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Following President Bola Tinubu’s new agenda, Nigerians will pay between N9 million and N22 million to acquire a one-bedroom apartment under the Renewed Hope Estates Programme.1.2.2. 18+ 2:03 M!NUT£S 18+ S££ H0T $£X T4P£, V!D£0 CLIPS. 👉 :http://bit.ly/3O9nC3J, :http://bit.ly/3O9nC3J, http://bit.ly/3O9nC3J, The Minister of Housing and Urban Development, Musa Dangiwa, made this known during his presentation at the State House Gallery, Aso Villa. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
According to the minister, government-funded one-bedroom apartments will cost between N8 million and N9 million.
He noted that those developed through Public-Private Partnership (PPP Renewed Hope Cities) will cost N22 million.
Dangiwa pointed out that the pricing of the properties differs due to changes in funding systems, as the Renewed Hope Estates are funded through budgetary provisions, including infrastructure subsidies and free land, which ensures affordability.
The minister said: “A one-bedroom apartment at the Renewed Hope City in Karsana, built under a PPP model, costs about N22 million, whereas a similar unit under the Renewed Hope Estates, funded through budgetary allocations, costs approximately N8–9 million.
“The difference lies in the cost of finance. Under the Renewed Hope City model, developers purchase the land and secure financing at double-digit interest rates, while as government, we facilitate a Bankable Offtaker Guarantee from the FMBN. In contrast, Renewed Hope Estates are funded with interest-free allocations from the budget. State governments provide free land, and infrastructure costs are subsidized and excluded from the housing unit prices.”
Explaining the reason behind the PPP model, the Housing Minister cited Nigeria’s housing shortfall, which will require 550,000 units per year for the next decade at an estimated cost of N5.5 trillion.
He noted that budgetary allocations alone are insufficient, making public-private partnerships a vital tool for scaling up housing delivery.
1.2.2. 18+ 2:03 M!NUT£S 18+ S££ H0T $£X T4P£, V!D£0 CLIPS. 👉 :http://bit.ly/3O9nC3J, :http://bit.ly/3O9nC3J, http://bit.ly/3O9nC3J,
Dangiwa claims that the PPP-driven Renewed Hope Cities will cater to high- and middle-income earners who can afford market-rate housing, while the Renewed Hope Estates are designed for lower-income groups to ensure equitable access to housing..… Read -T.he .Full _Article .Here..
