Lagos Renewed Hope City 80 per cent completed – Dangiwa

The Federal Ministry of Housing and Urban Development, says the ongoing construction of 2000 housing units Renewed Hope City at Ibeju Lekki, Lagos State, has reached 80 per cent completion.

The Minister of Housing and Urban Development , Ahmed Dangiwa made this known in a statement after an inspection visit to the site.

The statement signed by the Director, Press and Public Relations, Badamasi Haiba, said the project would be ready for Presidential inauguration soon.

“The Ibeju Lekki Renewed Hope City project is 80 per cent completed, with over 700 housing units under phase one ready for commissioning.

“The administration of President Bola Tinubu is currently building seven Renewed Hope Cities, one in each geo- political zone and Abuja, FCT.”

Dangiwa said the foundation laying for the second phase of the Lagos Renewed Hope City houses would be done by the President after the commissioning of the 700 units of the first phase.

He added that the Lagos Renewed Hope City, when fully completed, would deliver 2,000 housing units.

He said the project underscored the commitment of President Tinubu to bridging housing deficit in Nigeria.

According to the minister, the Renewed Hope Cities and Estates initiative nationwide is aimed at providing decent and affordable housing for Nigerians.

Dangiwa also visited Lekki Economic Trade zone as part of the Lagos tour activities.
He inspected various housing projects, industries, building materials, testing laboratories, the deep sea port, Alaro City, Lagos Coastal City, and other ongoing developments.

He commended the Lekki Worldwide Investments for providing a strategic site for the Federal Government Building Materials Manufacturing Hub within the Lekki Free Trade Zone.

He explained that the ministry planed to establish six Building Manufacturing Hubs, one in each geo-political zones, aimed at reducing housing production costs through facilitation of production of local building materials.

He disclosed that an investor has already been secured for the manufacturing hub project, which would cut Nigeria’s housing deficit by boosting local building materials production.

“The hub will promote local content, curb rising costs of materials, encourage domestic production, and ensure sustainable housing delivery nationwide,” he said.

Dangiwa said the intermodal transport infrastructure in Lekki, including a seaport, airport, rail and roads, would support the effectiveness of the hubs.

The minister added that the infrastructure would attract real estate investments, as housing is required to support these developments.

Dr Muhammad Abdul, Executive Director, Loans and Mortgage Services, Federal Mortgage Bank of Nigeria (FMBN),said the Ibeju Lekki houses were designed to be affordable and accessible to workers and cooperative societies, with the bank providing the lowest interest rates in the market.

Earlier, the Managing Director and Chief Executive of Lekki Worldwide Investments Ltd., Adeniyi Akinlusi briefed the minister on projects, noting that the free zone was designed to stimulate growth, reduce imports, attract investment, create jobs and boost housing.