By Adaobi Rhema Oguejiofor
The Federal Government has announced plans to allocate the sum of N32 billion to finance special housing initiatives in 2025 and address the country’s ongoing housing deficit.
This was revealed in the 2025 executive budget, noting that the move is part of broader efforts to mitigate the long-standing housing challenges that have affected millions of Nigerians, especially those residing in urban areas.
The allocated funds are expected to be distributed across four key housing programmes, each targeting specific aspects of the housing crisis. The programmes include the Federal Integrated Staff Housing Programme, the Family Home Funds Housing Financing Project which focuses on student housing, the Renewed Hope Agenda Housing Scheme, and the National Housing Programme.
The Federal Integrated Staff Housing Programme is set to receive an allocation of N90,115,000 (ninety million, one hundred and fifteen thousand) to continue its efforts to provide affordable housing for federal workers. This initiative, which has been ongoing for several years, is crucial for improving the living conditions of civil servants, who often face challenges in securing housing as a result of the high cost of accommodation in urban areas.
A significant portion of the fund will also go to the Family Home Funds Housing Financing Project (Student Housing), with N15,471,428,565 (fifteen billion, four hundred and seventy-one million, four hundred and twenty-eight thousand, five hundred and sixty-five) earmarked to develop affordable accommodation for students. This project, which is financed through multilateral and bilateral loans, is aimed at reducing the housing shortage in Nigeria’s higher education institutions by providing safe and affordable housing options for students across different parts of the country.
As for the government’s Renewed Hope Agenda, the sum of N11,500,000,000 (eleven billion, five hundred million) has been allocated for the construction of 20,000 housing units. This aspect of the funds will focus on providing affordable homes for low- and middle-income Nigerians also addressing the pressing need for housing in both urban and rural areas.
Overall, the Federal Government’s National Housing Programme, under the Economic Recovery and Growth Plan, will continue its efforts to provide affordable homes nationwide, with an allocation of about N5,343,802,400 (five billion, three hundred forty-three million, eight hundred and two thousand, four hundred) dedicated to the project. This initiative, which aims to make homeownership accessible to more Nigerians, is designed to reduce the national housing deficit, which currently stands at over 17 million units.
For a very long time, the Nigerian housing sector has faced several challenges, including high construction costs, inadequate financing options, and a growing population that places immense pressure on existing infrastructure.
According to a 2022 report by the World Bank, Nigeria needs at least 700,000 new housing units annually to bridge the housing gap. The government’s intervention comes at a critical time, as rising urbanisation and inflation have further strained the country’s housing market.
With these initiatives, developments and effective implementation, there is hope for a better housing sector.
Meanwhile, the Cross River State Ministry of Housing, led by Hon. Dr. Mrs. Beatrice Ocheke Igwe, is already working on the government’s initiative by officially handing over five hectares of land to Family Homes Funds Limited (FHFL) to construct 70 two-bedroom housing units under the National Poverty Reduction with Growth Strategy (NPRGS) Housing Program.
This initiative, which is part of President Tinubu’s administration’s social housing scheme, aims to support indigent women and includes skill acquisition programs to empower beneficiaries.
The delegation included representatives from FHFL, the National Agency for Science and Engineering Infrastructure (NASENI), and the Ministry of Housing, proceeded to the project site for the official handover and commencement of work.
The project underscores the commitment of the Family Homes Funds Limited, a federal government-owned entity, to providing affordable housing solutions in collaboration with state governments and stakeholders.