Senator Gbenga Ashafa, the Managing Director of the Federal Housing Authority (FHA) kicked off the construction of FHA housing units, The Golden Jubilee Estate at Mbora II District in Abuja. The Golden Jubilee Estate is expected to provide approximately 7,000 distinct residential units, making a significant contribution to addressing housing needs. This is part of President Bola Tinubu’s vision to provide affordable housing options for Nigerians.
Through a Public Private Partnership with Nuga Best Regis International, the initial phase will execute 1,200 units. Ashafa highlighted that the estate will incorporate standard infrastructure typical of FHA developments.
The Current State Of Housing In Nigeria.
Nigeria’s housing deficit escalated from 7 million in 1991 to 20 million units in 2019. Now stands at an estimated 28 million units as of 2023. This implies over 28 million homeless individuals, necessitating around N21 trillion for resolution. With a growing population of 200 million, the housing shortfall remains substantial. Experts indicate just 10% of Nigerians can afford homes, in contrast to higher percentages in other countries. While the construction of housing units aims for affordable housing, inflation hinders progress due to reliance on imported building materials.
Also read A Look at the Nigeria Housing Deficit.
Hillary Chukwuma, Chairman of NUGA Best International & Regis Integrated Services Limited Partnership (LP), shed light on the estate’s comprehensive design. Spanning approximately 200 hectares, the estate incorporates plans for essential amenities such as schools, hospitals, recreation centers, markets, shopping malls, a filling station, and a police station. Chukwuma emphasized the evolving nature of work and lifestyles, necessitating residential locations that cater to multifaceted needs seamlessly.
Ashafa underscored FHA’s unwavering commitment to supporting the government’s housing delivery initiative. By harnessing the construction industry’s potential, the authority aims to stimulate employment opportunities and foster economic diversification.
FHA’s construction of housing units with Nuga Best International and Regis Integrated Services LP reflects a recognition of the dynamic changes in housing demands. By aligning their efforts, they contribute to President Bola Tinubu’s larger vision of providing Nigerians with accessible and comfortable housing options.
