Renewed Hope Cities Draws 100,000 Applications as Housing Projects Expand
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Nigeria's Renewed Hope Cities housing initiative has attracted more than 100,000 expressions of interest from Nigerians as construction advances in Abuja, Kano and Lagos, with thousands of allocations and mortgages already issued.
The Federal Government's Renewed Hope Cities housing initiative has attracted more than 100,000 expressions of interest from Nigerians, as construction progresses in Abuja, Kano and Lagos and plans are drawn up to extend the programme to other parts of the country.
Launched under President Bola Tinubu's administration, the scheme is designed to expand access to homeownership through partnerships between government, private developers, mortgage institutions and participating organisations. More than 10,000 firm subscriptions have reportedly been recorded, while thousands of allocation letters and mortgages have been issued to prospective homeowners, according to the project organisers.
In Abuja, the flagship project at Karsana comprises 2,400 housing units that are nearing completion, with the President having performed its groundbreaking ceremony. The Federal Ministry of Housing and Urban Development is implementing the initiative with developers including Continental Civil and General Construction, Ceezali Limited and Citec International Limited.
A key component is the expansion of mortgage access through the Federal Mortgage Bank of Nigeria (FMBN), following a directive by Tinubu to extend housing finance to contributors to the National Housing Fund. More than 2,000 Nigerians have reportedly benefited from the mortgage scheme, while over 10,000 additional applications are being processed. The Minister of Housing and Urban Development, Muttaqha Rabe Darma, has set a target of at least 5,000 mortgages annually and established a committee to review broader challenges in the sector.
Beyond Abuja, more than 350 housing units have been completed in Janguza, Kano State, with another 650 under construction and due for delivery in March 2027. In Lagos, developers have begun work on 2,004 units along Monastery Road in the Lekki-Epe corridor, where the first 550 units are expected to be completed by April 2027. Additional projects are planned for Jibi and Kagini in Abuja, with other locations identified including Asaba, Ibadan, Katsina, Enugu, the Sagamu-Papalanto Road corridor and Port Harcourt.
The initiative is being financed through a combination of private equity from developers, construction and mortgage financing from FMBN, support from Family Homes Funds and the Nigeria Sovereign Investment Authority, and commercial banking support from Keystone Bank Plc, identified by the organisers as the programme's sole commercial bank partner. Co-operative societies and staff associations have become important channels for mobilising prospective homeowners, with participating groups linked to the NMDPRA, NUPRC, the Nigeria Deposit Insurance Corporation, the Securities and Exchange Commission, Seplat, MTN, Nigeria LNG and PENGASSAN. In one of the largest handovers under the scheme, 430 housing units were delivered to NMDPRA staff and co-operative members on 23 September 2026.