The National Assembly has secured an additional N50 billion for the Federal Ministry of Housing and Urban Development in the 2025 budget.
This increase reverses an earlier reduction proposed by the Budget Office, aiming to boost the housing sector, create jobs, and address inherited liabilities.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, made the announcement during a stakeholders’ retreat organized by the Ministry in Lagos on Wednesday, February 19, 2025, as disclosed in a statement published on the ministry’s website.
He explained that the increased budgetary allocation would enhance the ministry’s capacity to execute key projects, positively impacting the economy.
“In a significant boost to the housing sector, Arc. Dangiwa announced that the National Assembly has secured an additional N50 billion for the Ministry’s 2025 budget. This increase follows an initial budget reduction proposed by the Budget Office.
“He noted that the additional funding will lead to creation of more jobs while the ministry is able to clear inherited liabilities and impact positively on the economy,” the statement read in part.
According to Arc. Dangiwa, the additional funding aligns with the Renewed Hope Agenda of current administration and highlights the government’s commitment to addressing the challenges in the housing sector.
The Minister emphasized that the housing sector had suffered from neglect in the past but assured stakeholders of his commitment to work closely with the National Assembly and other relevant bodies to ensure the successful implementation of the Ministry’s initiatives.