The Federal Government has partnered with Harmony Gardens and Estate Development Limited and Metroscape Development Company Limited to build 2,000 housing models at Lekki Aviation Town in Ibeju-Lekki, Lagos State, underneath its Renewed Hope Housing Programme.
Speaking on the groundbreaking ceremony on Friday, October 30, 2026, the Housing Minister Muttaqha Rabe Darma stated the undertaking would broaden entry to homeownership and strengthen private-sector participation in housing supply.
The growth will probably be delivered underneath a public-private partnership (PPP) association and can comprise two-bedroom and three-bedroom homes in the fast-developing Ibeju-Lekki hall.
Partnership to ship 2,000 homes, 50,000 jobs
Speaking on the ceremony, Darma stated the undertaking would prolong the Federal Government’s housing growth programme in Ibeju-Lekki and generate vital employment alternatives throughout building.
He stated the event was anticipated to generate greater than 50,000 jobs throughout the 2,000 housing models, whereas creating tens of millions of productive man-hours over the course of the undertaking.
- “Our partnership with Harmony Gardens and Metroscape together will deliver two- and three-bedroom homes,” Darma stated.
The minister referenced N78 billion as a part of the undertaking’s funding however stated the determine didn’t totally seize its wider financial contribution by means of employment and productive exercise.
- He described the event as a part of President Bola Tinubu’s Renewed Hope Agenda, which he stated was geared toward turning housing insurance policies into homes, jobs and broader financial progress.
- Darma additionally urged members of the National Youth Service Corps (NYSC) to volunteer on the undertaking to achieve sensible expertise and develop skilled and technical expertise.
The minister stated the undertaking’s success wouldn’t be measured by the groundbreaking ceremony however by the completion of all 2,000 homes on schedule, at their printed costs and to the required high quality requirements.
Darma requires housing trade regulation
Beyond the development undertaking, Darma stated the Federal Government was working to introduce stronger regulation and coordination throughout Nigeria’s housing trade.
He stated the proposed reforms had been meant to enhance security, shield homebuyers and be certain that housing companies operated inside a extra coordinated framework.
- The minister cited constructing collapses and delays in housing supply as issues that stronger trade regulation ought to tackle.
- He stated the federal government needed to deliver companies with housing-related obligations, together with the Federal Housing Authority and Federal Mortgage Bank of Nigeria, underneath a extra coordinated construction supervised by one minister.
- Darma disclosed {that a} proposal had been submitted to President Bola Tinubu to enhance coordination among the many companies, significantly in mortgage finance, building finance and reasonably priced housing.
He additionally charged Harmony Gardens, Metroscape, contractors and consultants engaged on the undertaking to preserve excessive requirements of security, supply and environmental duty.
Darma stated the federal government needed homebuyers to be shielded from investing in properties that builders fail to ship inside agreed timelines. He added that the success of the Ibeju-Lekki undertaking would rely upon delivering high quality homes on the costs introduced to consumers.
Developers define homeownership fee plan
The Chief Executive Officer of Harmony Gardens, Abdullahi Saheed Mosadoluwa, stated potential householders may entry the event with an preliminary deposit of N100,000, with funds unfold over 25 years by means of the Federal Mortgage Bank of Nigeria (FMBN).
He stated the association was designed to accommodate lecturers, cops, nurses, civil servants, younger entrepreneurs and Nigerians in the diaspora.
- However, the announcement didn’t disclose the promoting costs of the homes, relevant mortgage rates of interest or month-to-month reimbursement obligations.
Darma stated the ministry was additionally working to enhance coordination amongst housing-related companies to broaden entry to mortgage financing.
- “A house is only truly accessible when a Nigerian can obtain financing on terms consistent with his income,” he stated.
Representing Lagos State Governor Babajide Sanwo-Olu, Prince Bayo Balogun counseled Harmony Gardens for its contributions to growth in Ibeju-Lekki and known as on extra non-public buyers to associate with the state authorities to tackle housing wants.
The Chairman of the House of Representatives Committee on Urban Development and Regional Planning, Awaji Inombek Abiante, urged the ministry and its partners to guarantee housing initiatives had been supported by ample transportation networks, markets and important infrastructure.
Lagos housing deficit reaches 3.4 million
The undertaking comes amid a major housing scarcity in Lagos, with the state’s housing deficit estimated at 3.4 million units in 2025, in accordance to earlier Nairametrics experiences. The state requires roughly 227,576 new homes yearly to hold tempo with demand.
Research introduced at a GTI Investment Group housing discussion board estimated that Lagos wants about N6 trillion yearly to bridge its housing capital hole.
The scheme permits eligible National Housing Fund contributors to occupy homes by means of a lease association earlier than possession is transferred, topic to agreed phrases. At its launch in Kano, Darma known as on FMBN to prolong the scheme to Lagos, Port Harcourt, Enugu, Ibadan and Abuja.
