OPENING STATEMENT BY THE HONOURABLE MINISTER OF STATE FEDERAL MINISTRY OF HOUSING AND URBAN DEVELOPMENT AT THE YEAR 2025 SECTOR RETREAT HELD ON 19th FEBRUARY 2025 IN RADDISSON BLU HOTEL, IKEJA, LAGOS.
PROTOCOL
Chairman, Senate Committee on Housing and Urban Development
Chairman, House Committee on Housing and Habitat
Chairman, House Committee on Urban and Regional Development,
Distinguished Chief Executives of Agencies
The Media and members of the Press,
Distinguished Ladies and Gentlemen,
It is with great honor and privilege that I stand before you today as we gather for this critical sector retreat. This retreat is not just an assembly of stakeholders; it is a convergence of visionaries, policy-makers, and practitioners, united in our collective ambition to transform the housing and urban development sector in alignment with the Renewed Hope Agenda of this administration.
Housing and urban development are central to National progress. They are key drivers of economic growth, social stability and improved quality of life. However, despite significant efforts in the past, we still grapple with the challenges of a housing deficit, inadequate infrastructure, and rapid urbanization. These challenges demand innovative solutions, bold strategies, and a commitment to collaboration among all stakeholders.
Over the course of the day, we shall be highlighting the progress that we are making towards actualizing the Renewed Hope Agenda of Mr. President for Housing and Urban Development and look forward to feedback from all Participants on the data insights and technical details that will be shared during this retreat.
- The Renewed Hope Agenda: A Strategic Imperative
The Renewed Hope Agenda for housing and urban development is a transformative vision that seeks to ensure that every Nigerian has access to affordable, decent, and sustainable housing. Our mission is clear: to create inclusive cities, unlock economic opportunities in the housing sector, and drive large-scale housing delivery.
Key Strategies for Implementation
To actualize this agenda, we are focusing on the following key strategies:
- Accelerated Housing Delivery at Scale:
- Partnering with the private sector and Development Finance Institutions to unlock funding and drive mass housing projects.
- Expanding the Renewed Hope Estates and Cities Programme and National Housing Programme to reach more States and underserved communities.
- Strengthening Public-Private Partnerships (PPPs) to facilitate large-scale investments in housing.
- Access to Affordable Housing Finance:
- Enhancing mortgage penetration through improved policies and financial incentives.
- Expanding the reach of the National Housing Fund (NHF) and deepening collaboration with Primary Mortgage Banks (PMBs).
- Supporting innovative homeownership schemes, including rent-to-own and cooperative housing models.
- Slum Upgrade and Urban Regeneration:
- Implementing an inclusive Urban Renewal and Slum Upgrade Framework to address informal settlements and slums.
- Strengthening collaboration with State Governments on sustainable city planning.
- Enhancing infrastructure development to improve the livability of our urban centers.
- Innovative Building Technologies and Sustainability:
- Promoting the adoption of local building materials and Green construction practices.
- Encouraging digital technology and automation in housing development.
- Driving climate-resilient and energy-efficient housing solutions.
- Legislative and Policy Reforms:
- Reviewing and streamlining land acquisition and titling processes to reduce bureaucratic bottlenecks.
- Strengthening the Land Use Act (1978) to facilitate easier access to land for housing development.
- Enhancing housing policies that align with global best practices and sustainable development goals.
Identifying Opportunities to Boost Scale and Impact
Beyond strategies, we must explore emerging opportunities that can help us scale our efforts and achieve maximum impact. These include:
- Foreign Direct Investment (FDI) in Housing: Encouraging global investment into Nigeria’s real estate sector.
- Diaspora Investment in Housing Development: Engaging Nigerians in the diaspora in housing finance and property development.
- Institutional Housing Development Funds: Mobilizing pension and sovereign wealth funds for long-term investment in housing.
- Youth and Women Empowerment in Housing Delivery: Supporting skills development and entrepreneurship in the housing value chain.
Call to Action
As we deliberate today, I urge us all to contribute actively to shaping a pragmatic and results-driven Roadmap. We must not only develop policies but also ensure their effective implementation. I assure you of this Ministry’s commitment to supporting policies and programs that will drive affordable housing, improve urban planning, and enhance sustainable development. Working together, we can make the Renewed Hope Agenda a reality for all Nigerians.
Conclusion
Let this retreat be a defining moment in our journey toward a reformed and revitalized housing and urban development sector. Let us seize this opportunity to align our collective efforts, leverage our resources, and implement solutions that will leave a lasting impact on future generations.
Thank you and I look forward to our productive discussions and outcomes.
