…….Flags off 250-Housing Unit Renewed Hope Estate in Akwa Ibom.
…….Says the housing market has potential to unlock $1 Trillion Economy.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has described housing construction as a key component towards stimulating inclusive growth and helping to attain President Bola Ahmed Tinubu’s mission of lifting 100 million Nigerians out of poverty.
Speaking during the groundbreaking for 250-housing unit Renewed Hope Estate in Akwa Ibom on Friday 28th June 2024, Arc. Dangiwa noted that the housing sector has the potential to trigger a $1 Trillion economy going by the vigour and seriousness with which the president is addressing the housing challenge in the country.
The project, which is part of the Renewed Hope Cities and Estates programme launched by Mr. President with a groundbreaking for 3,112 Renewed Hope City in Karsana, Abuja in February 2024, has further covered states like Kano, with 500-unit Renewed Hope City; and Katsina, Gombe, Yobe, and Sokoto, each with a 250-unit Renewed Hope Estate in the first round of groundbreaking.
The second leg of groundbreaking, which began in Ebonyi on Wednesday 26th June and moved to Abia on Thursday 27th June, and now in Akwa Ibom, will cover eight states in all, including Delta, Osun, Oyo, Benue, and Nasarawa states for 250 housing units in each of these states.
“Our plan is to turn Nigeria into a huge construction site. This estate, like the others, comprises 50 units of 1-bedroom semi-detached bungalows, 150 units of 2-bedroom semi-detached bungalows, and 50 units of 3-bedroom semi-detached bungalows.
“We have designed these housing units in a way that makes them affordable for people to acquire by using organic designs to allow for future expansion as the income of beneficiaries increases. This means that a 1-bedroom unit can be expanded to 2 bedrooms, and a 2-bedroom unit can also be expanded to 3 bedrooms as the owner’s financial situation improves or their family grows,” he said.
Dangiwa underscored the huge economic benefit of housing construction, noting that it goes beyond improving the economies of local communities.
“Statistics show that the construction of one housing unit creates an average of 25 direct and indirect jobs. So, for these 250 housing units in Akwa Ibom, we hope to create jobs for over 6,500 people in various trades, from professionals like architects, civil engineers, and mechanical engineers to masons, plumbers, tilers, electricians, and laborers. We have seen unskilled workers at sites earning as much as N35,000 per week, at an average of N5,000 per day. This amounts to about N140,000 per month.
“This is in addition to the economic activities, including those selling food, supplying blocks, and providing building materials. The value chain effect of construction work on this site is significant and creates a positive economic impact,” he said.
While he thanked the Governor of Akwa Ibom state, Pastor Umo Eno for providing the land for the project at no cost, he urged other state governors to take a cue from the twelve states so far captured under the N50 Billion 2023 Supplementary Budget, assuring them that their states will be included in the 2024 Budget of the Ministry as the Ministry plans to build Renewed Hope Estates in all the states.
“I want to charge the developers, Messrs Trust Global Ltd, Springwell Intercontinental Resources, and Hyousungs Ltd, to ensure that they build according to specifications. I want to emphasize in very strong terms that we will not tolerate substandard work from any developer, and we will explore all necessary legal means, including EFCC, to ensure that they deliver as per the contract. If you collect government money, you must do the work.
“We also want the developers to adhere to the timeline and finish within three months so that we can begin the process of getting Akwa Ibom indigenes to purchase and move in,” he said.
Badamasi Salisu Haiba
Director Information and Public Relations
