By Ibrahim Salaudeen, Lagos
The Federal Government has commenced construction of a 2,000-unit Renewed Hope Housing Development at Lekki Aviation Town, Ibeju-Lekki, Lagos State, in a move aimed at expanding homeownership opportunities and addressing the country’s housing deficit.
The Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, performed the groundbreaking ceremony on Friday, describing the project as more than a housing initiative, but a strategic investment in job creation, affordable homeownership and sustainable urban development under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Speaking at the event in a keynote address titled “A New Era in Housing Delivery,” the minister said the Federal Government was implementing a comprehensive housing strategy built around four key pillars: increased housing supply, accessible mortgage finance, effective private-sector partnerships and evidence-based policymaking.
He identified the Ibeju-Lekki development, being executed in partnership with Harmony Gardens and Estate Development Limited and Metroscape Development Company Limited, as an example of how government could leverage private-sector capital, land and expertise to deliver housing on a large scale.
The proposed estate will feature two- and three-bedroom homes within the rapidly developing Ibeju-Lekki economic corridor, which has attracted significant investments driven by the Dangote Refinery, Lekki Deep Sea Port and Lekki Free Trade Zone.
Darma also stressed the need for comprehensive regulation of the built environment, noting that stakeholders had reached an agreement on the issue during a validation exercise in Abuja.
He maintained that effective regulation would help prevent building collapses and other challenges associated with professional misconduct and poor practices in the construction industry.
The minister further disclosed that the Ministry was working towards harmonising its agencies into a single coordinating framework to improve access to mortgage financing and make homeownership more achievable for Nigerians.
“A house is only truly accessible when a Nigerian can obtain financing on terms consistent with his income,” he said.
He charged Harmony Gardens and other contractors handling the project to maintain the highest standards of construction safety, quality and environmental responsibility.
According to him, the project’s success would ultimately be determined by the timely delivery of quality and affordable homes rather than the groundbreaking ceremony.
“The success will be measured not by today’s ceremony, but by timely delivery of quality, affordable homes,” he stated.
Representing the Lagos State Governor, Hon. Prince Bayo Balogun acknowledged Harmony Gardens’ contributions to the development of Lagos, particularly Ibeju-Lekki, describing the company as not only an investor but also a philanthropist.
He commended the Federal Government’s 2,000-unit housing initiative and urged more genuine private investors to partner with the Lagos State Government to address the housing deficit arising from the state’s growing population.
Also speaking, the Chairman of the House Committee on Urban Development and Regional Planning, Hon. Awaji Inombek Abiante, called for integrated planning in the execution of the Renewed Hope housing project.
He cautioned that efforts to address the housing shortage must not create additional urban challenges, particularly in transportation, market infrastructure and access to essential amenities.
Earlier, the Permanent Secretary of the Ministry of Housing and Urban Development, Dr Shuaib Belgore, described the development as a significant milestone in the Federal Government’s efforts to provide decent, safe and affordable homes for Nigerians.
He commended the developer for its commitment to the project and called for the timely delivery of a high-quality and sustainable residential community.
Belgore assured that the Ministry would provide institutional oversight and quality assurance to ensure the development meets the required standards and serves as a model for large-scale housing delivery across the country.
In his remarks, the Chief Executive Officer of Harmony Gardens and Estate Development Limited, Abdullahi Saheed Mosadoluwa, commended President Tinubu for what he described as an opportunity for ordinary Nigerians to become homeowners through affordable payment arrangements.
He disclosed that prospective homeowners could access the scheme with an initial deposit of N100,000, while the balance would be spread over 25 years through mortgage financing facilitated by the Federal Mortgage Bank of Nigeria.
He said the arrangement was designed to make homeownership more accessible to teachers, police officers, nurses, civil servants, young entrepreneurs and Nigerians in the diaspora.
The Ibeju-Lekki project is expected to contribute to the area’s expanding residential landscape while providing additional housing options for Nigerians seeking affordable homeownership in one of Lagos State’s emerging economic and investment corridors.
