President Bola Ahmed Tinubu has outlined progress under his administration’s housing initiative, revealing that more than 15,000 housing units are currently under construction across Nigeria, alongside a growing mortgage scheme aimed at improving home ownership.
Speaking as part of updates on the government’s “Renewed Hope Agenda,” Tinubu said the projects span multiple states, with major developments underway in Abuja and Lagos. The administration has also disbursed ₦128 billion in fixed-rate mortgages at 9.75 percent to 1,859 beneficiaries across 25 states, according to official figures.
The housing drive is being positioned as a response to Nigeria’s long-standing housing deficit, estimated to range between 20 million and 28 million units. Government officials say partnerships with institutions such as Family Homes Funds are central to bridging that gap, with plans to deliver up to 500,000 homes targeted at low-income earners.
“This is about restoring dignity through access to decent shelter,” a senior housing official familiar with the programme said. “We are not just building houses, we are creating pathways to ownership.”
Supporters of the initiative point to visible construction sites and the geographic spread of projects as evidence of tangible progress. They argue that the mortgage scheme, with its relatively lower interest rate compared to commercial lending, represents a step toward making home ownership more accessible.
However, questions remain about affordability and inclusivity. Critics note that the average mortgage loan under the scheme, estimated at around ₦69 million, places it beyond the reach of many Nigerians, particularly those earning the current minimum wage of ₦70,000.
Housing advocates warn that without deeper subsidies or alternative financing models, the programme risks benefiting primarily middle- and upper-income earners rather than the most vulnerable groups it aims to support.
“There is progress, no doubt,” said a Lagos-based housing analyst. “But the key issue is whether the average Nigerian worker can realistically afford these homes. That’s where the conversation needs to shift.”
The government has encouraged interested Nigerians to apply through designated channels, emphasizing transparency and fairness in allocation. Officials also say further phases of construction and financing are expected as partnerships expand.
As Nigeria grapples with rapid urbanisation and population growth, the success of the housing initiative may ultimately depend on how effectively it balances scale with affordability, an equation that remains under close public scrutiny.
When I placed the Renewed Hope Agenda before Nigerians, I did not speak of housing in vague terms. I gave my word that this administration would work to make decent homes affordable again, and that a hardworking family, after years of paying rent, would finally have a path to a…
— Bola Ahmed Tinubu (@officialABAT) June 9, 2026