Ata discussing with Russian officials on possibilities of Foreign Direct Investment to Nigeria in the housing sector

By Maduabuchi Nmeribeh/Kano

The Minister of State for Housing and Urban Development, Abdullahi Yusuf Ata, has hinted that Nigeria currently faces a deficit of over  17 million housing units, which the Federal Government is working hard to conquer housing problems facing the country.

“Nigeria faces a housing deficit estimated to be over 17 million units, and bridging this gap requires not only innovative policies but also significant capital investment and technical expertise,” Ata said.

Ata stated this upon his return from the Kazan International Islamic Forum, where he represented Nigeria in Russia.

He told journalists, on arrival at Malam Aminu Kano International Airport (MAKIA),  Kano, that the meeting was a huge success as it gave opportunity for, “a major milestone in attracting Foreign Direct Investment (FDI) to Nigeria,” which he said will help in curbing the problem of growing housing deficit in the country.

“My engagements in Kazan are therefore timely and essential. We clarified that Nigeria is open for business, especially in housing. The Renewed Hope Cities and Estates projects, currently underway in several states, are structured in such a way that international partners can come in through Public-Private Partnerships (PPPs).”

He added that the Kazan Forum further highlighted the opportunities for cross-sectoral investments, particularly in agriculture and urban development.

According to him,   discussions with the Russian and Jordanian Ministers of Agriculture opened doors to potential joint initiatives in agro-residential estates, where farming and housing can co-exist in a symbiotic development model.

He said, “These ideas are already being explored within the Federal Ministry of Housing and Urban Development’s policy framework as part of efforts to create sustainable, livable communities.”

Atta further revealed that Nigeria attracted Foreign Direct Investment (FDI) from Russia during the high-level international engagement in Kazan, the capital of the Republic of Tatarstan, within the Russian Federation.

Ata stated that: “We were at the Kazan International Islamic Forum, invited by the Russian Federation. The gathering brought together a diverse range of global leaders, including the Prime Minister of Malaysia, the Minister of Agriculture from Jordan, and several ministers from Russia, including the Minister of Construction and the Minister of Agriculture.”

He emphasised that Nigeria’s participation in the Forum was not just ceremonial, but a deliberate effort to forge strategic international partnerships, particularly in the critical housing sector.

According to him, “we held very engaging and productive discussions with our counterparts. Most importantly, we spotlighted the immense investment opportunities in Nigeria’s housing ecosystem, ranging from large-scale construction, affordable housing schemes, to smart urban infrastructure development.”

The Minister disclosed that one of the most significant outcomes of the discussions was the commitment to initiate concrete follow-up steps with key ministries and private sector players from the Russian Federation.

“We are extending a formal invitation to the Russian Minister of Construction for a reciprocal visit to Nigeria. This visit will serve as a launch pad for activating investment collaborations that will catalyse development and reduce Nigeria’s housing deficit,” he noted.

He further stated that the outcome of the Kazan Forum aligns strongly with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive growth, infrastructure development, job creation, and economic transformation through strategic partnerships and private sector participation.

” The expected inflow of FDI from Russia and other participating countries is a testament to the increasing international confidence in Nigeria’s housing sector and the broader economic reforms of the current administration,” Ata said.

Atta expressed optimism that the visit will lead to tangible results within the coming months, with several international companies already indicating interest in undertaking exploratory visits to Nigeria.

“This is just the beginning. We have sown the seeds for long-term collaboration. The enthusiasm and response from our foreign counterparts show that Nigeria’s reform efforts are being recognised and appreciated on the global stage,” he said.

The Minister also commended President Tinubu for providing the political will and policy clarity that have repositioned Nigeria as an attractive destination for foreign investors. He noted that initiatives such as the National Social Housing Programme, Land Reforms, and the aggressive pursuit of Ease of Doing Business reforms are creating the enabling environment for housing-led economic growth.

He assured Nigerians that the Ministry of Housing and Urban Development will continue to leverage international platforms and diplomatic channels to attract investments that will benefit ordinary citizens.

Ata reiterated the Ministry’s commitment to actualising President Tinubu’s Renewed Hope Agenda by ensuring that every Nigerian has access to decent, affordable housing.

“The journey has begun. Nigeria is rising, and under President Tinubu’s leadership, we are rebuilding trust, attracting capital, and creating opportunities for all,”  Ata said.

Ata’s Media Aide, Seyi Olorunsola, noted that,  “the annual Forum, which brings together global leaders, policy influencers, and investors, provided a strategic platform for advancing Nigeria’s economic diplomacy and showcasing opportunities in the country’s housing sector under President Bola Ahmed Tinubu’s Renewed Hope Agenda.”