FG Targets N300bn From Sales Of Houses In Two Years, Says Minister

The Minister of Housing and Urban Development, Ahmed Dangiwa, has said that the housing ministry can generate N300bn from the sale of houses in two years.

According to a post on the ministry’s website, Dangiwa made this disclosure while briefing the Senate Committee on Lands, Housing, and Urban Development during their oversight visit to the ministry.

It stated, “While fielding questions from the journalists during the oversight visit, the housing minister was delighted to inform that the Senate Committee advocated more funding for the ministry to the tune of N500bn, further expressing hope that the ministry can return up to N300bn to the coffers of government from the sale of houses in two years, given a budgetary allocation of N500bn.

He also noted that the ongoing efforts of the ministry were highly appreciated by the Senate Committee, having done groundbreaking for the Renewed Hope Cities and Estates in 13 sites, which is funded by the 2023 supplementary budget.

“We also took them through the public-private partnerships that we are doing with some of the reputable developers, to which Karsana is one of them, where we are building 3112 units; we have also discussed the Slum Upgrade and Urban Renewal, which cuts across 28 sites across the country. Most of these projects are almost completed, and we are about to commence the 2024 budget,” he added.

Furthermore, Dangiwa disclosed that 1000 housing units of the Renewed Hope Cities were slated to be delivered by the end of the year, with the other units to be delivered by mid next year for commissioning by President Bola Ahmed Tinubu at the pilot phase of the project in Karsana, Abuja.