The Federal Government has approved uniform prices for all housing units under the Renewed Hope Housing Programme in a move aimed at promoting affordability, fairness, and equal access for Nigerians across the country.
According to the announcement, the new pricing structure sets the cost of a one-bedroom semi-detached bungalow at ₦8.5 million, a two-bedroom semi-detached bungalow at ₦11.5 million, and a three-bedroom semi-detached bungalow at ₦12.5 million.
The Ministry of Housing and Urban Development explained that the decision to adopt uniform prices nationwide was part of the government’s broader effort to make homeownership more accessible, transparent, and equitable for citizens, regardless of location.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority allocation will be given to low- and middle-income earners, civil servants across all levels of government, employees in the organised private sector with verifiable income sources, and Nigerians in the diaspora seeking to own homes back home.
He added that the initiative aligns with the administration’s Renewed Hope agenda, which aims to close Nigeria’s housing gap and expand affordable housing opportunities.
Providing further details, the Permanent Secretary of the Ministry, Dr. Shuaib Belgore, said several flexible payment options have been introduced to ensure that prospective homeowners can participate according to their financial capacity. These include outright (full) payment, mortgage financing, rent-to-own arrangements, and instalment payment plans.
“This approach ensures affordability and fairness, enabling more Nigerians to access decent and affordable housing,” Belgore said.
The Renewed Hope Housing Programme is a flagship initiative of the Federal Government designed to deliver affordable homes across the country. It features large-scale “Renewed Hope Cities” in each geopolitical zone and “Renewed Hope Estates” in 30 states, targeting the delivery of at least 34,500 housing units nationwide.
The programme’s financing structure allows for a range of ownership models, including mortgage, rent-to-own, and public rental schemes. An online housing portal has also been launched to streamline applications and improve transparency.
Nigeria’s housing deficit is currently estimated at around 28 million units, with some experts placing the figure closer to 50 million. The gap continues to widen due to rapid urbanisation, high construction costs, and limited access to affordable mortgages.
By introducing uniform pricing under the Renewed Hope Housing Programme, the Federal Government aims to bridge this divide, stimulate construction activity, and make homeownership a realistic dream for millions of Nigerians.
