The Federal Ministry of Housing and Urban Development has established uniform sale prices for housing units as part of its ‘Renewed Hope Estate Programme.’ This initiative aims to make homeownership more accessible and equitable across Nigeria.
Under the new pricing structure, one-bedroom semi-detached bungalows will be sold for N8.5 million, two-bedroom units for N11.5 million, and three-bedroom bungalows for N12.5 million. The ministry’s statement emphasizes that these prices promote affordability, transparency, and fairness, ensuring equal opportunities for all Nigerians.
Minister Ahmed Dangiwa highlighted that priority for housing allocations will be given to low and middle-income earners, civil servants, employees in the organized private sector, and Nigerians in the Diaspora interested in owning homes in Nigeria.
To facilitate affordability, various payment options have been introduced, including outright payment, mortgage plans, rent-to-own schemes, and installment payments. The sale of the completed housing units is set to begin soon, with applications available through the Renewed Hope Housing online portal or at the ministry’s headquarters and field offices.
However, the ministry clarified that these prices apply only to the Renewed Hope Housing Estates funded through its budget, distinguishing them from the Renewed Hope Cities in locations like Abuja and Lagos, which are financed through Public Private Partnerships (PPP).
