The Federal Government and a consortium, comprising Continental Civil and General Construction Company and CEEZALI Limited, have inked a Memorandum of Understanding (MoU) for the development of 100,000 housing units nationwide through a Public Private Partnership (PPP) arrangement.
The MoU, signed by the Minister of Housing and Urban Development, Ahmed Dangiwa, on behalf of the Federal Government, outlines the consortium’s commitment to provide construction finance and complete the housing units based on agreed designs and prices.
During his address, Dangiwa highlighted that the Federal Ministry of Housing and Urban Development would facilitate the provision of affordable mortgage loans to beneficiaries through the Federal Mortgage Bank of Nigeria. Additionally, the ministry will support in securing legal titles for select lands across the country to expedite the projects.
The housing initiative, named the “Renewed Hope Housing Project,” is set to be implemented in two phases. Phase One aims to deliver 20,000 units in the Federal Capital Territory, while Phase Two targets the construction of 80,000 houses in strategic locations across the six geopolitical zones of the country.
Dangiwa emphasized the potential impact of the PPP arrangement, projecting the creation of 2,500,000 direct and indirect jobs. He underlined the government’s commitment to leveraging private sector investments to address the substantial housing deficit in the country.
Acknowledging the enormity of Nigeria’s housing challenge, Dangiwa stressed the collaborative nature of the effort, recognizing that government budgetary allocations alone cannot adequately address the issue. He encouraged continuous engagement between the consortium and the technical staff of the ministry throughout the project’s lifecycle, emphasizing the importance of timely delivery.
In response, the Executive Director of Continental Civil and General Construction Company Limited, Alamu Adegbenga, and Contract Manager of Ceezali Limited, Sule Wada, assured the Minister of their technical and financial capabilities, citing their track record and experience in delivering similar projects.
