FG releases Renewed Hope housing prices, N8.5m for one-bedroom, N12.5m, 3-bedroom

In a bold move to bridge Nigeria’s housing gap, the Federal Government has announced uniform pricing for its Renewed Hope Estate housing units across all 36 states, aiming to promote fairness and affordability for aspiring homeowners.

Unveiling the pricing structure in Abuja, Minister of Housing and Urban Development, Ahmed Dangiwa, said the initiative is designed to ensure transparency and equal access to homeownership, regardless of location.

Under the new rates:

     One-bedroom semi-detached bungalow: ₦8.5 million

    Two-bedroom unit: ₦11.5 million

     Three-bedroom unit: ₦12.5 million

Dangiwa emphasized that priority will be given to low- and middle-income earners, civil servants, private sector workers with verifiable income, and Nigerians in the Diaspora seeking to invest in property back home.

“This pricing model reflects our commitment to fairness. Every Nigerian deserves a shot at owning a decent home, whether they live in Lagos, Kano, or Bayelsa,” he said.

Permanent Secretary of the ministry, Dr Shuaib Belgore, added that multiple payment options have been rolled out to ease affordability. These include:

    Outright purchase

    Mortgage financing

    Rent-to-own schemes

    Flexible instalment plans

The Renewed Hope Estate Programme is a flagship component of the administration’s broader housing reform agenda, aimed at reducing Nigeria’s housing deficit and making homeownership a reality for millions.

With the housing sector long plagued by affordability challenges and uneven access, the government’s latest move is seen as a step toward inclusive urban development and economic empowerment.