The federal government has said that the President Bola Tinubu administration’s top priority and the Ministry of Housing’s primary focus, which is housing delivery, is at risk due to the recent surge in cement prices.
The minister of Housing and Urban Development Minister, Ahmed Dangiwa conveyed this message during a meeting with cement manufacturers at the Ministry headquarters in Abuja on Tuesday, February 20.
He said: “For example, if we were planning to build a one-bedroom apartment for about N8 million, it will now cost twice that much, about N16 million to build. If a Nigerian could afford to own a home of N8 million, it would now be impossible to do so. We are also aware of several persons who have had to suspend construction work because of this development”.
He expressed the ministry’s concern regarding the present circumstances, especially considering the initiatives it has undertaken to provide social and affordable housing for low- and middle-class individuals, as well as vulnerable members of the community.
Dangiwa said: “We have already awarded contracts for Renewed Hope Cities and Estates in 15 states of the Federation. There is also the PULAKU Initiative through which we intend to build at least 1,000 houses in seven (7) states affected by banditry. We are worried that the rising cost of cement and other building materials in the country will affect these plans.”
