The Federal Government plans to establish a Special Purpose Investment Vehicle (SPIV) to convert underutilized assets into revenue-generating ventures for affordable and social housing initiatives.
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, announced this at the Renewed Hope Housing Public-Private Partnership (PPP) Summit in Abuja on Monday, March 17, 2025, as contained in a statement on the official website of the ministry.
Dangiwa explained that the SPIV will facilitate the redevelopment of underutilized government-owned properties and prime federal land, turning them into financial resources to fund large-scale housing projects.