Abuja, Nov. 19, 2024 -The Federal Government plans to increase its annual housing budget to a minimum of N500 billion from 2025.
Ahmed Dangiwa, the Minister of Housing and Urban Development, disclosed this while featuring on the Meet the Press Forum organised by the Presidential Digital Strategy and Communications team.
He said this became necessary as the current N50 billion annual budget was inadequate.
Dangiwa said the federal government needed N5.5 trillion yearly to bridge the housing deficit in the country.
He said the federal government had created more than 252,000 jobs through its housing projects under the Renewed Hope Agenda.
Dangiwa said the housing projects included the construction of more than 10,000 housing units across the country.
The minister said an average of 25 jobs had been created from each housing unit to bring the total to over 252,800 jobs.
He said the professionals that were getting the jobs ranged from architects, engineers, and surveyors to masons, carpenters and plumbers, to labourers.
“At an average of 25 jobs per housing unit, we have directly and indirectly created over 252,800 jobs across the country.
“From architects, engineers, and surveyors to masons, carpenters, plumbers, and general labourers, the Renewed Hope Cities and Estates Programme is revitalizing communities and providing meaningful employment opportunities,” he said.
The minister described the Renewed Hope Cities and Estates Project as vital part of government’s strategy to address Nigeria’s housing deficit while driving economic development.
He said the projects had provided jobs also positive economic impact of these jobs for many workers who earned daily wages of about of N5,000. (GBN)
