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, beneath its Renewed Hope Housing Programme.
Speaking on the groundbreaking ceremony on Friday, October 30, 2026, the Housing Minister Muttaqha Rabe Darma mentioned the venture would broaden entry to homeownership and strengthen private-sector participation in housing supply.
The improvement will likely be delivered beneath 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 mentioned the venture would prolong the Federal Government’s housing improvement programme in Ibeju-Lekki and generate vital employment alternatives throughout building.
He mentioned the event was anticipated to generate greater than 50,000 jobs throughout the 2,000 housing models, whereas creating thousands and thousands of productive man-hours over the course of the venture.
- “Our partnership with Harmony Gardens and Metroscape together will deliver two- and three-bedroom homes,” Darma mentioned.
The minister referenced N78 billion as a part of the venture’s funding however mentioned 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 mentioned was aimed 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 venture to acquire sensible expertise and develop skilled and technical abilities.
The minister mentioned the venture’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 venture, Darma mentioned the Federal Government was working to introduce stronger regulation and coordination throughout Nigeria’s housing trade.
He mentioned the proposed reforms have been meant to enhance security, shield homebuyers and make sure 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 deal with.
- He mentioned the federal government needed to deliver companies with housing-related obligations, together with the Federal Housing Authority and Federal Mortgage Bank of Nigeria, beneath 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, notably in mortgage finance, building finance and inexpensive housing.
He additionally charged Harmony Gardens, Metroscape, contractors and consultants engaged on the venture to preserve excessive requirements of security, supply and environmental duty.
Darma mentioned the federal government needed homebuyers to be protected against investing in properties that builders fail to ship inside agreed timelines. He added that the success of the Ibeju-Lekki venture would rely upon delivering high quality homes on the costs introduced to patrons.
Developers define homeownership fee plan
The Chief Executive Officer of Harmony Gardens, Abdullahi Saheed Mosadoluwa, mentioned 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 mentioned the association was designed to accommodate academics, 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 mentioned 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 mentioned.
Representing Lagos State Governor Babajide Sanwo-Olu, Prince Bayo Balogun recommended Harmony Gardens for its contributions to improvement in Ibeju-Lekki and referred to as on extra non-public buyers to companion with the state authorities to deal with 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 tasks have been supported by satisfactory transportation networks, markets and important infrastructure.
Lagos housing deficit reaches 3.4 million
The venture 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 reviews. The state requires roughly 227,576 new homes yearly to maintain 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 referred to as on FMBN to prolong the scheme to Lagos, Port Harcourt, Enugu, Ibadan and Abuja.
