Nigeria's $125M Housing Model Attracts African Interest

The Federal Government of Nigeria presented its $125 million Renewed Hope Housing Public-Private Partnership model at the Second Forum for Public-Private Partnership Units in Africa, held in Addis Ababa, Ethiopia. The presentation was made by Dr Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission.

The forum attracted delegates from 36 countries and focused on enhancing public-private partnerships in various sectors, including housing. Nigeria was one of five countries selected to present projects.

The Renewed Hope Cities programme aims to deliver 100,000 housing units through a joint venture with private sector partners. The model allows private parties to own land, design, finance, and construct homes, while the government reduces investment risks and creates favorable conditions for affordable housing.

The government has secured approximately $19 million in funding from the Federal Mortgage Bank of Nigeria and $20 million from the Family Homes Fund, with additional support from the MOFI Real Estate Investment Fund.