House of Representatives Approve a N500 Billion Budget Increase for the Housing Ministry.

The Ministry of Housing and Urban Development’s budget has been approved by the House of Representatives to be increased to N500 billion in order to address the nation’s housing deficit.

In a recent meeting in Abuja with the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, this was revealed by Ahmed Lere, the Chairman of the House of Representatives Committee on Housing.

To solve the severe housing shortage in Nigeria, Dangiwa has demanded an increase in the annual budgetary allotment for housing projects.

Despite acknowledging the ministry’s transformative initiatives from the previous year, he bemoaned the inadequate funding it had gotten.

“In the 2023 supplementary budget, we got N100bn. In 2024, we received approval for about N80bn. This is a far cry from what is needed to make a difference,” he said.

He pointed out that more needed to be done by the government to address the housing crisis, and that the revamped home cities and health care program needed to get at least N500 billion in additional funding annually.

The minister emphasized the role that housing plays in boosting local enterprises, generating employment, and enhancing the local economy.

He emphasized that purchasing a home did not come with a free pass because the residences might be sold and the money earned may eventually be recouped.

In addition, Dangiwa brought up the creation of the National Social Housing Fund, which attempted to give low-income workers and the weak access to cheap housing.

He announced that the cash will come from executive directives, donations from the commercial sector, tax incentives, and budgetary allocations, among other sources.

The minister added that better land formalization and the release of land as an asset for economic activity were the goals of the National Land Registration and Titling Programme.

He said that in order to fulfill the objectives of the program, the ministry would collaborate with state governments.

Dangiwa also outlined the difficulties the ministry faces, such as the Land Use Act revision, outstanding debts, and the late distribution of funding.

He also mentioned the need for additional manpower and adequate funding for legal services.

The minister encouraged the House Committee on Housing to keep supporting the ministry’s activities and conveyed his gratitude for their understanding and unwavering support throughout the years.

Lere, meanwhile, was pleased with the minister’s presentation and said it answered the most of his queries and worries.

He emphasized the necessity of more money in order to carry out the administration’s housing policy goals, as stated in the Renew Hope Agenda.

“I believe that together we are going to make history and put an end to that persistent challenge. We are in total support of the Land Commission, and we will play our part to see that we get that done. And I believe that I have the total support of my committee members for us to be able to increase their budgetary allocation to N500bn.

“And let me also say, by that increment, we are not doing them a favour. It is in line with the housing policy thrust of the present administration. So if we are to achieve the policy trust the way it is defined in the Renew Hope Agenda, then we will need that amount.

“If they would not need it, you all know who we are. We will say they do not need it. Perhaps they would need even more, but let’s start with N500bn,” he added.

The chairman of the committee also outlined a number of issues that the ministry must deal with, such as the Land Use Act, legal requirements, liabilities, and a labor shortage.

He asked the ministry to move decisively, assuring the minister of the committee’s cooperation in addressing those challenges.

In order to guarantee a cohesive strategy for resolving the housing shortfall, Lere also emphasized the necessity for the ministry to have control over the coordinating of many housing programs and organizations.

He gave the minister instructions to act as a coordinator and present a more comprehensive picture of the state of the housing sector.

The head of the committee voiced worries about incidents of buildings collapsing and the resulting loss of life and property.

He asked the minister to devise a strategy for combining enforcement and compliance with regulations in the housing industry.