Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has pledged his willingness to commit to the country’s economic prosperity and development.

The president also enjoined Nigerians not to look back but forward because they have a country that truly cares about them.

He said his administration is setting a goalpost that it intends to win because it understands how to propel the engine of growth, stability, and the economic resurgence of Nigeria.

President Tinubu said this on February 8, in Abuja at the groundbreaking ceremony for the Renewed Hope 3,112 housing units’ pilot project site in Karsana, Abuja.

He said: “Nigerians, Don’t look back, look forward. Be hopeful. Be assured that you have a country that cares about you and you must care about the country. You have heard the data from the honourable minister and his team. What they are about to do to turn the country into a large construction site for housing units.

“That’s all I need to remind you, standing before you as the president of the Federal Republic of Nigeria. I pledge to Nigeria, my country being faithful and committed to the economic development and prosperity of every one of you. We are given a little trust, but we build on that trust to assure you today, tomorrow and day after of prosperity that we can create it.

“You pledge to Nigeria, your country, my country. To be faithful, loyal, and honest. To serve Nigeria with all your strength. You saw it on the field of play yesterday. You are all rejoicing. Every one of us loves victory. We love to win. When you are positive and you are hopeful Nigeria is winning. We didn’t say it would be smooth all the way through. But we are confident that this country will excel in all ramifications. We will defend our unity and uphold our honor and glory in every way possible. Because we are Nigerians, we have no other country.

“Why we are launching a groundbreaking, shelter is a necessity. It’s a human right and we are here just to do that, set the record straight. From this site, groundnut sellers will eat. From this site, water sellers will make a living. From this site, carpenters, and roofmakers, will make a living. Brick and mortar, will stand the test of the time and bring the glory of Nigeria brighter than we met it.

“Here again, let’s talk to Nigerians. Let’s talk to ourselves and see everything positive about our country. Don’t be spoiled. Don’t think of your country negatively. Before I left home this morning, I asked for the pledge, the printout of it and we had to relaunch it. Relaunch it. To be committed to the value, the greatness, the hope of our country. It is our country.

“Congratulations once again everybody on the attainment of victory. Just last night it was a moment of joy for every one of us united as a nation. Very hopeful that it is our turn for the trophy. Awa Lokan.

“Here we are today, we are setting the goalpost right. It means Nigeria is winning the goal. I’ve listened carefully to the able Minister’s view on housing development, he understands how to propel the engine of growth, stability, and economic resurgence of Nigeria.

He added: “They saw the vision when we took the ministry out of the clock room and made it, its independent visionary path for greatness. We know the value of housing. We appreciate the fact that it is an elixir for economic prosperity and job creation and hopefulness.

“The best thing we are doing now is putting housing on the front burner of our needs. I want to say thank you to the honourable minister, the Minister of State, and all civil servants, and thank you to the National Assembly for the accelerated review of the budget when we all work together, we can build together and we can achieve together a great country, for the prosperity of all of us.”

The Minister of Housing and Urban Development, Ahmed Dangiwa explained: “We have designed the Renewed Hope Cities as integrated living communities targeting all income brackets. They comprise one-bedroom blocks of flats, two-bedroom blocks of flats, and three-bedroom blocks of flats; two-, three- and four-bedroom terraces, four-bedroom duplexes, and five-bedroom duplexes.

“On the other hand, we have conceptualized the Renewed Hope Estates to cater to low- and medium-income earners. They comprise one-, two-, and three-bedroom semi-detached bungalows. To enhance affordability and ease of off-take, we used organic designs where one bedroom can be expanded to two bedrooms and three bedrooms as the income of beneficiaries increases over time.

“Furthermore, the program aims to address social inequality by providing a broad range of affordable ownership options. This includes single-digit and up to 30-year mortgage loans to be provided by the Federal Mortgage Bank of Nigeria, Rent-to-Own options where beneficiaries can move in and pay towards homeownership in monthly, quarterly, or annual installments, and Outright Purchase for high-income earners.

“The funding for these projects will come from a mix of sponsors comprising the Federal Ministry of Housing and Urban Development’s budgetary allocation, the Federal Mortgage Bank of Nigeria (FMBN), and Public-Private Partnerships with reputable developers. As you will recall, Your Excellency has graciously approved the total sum of 126.5bn from the 2023 supplementary and 2024 budget for these projects including slum upgrade and urban renewal.

“We have also made cross subsidy a key part of our efforts to enhance affordability for low-medium income earners to foster integrated living.  Under this concept, the housing units built in the Renewed Hope Cities will be sold at commercial rates while a substantial percentage will be sold at concessionary rates to low- and medium-income Nigerians who are members of the Nigeria Labour Congress and the Trade Union Congress.

He stated: “The Renewed Hope Cities and Estates Programme is not only a grand vision; it is a necessity for many reasons. As our population continues to grow, the demand for housing and urban infrastructure is rapidly growing. Our existing cities are grappling with issues like congestion, inadequate housing, and strained infrastructure.

“Furthermore, these projects will also help to alleviate the burden on existing cities and improve the overall quality of life for residents.

“Secondly, Sir, the Renewed Hope Cities and Estates Programme is designed to be a catalyst for economic growth. The construction and development of these new areas will generate employment opportunities, stimulate local businesses, and attract investments. The 50,000 units that we plan to deliver under phase 1 will create 1,250,000 direct and indirect construction jobs. This is in addition to the value chain effects of purchase, supply of building materials, businesses around the construction sites, etc.

“The programme also aligns with Your Excellency’s broader vision of national development. It is a step towards creating smart and modern cities that can compete on a global scale, attracting both domestic and foreign investments. This will not only enhance our country’s image but also position Nigeria as a forward-thinking nation ready to embrace the challenges of the future. The Renewed Hope Cities and Estates Programme is therefore a strategic initiative that addresses multiple facets of development, from urban planning and economic growth to social inclusion and environmental sustainability.

“Your Excellency, Sir, today we are here to kickstart this nationwide Programme with the ground-breaking ceremony for a 3,112-housing unit Renewed Hope City in Karsana, Abuja, the Federal Capital Territory as part of 20,000 housing units to be built in Abuja.

“This project is the pilot under a Public Private Partnership between the Federal Ministry of Housing and Urban Development and a consortium of developers comprising Continental Civil and General Construction and Ceezali Limited signed in December 2023 to deliver a total of 100,000 houses nationwide.

“Under this PPP arrangement, the ministry is creating the enabling environment and facilitating off-takers for the houses through the Federal Mortgage Bank of Nigeria (FMBN) while the developers will source for land and finance the construction. By encouraging these PPP arrangements, we are taking the financial burden off the government while meeting our citizens’ needs for decent and quality shelter.

The minister noted: “We chose to start in the Federal Capital Territory because it is the heart of the nation. We are also impressed that the Hon. Minister of the FCT, Nyesom Wike is committed to the Renewed Hope Agenda, and understands the importance of housing and access roads to residents, and is taking steps to improve infrastructure in the FCT.

“Your Excellency, this ground-breaking is one of many more to follow. We have scheduled the ground-breaking for several additional sites nationwide for the commencement of the Renewed Hope Cities and Estates in this first quarter. This includes 2,500 Renewed Hope City housing units at the Ibeju-Lekki Coastal City, Lagos, the development of a 500-housing unit Renewed Hope Estate in Kano, and 250 housing units in twelve (12) states (2 per geopolitical zone) as Renewed Hope Estates. This amounts to 6,000 housing units under the 2023 Supplementary Budget.

“From the Ministry’s 2024 Approved Budget, we are also rolling out another batch of Renewed Hope Estates comprising 250 housing units each in 6 additional states totalling 1,500 housing units.

“This means from the housing component of the Supplementary Budget and the 2024 budget, in which you graciously approved N100bn and N18.9billion respectively for us to implement our Renewed Hope Cities and Estates and Urban and Slum Upgrading programmes, the Ministry is set to deliver 7,500 affordable housing units that will cater to the average Nigerian worker.

“Our objective is to follow your clear direction in charting a progressive path and demonstrating that your administration has what it takes to set our dear country on the path of sustainable growth and development. And that a better and prosperous Nigeria that cares for its citizens is possible.”