Abuja, July 18, 2024 – The House of representatives has approved an annual budget of N500 billion for the Renewed Hope Cities and Estates development programme.
Abdulmumin Jibrin, the Chairman of the House Committee on Housing and Habitat, announced this on Wednesday.
He assured the minister of their unwavering support to the ministry to achieve its housing development mandate.
The approval follows a proposal by the Minister of Housing and Urban Development, Ahmed Musa Dangiwa.
He stressed the huge gap between the country’s housing needs and budgetary provisions,
Dangiwa said Nigeria required an annual increase of 550,000 housing units over the next decade which would require about N5.5 trillion per year.
“In 2023, we received N100 billion in the supplementary budget, and N80 billion in 2024, which is far from sufficient,” he said.
Dangiwa urged the committee to consider a minimum annual allocation of N500 billion. (GBN)
