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Reps Approve N500bn Budget Boost for Housing Ministry

 
The House of Representatives has approved a significant budget increase for the Ministry of Housing and Urban Development, raising it to N500bn to address the nation's housing deficit. Chairman of the House Committee on Housing, Ahmed Lere, announced this decision during a recent meeting in Abuja with Housing Minister Ahmed Dangiwa. Dangiwa had emphasized the need for increased funding to tackle the severe housing shortfall in Nigeria.
 
 
Despite previous efforts and a budget of N100bn in the 2023 supplementary budget and about N80bn in 2024, Dangiwa stressed that these amounts were inadequate. He argued for a minimum annual allocation of N500bn to make meaningful progress under the Renewed Home Cities and Health Care Programme.
 
Dangiwa highlighted the economic benefits of investing in housing, including job creation and stimulation of local industries. He noted that the National Social Housing Fund and the National Land Registration and Titling Programme were critical initiatives for providing affordable housing and improving land formalization.
 
Challenges such as the review of the Land Use Act, unpaid liabilities, and the need for additional manpower and funding for legal services were also discussed. Dangiwa expressed gratitude for the House Committee's support and urged continued backing for the ministry’s initiatives.
Lere, satisfied with the minister’s presentation, reiterated the importance of increased funding to meet the housing policy goals of the current administration as outlined in the Renew Hope Agenda. He assured full committee support for the budget increase, emphasizing that it was crucial for overcoming the persistent housing challenges in Nigeria.
Source: PunchNG

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