Tinubuo

The Federal Government has attracted about $125 million in private-sector investment for housing construction through its Renewed Hope Housing Public-Private Partnership (PPP) model, which is designed to deliver homes without direct government financing of construction.

 

Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh, disclosed this while presenting Nigeria’s housing model at the Second Forum for Public-Private Partnership Units in Africa in Addis Ababa, Ethiopia.

 

He said the programme was structured to enable private investors to undertake housing development while the government provides support to reduce investment risks, facilitate financing and ensure that buyers are available for completed homes. Ewalefoh explained that the government’s approach was to use policy measures and financial support to attract private capital rather than bear the entire cost of constructing houses.

 

“Government does not need to finance housing capital projects. It can crowd in private capital through policy, land availability and off-taker facilitation to create a replicable, scalable model for housing delivery,” he told delegates.

 

The housing programme, under President Bola Ahmed Tinubu’s Renewed Hope Agenda, is expected to deliver 100,000 housing units across selected cities in Nigeria through a joint venture concession with private-sector partners.

Nation