The National Assembly has secured an additional N50 billion for the Federal Ministry of Housing and Urban Development in the 2025 budget. This increase restores a previous budget reduction proposed by the Budget Office, with the goal of strengthening the housing sector, creating jobs, and addressing inherited liabilities.
The announcement was made by the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, during a stakeholders’ retreat organized by the Ministry in Lagos on Wednesday, February 19, 2025. The Ministry’s website published a statement regarding the update.
Dangiwa explained that the increased funding would enhance the Ministry’s ability to execute key projects, positively impacting the economy. The additional N50 billion is seen as a significant boost to the housing sector, particularly following the earlier proposed budget cut. The Minister highlighted that the funding would not only create more jobs but also help the Ministry clear outstanding liabilities.
The additional allocation aligns with the Renewed Hope Agenda of the current administration and underscores the government’s commitment to addressing challenges in the housing sector.
Dangiwa acknowledged that the sector had been neglected in the past but reassured stakeholders of his determination to work closely with the National Assembly and other relevant bodies to ensure the successful implementation of the Ministry’s initiatives.
