FG Allocates N32bn for Housing Initiatives in 2025 Budget

The Federal Government has unveiled plans to allocate a significant N32 billion for special housing initiatives in 2025, aiming to tackle Nigeria’s persistent housing deficit.

This allocation, which was highlighted in the 2025 executive budget, is part of broader efforts to address the severe housing challenges facing the country, particularly in urban areas.

The funds will be distributed across four key housing programmes, each targeting different facets of the housing crisis.

These include the Federal Integrated Staff Housing Programme, the Family Home Funds Housing Financing Project (focused on student housing), the Renewed Hope Agenda Housing Scheme, and the National Housing Programme.

The Federal Integrated Staff Housing Programme will receive N90.1 million to continue its work in providing affordable housing for federal workers.

This initiative has been ongoing for several years, with the goal of improving the living conditions of civil servants who often face challenges in securing housing due to the high costs in urban centers.

A large portion of the funds, totaling N15.47 billion, will be allocated to the Family Home Funds Housing Financing Project, which will focus on the development of affordable student accommodation.

The initiative, supported by multilateral and bilateral loans, aims to address the housing shortage for students in higher education institutions across Nigeria.

Under the “Renewed Hope Agenda,” N11.5 billion has been earmarked for the construction of 20,000 housing units, with an emphasis on providing affordable homes for low- and middle-income Nigerians.

This initiative is designed to alleviate housing challenges both in urban and rural areas.

Additionally, the National Housing Programme, aligned with the Economic Recovery and Growth Plan, will continue to provide affordable homes nationwide.

N5.34 billion has been allocated to this initiative, which aims to reduce the national housing deficit, currently estimated at over 17 million units.

Nigeria’s housing sector faces numerous challenges, including high construction costs, limited financing options, and pressure from a rapidly growing population.

A 2022 World Bank report highlighted that the country needs at least 700,000 new housing units annually to address the housing gap.

The government’s intervention comes at a critical time, as inflation and rising urbanization continue to strain Nigeria’s housing market.

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