LThe Federal Government has announced that the construction of the 2,000-unit Renewed Hope City housing project in Ibeju Lekki, Lagos, is now 80 per cent complete and will soon be inaugurated by President Bola Ahmed Tinubu, GCFR.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, disclosed this on Thursday, August 28, 2025, during an inspection visit to the project site.
Dangiwa said that over 700 housing units under Phase One are already ready for commissioning, adding that President Tinubu will lay the foundation for the second phase immediately after the inauguration.
> “The Lagos Renewed Hope City, when fully completed, will deliver 2,000 housing units. This project underscores President Tinubu’s commitment to addressing Nigeria’s housing deficit and providing affordable homes for citizens,” the Minister stated.
He explained that the Renewed Hope Cities and Estates initiative, currently being executed in the six geo-political zones and the FCT, is part of the administration’s nationwide housing agenda.
As part of his tour, the Minister also visited the Lekki Free Trade Zone, where he announced plans to establish a Federal Government Building Materials Manufacturing Hub. He said the hub, one of six to be sited across Nigeria, will reduce the cost of housing by boosting local production of building materials.
According to him, an investor has already been secured for the project, which will not only cut the cost of construction but also promote local content, curb dependence on imports, and create jobs.
“The hub will promote local content, curb rising costs of materials, encourage domestic production, and ensure sustainable housing delivery nationwide,” he said, noting that Lekki’s intermodal transport infrastructure — seaport, airport, rail, and roads — makes the zone strategic for such investment.
Earlier, the Managing Director/CEO of Lekki Worldwide Investments Ltd, Adeniyi Akinlusi, briefed the Minister on the economic potential of the free trade zone, stressing that it was designed to stimulate growth, attract investments, and expand housing opportunities.
Also speaking at the Renewed Hope City site, Dr. Muhammad Abdul, Executive Director of Loans and Mortgage Services at the Federal Mortgage Bank of Nigeria (FMBN), said the Ibeju Lekki houses are designed to be affordable for workers and cooperative societies, supported by the bank’s low-interest mortgage facilities.
During his inspection of Alaro City, another landmark development within the Lekki zone, Dangiwa praised the management for their sustainable housing efforts, saying they align with the Federal Government’s vision to bridge the housing gap.
