1 Peter 2:9-10: "9 But you are a chosen race, a royal priesthood, a holy nation, a people for his own possession, that you may proclaim the excellencies of him who called you out of darkness into his marvelous light. 10 Once you were not a people, but now you are God's people; once you had not received mercy, but now you have received mercy."
Ephesians 2:19-22: "19 So then you are no longer strangers and aliens, but you are fellow citizens with the saints and members of the household of God, 20 built on the foundation of the apostles and prophets, Christ Jesus himself being the cornerstone, 21 in whom the whole structure, being joined together, grows into a holy temple in the Lord. 22 In him you also are being built together into a dwelling place for God by the Spirit."
Ephesians 5:8-10: "8 for at one time you were darkness, but now you are light in the Lord. Walk as children of light 9 (for the fruit of light is found in all that is good and right and true), 10 and try to discern what is pleasing to the Lord."
Revelation 5:9-10: "9 And they sang a new song, saying, 'Worthy are you to take the scroll and to open its seals, for you were slain, and by your blood you ransomed people for God from every tribe and language and people and nation, 10 and you have made them a kingdom and priests to our God, and they shall reign on the earth.'"
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These passages are pretty clear to see in the hymn text. 1 Peter 2:9-10 appears in the first verse and at the beginning of the second verse. In the second verse, there's also some overlap with Ephesians 5:8-10. Ephesians 2:19-22 appears in the third verse, and Revelation 5:9-10 appears in the fourth verse, although 1 Peter 2:9-10 overlaps a bit here too.