Government is pushing to raise the annual housing budget to at least N500 billion, starting from the 2025 budget cycle, Minister of Housing and Urban Development, Ahmed Dangiwa, revealed on Monday.
Speaking at the Meet the Press forum hosted by the Presidential Digital Strategy and Communications team, Dangiwa emphasized the urgent need for increased funding to address Nigeria’s housing crisis.
“With only N50 billion allocated annually for housing, we are far from the N5.5 trillion required yearly to meet the nation’s housing needs,” Dangiwa noted.
He explained that the proposed increase would enable the government to expand housing projects to all 36 states, increasing the number of units per state from 250 to at least 500 under the Renewed Hope Housing Programme.
Dangiwa highlighted the ministry’s commitment to diversifying funding through Public-Private Partnerships (PPPs) while advocating for direct government investment.
“We’ve engaged National Assembly leadership, and they have expressed support for this crucial move,” he added.
The bold proposal signals a major step towards bridging Nigeria’s housing deficit, a key priority of President Tinibu’s Renewed Hope Agenda.
About The Author
