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Otti Appreciates FG for Renewed Hope Housing Estate

Governor of Abia State, Dr Alex Otti, has expressed the gratitude of his State for the 250 housing units the Federal government brought to the State under it’s Renewed Hope Cities and Estates Programme

He said, “Abia state is wonderfully grateful for the gift of the houses ”

The Governor made this statement during the groundbreaking of 250 Renewed Hope Housing Estate at Bende Local Government Area, near Umuahia, the Capital City of Abia State, Thursday, June 27th, 2024.

The Federal Government through the Ministry of Housing and Urban Development is building 50,000 housing units under phase one of its Renewed Hope Housing Cities and Estates Programme across the nation.

A groundbreaking and foundation laying for the construction of 250 Renewed Hope Estate was performed by the Governor along side Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa.

Governor Otti, who spoke through his deputy , Engr Ikechukwu Emetu commended President Bola Ahmed Tinubu and the commitment of Minister Ahmed Dangiwa for the housing initiative

“This is what a responsible government is supposed to do and we are seeing it now under the present government” he added

Minister Dangiwa told the developers of the Renewed Hope Estate project across the country to ensure completion of the project within three months stipulated period to enable Nigerians in the respective states occupy the houses as quickly as possible.

The ground-breaking event in Abia State was a follow up of Renewed Hope Cities and Estates programme launched by President Bola Ahmed Tinubu in February 2024.

The second round of groundbreaking covers eight states in the South and North-Central zones of the country, namely; Ebonyi, Abia, Akwa Ibom, Delta, Osun, Oyo, Benue and Nasarawa State, each comprising 250 housing units, and making a total of 2,000 units in the round.

Dangiwa said “ By the end of this second round, we would have broken ground for a total of 6,612 housing units across the country since February this year, creating direct and indirect jobs for over 165,000 at an average of 25 jobs per unit”

The 250 housing units in Abia, just like in each of the states, will consist of 50 units of 1-bedroom semi-detached bungalows, 150 units of 2-bedroom semi-detached bungalows, and 50 units of 3-bedroom semi-detached bungalows.

On the sales for the houses, the minister said “We have created different options to enable everyone who has a source of income and livelihood to own these homes when they are completed”

He listed the options to include; single-digit mortgage loans that beneficiaries can repay over 30 years; rent-to-own schemes provided by the Federal Mortgage Bank of Nigeria, and outright purchase options for those who can afford to pay upfront.

The housing units were designed in a way that makes them affordable by using organic designs to allow for future expansion as the income of beneficiaries increases.

A 1-bedroom unit is expandable to 2 bedrooms and a 2-bedroom unit can also be expanded to 3 bedrooms as the owner’s financial situation improves or their family grows.

Accordingly, the Minister disclosed that the 12 Renewed Hope Estates flagged off so far are being funded under the N50 billion 2023 Supplementary Budget approved by the President for the projects.

Similarly, he also assured that states not captured in the 2023 Supplementary Budget will be included in the Ministry’s 2024 Budget, urging other state governors to provide land needed to implement the project in their states.

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