As part of his ongoing nationwide assessment of housing projects, the Minister of Housing and Urban Development, Muttaqha Darma, has inspected the Lagos ‘Renewed Hope City’ Project located in Ibeju-Lekki, Lagos State, revealing a 90 per cent completion rate.
The inspection visit was aimed at assessing the progress of the project, which comprises a total of 2,084 housing units, ahead of its planned commissioning in October, a statement from the ministry said.
Darma said the project was being delivered under a Public-Private Partnership (PPP) arrangement between the federal government and private sector developers, saying that the model remains a strategic approach to accelerating housing delivery across the country.
He noted that the FMBN financing would provide shelter for thousands of Nigerians, describing the intervention as a demonstration of the bank’s commitment to delivering on its mandate.
Expressing satisfaction with the level of work completed, Darma stated that the project was nearing readiness for offtake. “I have seen more than 80 per cent completion. In fact, I can say between 85 and 90 per cent because all of the houses already have fittings. Some of them are ready for occupation,” he said.
Speaking during the inspection, the Managing Director/Chief Executive of FMBN, Shehu Osidi, reaffirmed the bank’s commitment to delivering affordable housing solutions and ensuring that completed homes reach their intended beneficiaries.
Osidi urged developers to adopt faster delivery timelines to enable beneficiaries to take possession of completed housing units without unnecessary delays.