Housing Minister Muttaqha Darma says government is working to reduce rent pressure on workers and recover abandoned housing projects nationwide.

The Federal Government says it is working to reduce the proportion of workers’ income spent on rent, with Housing and Urban Development Minister Muttaqha Rabe Darma saying the government does not want Nigerian workers spending between 40 and 60 per cent of their earnings on accommodation.

Darma made the statement on Wednesday while commending the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for supporting affordable housing access for its workers. 

According to the minister, high rental costs can place additional financial pressure on workers with families. He argued that when a large share of legitimate income goes towards rent, workers may face difficulties meeting other obligations such as education and family welfare.

He linked that pressure to the broader challenge of corruption, saying the government wants to reduce one of the financial pressures that could encourage people to seek additional sources of income.

“We are going to ensure that in this country, workers do not spend 40 to 60 per cent of their income on rent,” Darma said.

He said the government’s broader objective was to make decent and affordable housing more accessible, with the ultimate goal of ensuring that Nigerians without adequate housing can have homes.

FG Reviews Abandoned Housing Projects

Darma also disclosed that the Federal Government is conducting a nationwide assessment of abandoned housing projects as part of its strategy to increase housing supply.

The minister said some of the abandoned developments date back several years, including housing schemes initiated during the administration of former President Olusegun Obasanjo.

“There are so many housing projects, starting from the National Housing Programme and even long way back—even during General Obasanjo’s time—so many of them have been abandoned all over Nigeria, in all states,” he said. 

The government is compiling information on the projects and visiting locations across the country to determine their condition and the steps required to bring them back into use.

Darma said the Federal Government is also engaging state governors over the possibility of taking over or acquiring some of the abandoned housing projects.

Under the proposed approach, viable estates could be renovated and converted into functional homes, including housing that could be allocated to civil servants.

The minister said the government had identified close to 250,000 abandoned housing units nationwide.

He expressed optimism that recovering the units would provide a faster way of increasing housing supply because the projects already represent investments made with public funds.

Government Wants States To Take Over Some Projects

According to Darma, discussions with state governments are intended to determine how abandoned projects can be recovered, completed and put to productive use.

The proposal would involve states taking over or buying selected abandoned developments, renovating them and making the completed properties available to workers.

The minister’s comments come as the Federal Government continues its broader review of abandoned housing assets.

On Wednesday, Darma also inspected the abandoned National Housing Programme estate at Kubwa-Karsana in the Federal Capital Territory. The ministry said the exercise is part of a nationwide assessment designed to determine the completion status of abandoned projects and identify the interventions required to make viable estates functional. 

Darma said viable projects would be upgraded, completed and allocated transparently to Nigerians.

“We cannot continue to allow housing projects that were started with public funds to remain abandoned,” he said during the inspection.

The ministry said recovering existing projects would complement the construction of new housing developments and help maximise investments already made by government.

Housing Deficit Remains A Major Challenge

Darma put the number of Nigerians currently unhoused at about 110 million and said approximately 16 million housing units would be required to address the deficit.

The figures were presented by the minister as part of the government’s assessment of the scale of Nigeria’s housing challenge. Other recent housing assessments have produced different estimates of the national deficit, underscoring the importance of reliable housing data.

The Federal Mortgage Bank of Nigeria, for instance, has continued to support homeownership through schemes such as rent-to-own housing. In August 2026, FMBN delivered 129 completed three-bedroom bungalows to beneficiaries at the Nasarawa Technology Village in Karu, Nasarawa State. 

The Federal Government has also announced plans under its National Social Housing Programme to construct 774,000 housing units across the country for low- and middle-income earners. 

These initiatives form part of the government’s wider strategy to increase housing supply while improving access to mortgage and rent-to-own arrangements.

FG Seeks Housing Delivery Within Months

Darma said the Ministry of Housing and Urban Development had been engaging stakeholders across the housing sector and relevant regulators to facilitate the provision of additional housing units.

He said the government wants to move beyond policy discussions and deliver practical housing solutions.

The minister also indicated that recovering abandoned estates could help government achieve that objective more efficiently because some projects may require completion or rehabilitation rather than entirely new construction.

For workers facing high rental costs, the recovery of existing housing units could potentially create additional accommodation options if the properties are successfully completed and allocated.

Darma reiterated that the government would pursue the recovery strategy and work with state governments to bring abandoned housing assets back into use.

“We are going to do it,” he said.

The government’s approach therefore combines two tracks: increasing new housing supply and recovering abandoned projects that can still be made functional.

The success of the strategy will depend on the condition of the identified projects, funding for rehabilitation, agreements with state governments, infrastructure availability and transparent allocation of completed homes.

For now, the minister says the Federal Government is compiling the required data, inspecting abandoned estates and engaging relevant stakeholders as it works towards reducing Nigeria’s housing shortage and the financial burden of rent on workers.

Housing Minister Muttaqha Darma says government is working to reduce rent pressure on workers and recover abandoned housing projects nationwide.

The Federal Government says it is working to reduce the proportion of workers’ income spent on rent, with Housing and Urban Development Minister Muttaqha Rabe Darma saying the government does not want Nigerian workers spending between 40 and 60 per cent of their earnings on accommodation.

Darma made the statement on Wednesday while commending the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for supporting affordable housing access for its workers. 

According to the minister, high rental costs can place additional financial pressure on workers with families. He argued that when a large share of legitimate income goes towards rent, workers may face difficulties meeting other obligations such as education and family welfare.

He linked that pressure to the broader challenge of corruption, saying the government wants to reduce one of the financial pressures that could encourage people to seek additional sources of income.

“We are going to ensure that in this country, workers do not spend 40 to 60 per cent of their income on rent,” Darma said.

He said the government’s broader objective was to make decent and affordable housing more accessible, with the ultimate goal of ensuring that Nigerians without adequate housing can have homes.

FG Reviews Abandoned Housing Projects

Darma also disclosed that the Federal Government is conducting a nationwide assessment of abandoned housing projects as part of its strategy to increase housing supply.

The minister said some of the abandoned developments date back several years, including housing schemes initiated during the administration of former President Olusegun Obasanjo.

“There are so many housing projects, starting from the National Housing Programme and even long way back—even during General Obasanjo’s time—so many of them have been abandoned all over Nigeria, in all states,” he said. 

The government is compiling information on the projects and visiting locations across the country to determine their condition and the steps required to bring them back into use.

Darma said the Federal Government is also engaging state governors over the possibility of taking over or acquiring some of the abandoned housing projects.

Under the proposed approach, viable estates could be renovated and converted into functional homes, including housing that could be allocated to civil servants.

The minister said the government had identified close to 250,000 abandoned housing units nationwide.

He expressed optimism that recovering the units would provide a faster way of increasing housing supply because the projects already represent investments made with public funds.

Government Wants States To Take Over Some Projects

According to Darma, discussions with state governments are intended to determine how abandoned projects can be recovered, completed and put to productive use.

The proposal would involve states taking over or buying selected abandoned developments, renovating them and making the completed properties available to workers.

The minister’s comments come as the Federal Government continues its broader review of abandoned housing assets.

On Wednesday, Darma also inspected the abandoned National Housing Programme estate at Kubwa-Karsana in the Federal Capital Territory. The ministry said the exercise is part of a nationwide assessment designed to determine the completion status of abandoned projects and identify the interventions required to make viable estates functional. 

Darma said viable projects would be upgraded, completed and allocated transparently to Nigerians.

“We cannot continue to allow housing projects that were started with public funds to remain abandoned,” he said during the inspection.

The ministry said recovering existing projects would complement the construction of new housing developments and help maximise investments already made by government.

Housing Deficit Remains A Major Challenge

Darma put the number of Nigerians currently unhoused at about 110 million and said approximately 16 million housing units would be required to address the deficit.

The figures were presented by the minister as part of the government’s assessment of the scale of Nigeria’s housing challenge. Other recent housing assessments have produced different estimates of the national deficit, underscoring the importance of reliable housing data.

The Federal Mortgage Bank of Nigeria, for instance, has continued to support homeownership through schemes such as rent-to-own housing. In August 2026, FMBN delivered 129 completed three-bedroom bungalows to beneficiaries at the Nasarawa Technology Village in Karu, Nasarawa State. 

The Federal Government has also announced plans under its National Social Housing Programme to construct 774,000 housing units across the country for low- and middle-income earners. 

These initiatives form part of the government’s wider strategy to increase housing supply while improving access to mortgage and rent-to-own arrangements.

FG Seeks Housing Delivery Within Months

Darma said the Ministry of Housing and Urban Development had been engaging stakeholders across the housing sector and relevant regulators to facilitate the provision of additional housing units.

He said the government wants to move beyond policy discussions and deliver practical housing solutions.

The minister also indicated that recovering abandoned estates could help government achieve that objective more efficiently because some projects may require completion or rehabilitation rather than entirely new construction.

For workers facing high rental costs, the recovery of existing housing units could potentially create additional accommodation options if the properties are successfully completed and allocated.

Darma reiterated that the government would pursue the recovery strategy and work with state governments to bring abandoned housing assets back into use.

“We are going to do it,” he said.

The government’s approach therefore combines two tracks: increasing new housing supply and recovering abandoned projects that can still be made functional.

The success of the strategy will depend on the condition of the identified projects, funding for rehabilitation, agreements with state governments, infrastructure availability and transparent allocation of completed homes.

For now, the minister says the Federal Government is compiling the required data, inspecting abandoned estates and engaging relevant stakeholders as it works towards reducing Nigeria’s housing shortage and the financial burden of rent on workers.

The post FG Targets Lower Rent Burden, Identifies 250,000 Abandoned Housing Units appeared first on Housing TV Africa.

The MOFI Real Estate Investment Fund (MREIF) has provided more than N140 billion in mortgage financing to over 2,000 Nigerians since it began operations in March 2025.

The Federal Government-backed housing finance initiative has expanded its reach across the country. Mortgage beneficiaries now span 27 states, according to Olubiyi Adekunbi, Head of Real Estate Investment at ARM Investment Managers.

Adekunbi disclosed the figures during a FirstBank webinar titled “Beyond Rent: The Path to Home Ownership Leveraging FirstBank-MREIF Home Loan Scheme to Build Long-Term Wealth.”

MREIF Mortgage Disbursements Begin in 2025

MREIF began mortgage disbursements in April 2025. By August 2026, more than 2,000 people had received financing through the scheme.

Adekunbi said the fund has maintained a relatively fast application process. He added that applicants do not need personal connections to move their applications through the system.

The quickest mortgage transaction under the programme took less than three weeks, he said. However, applicants must submit the required documents and complete all due diligence checks before approval.

Adekunbi said eligible applicants could potentially complete the process and secure a home within a month.

Mortgages Available Across 27 States

Lagos and Abuja account for the largest share of applications under the scheme. However, MREIF has extended mortgage financing to properties in 27 states across Nigeria’s six geopolitical zones.

Properties in Ogun, Oyo, Enugu, Kano and Kaduna can qualify for financing. Applicants must provide valid land titles and clear ownership records for the properties.

The scheme also serves Nigerians living abroad, provided they meet the required eligibility and documentation conditions.

Adekunbi said the average age of applicants stands at 43. Mortgage repayment periods generally take retirement age into account.

Most loans are structured around a retirement age of 60. Some professionals, including lecturers and judges, may qualify for different arrangements because of their higher retirement ages.

Nigeria Needs More Housing Finance

The MREIF expansion comes as Nigeria continues to face a major shortage of housing.

Sani Yakubu, MREIF National Coordinator at the Ministry of Finance Incorporated (MOFI), said Nigeria needs to build at least 700,000 housing units each year to address the housing gap.

He said the country currently produces about 100,000 units annually. The difference between required and actual housing production highlights the scale of the supply challenge.

Yakubu linked part of the problem to limited access to affordable mortgage finance. Developers also face difficulties raising capital and obtaining proper land documentation.

He said MREIF aims to support existing financial institutions rather than replace them. The fund, he explained, is intended to help strengthen the mortgage market and increase access to long-term housing finance.

Government Provides N150bn for First Tranche

The first N250 billion tranche of the MREIF programme received N150 billion from the Federal Government.

Private-sector investors contributed the remaining N100 billion. The tranche forms part of the wider N1 trillion MREIF programme registered with the Securities and Exchange Commission.

Nigerian professionals developed the fund structure. Vetiva Capital Management serves as financial adviser, while STL Trustees acts as trustee and First Nominees serves as nominee.

The funding model is designed to attract additional capital into Nigeria’s real estate and mortgage sectors. Greater availability of long-term finance could help more households move from renting to home ownership.

MREIF Mortgage Terms

MREIF offers mortgages of up to N100 million at an interest rate of 9.75%. Eligible borrowers can repay the loans over periods of up to 20 years.

Applicants must provide at least 10% equity toward the property purchase. Contributors to the Contributory Pension Scheme can also use up to 25% of their Retirement Savings Account balance to meet the equity requirement.

MREIF caps its mortgage exposure at N100 million per property. Buyers seeking properties above that value must fund the balance through other sources.

These may include personal savings, approved pension withdrawals or other available funding.

MREIF Reports N14.49bn Profit

The mortgage expansion follows MREIF’s reported financial performance for the first half of 2026.

The fund recorded N14.49 billion in profit before tax for the six months ended June 30, 2026. It generated total income of N17.48 billion during the period.

Interest income from financial assets measured at amortised cost contributed N8.10 billion. Cash and cash equivalents generated a further N6.21 billion.

After a withholding tax charge of N250.5 million, profit after tax stood at N14.24 billion.

FirstBank Partnership Expands Mortgage Access

The latest figures also follow FirstBank’s partnership with MREIF to expand access to mortgage financing.

Under the partnership, eligible Nigerians can seek mortgage loans of up to N100 million. The initiative is part of broader efforts to increase access to home financing and support home ownership.

MREIF’s growing disbursement figures show the potential role of long-term mortgage finance in Nigeria’s housing market. However, expanding access will also require adequate housing supply, clear land titles and financing that households can sustain over the life of their loans.

For Nigeria’s housing sector, the continued rollout of MREIF could help connect homebuyers with longer-term finance while giving developers greater access to capital. The fund’s ability to expand beyond major markets will also be important as the country seeks to increase home ownership and narrow its housing supply gap.

The post MREIF Disburses N140bn in Mortgages to Over 2,000 Nigerians appeared first on Housing TV Africa.

The Federal Government has set a target to complete and deliver 100,000 housing units before 2027 as it intensifies implementation of the Renewed Hope Housing Programme.

The target is part of the government’s broader effort to increase housing supply, expand access to affordable homes and address Nigeria’s persistent housing deficit. The Federal Ministry of Housing and Urban Development has said several housing projects are already underway across the country.

The government is relying on a combination of direct public investment and public-private partnerships (PPPs) to accelerate construction and reduce some of the financing constraints that have historically slowed housing delivery.

Under the Renewed Hope programme, the government has been developing housing projects intended to serve different income groups, while also pursuing reforms around land administration, housing finance and project delivery.

The planned 100,000 units are expected to contribute to housing supply while generating economic activity across the construction value chain. Increased construction would create demand for cement, steel, roofing materials, electrical fittings, furniture, transportation and other building-related products and services.

The housing programme could therefore have an impact beyond the number of homes delivered. Large-scale construction has the potential to support employment and stimulate local manufacturing of construction materials.

However, achieving the target will depend heavily on the pace of construction and the government’s ability to overcome some of the challenges affecting housing projects across Nigeria.

Rising construction costs remain a major concern. The cost of building materials, land, labour and infrastructure continues to place pressure on developers and can affect both project timelines and the final price of completed homes.

Financing is another critical issue. Increasing the supply of houses will have limited impact on homeownership if potential buyers cannot access mortgages or other forms of affordable housing finance.

Recent Central Bank of Nigeria data has shown increased demand for housing-related credit, suggesting that more Nigerians are turning to formal financing to purchase or construct homes.

The government has also emphasised the importance of private-sector participation in meeting its housing objectives. Partnerships with developers, financial institutions and other investors are expected to help increase the scale and speed of housing delivery.

The 100,000-unit target therefore represents an important test for Nigeria’s housing policy. Completing the houses on schedule would increase the country’s housing stock, but the broader measure of success will be whether the homes are affordable, properly serviced and accessible to the households most affected by the housing shortage.

With the 2027 deadline approaching, attention will increasingly shift from announcements and project launches to actual completion figures and the number of homes ultimately handed over to Nigerians.

The post FG Intensifies Housing Drive, Targets 100,000 Units Before 2027 appeared first on Housing TV Africa.

The project began after the Cross River State Government donated 25 acres of land in the Adiabo community. This generous gesture helped the initiative take off quickly.

Rt Hon. Victor Udofia, Special Adviser to the President of the Senate and contact for the Federal Ministry of Housing and Urban Development, visited the Obong of Calabar. During the visit, he thanked the state government for the land and the warm reception.

According to Udofia, the project aligns with the Renewed Hope Agenda. It focuses on delivering quality homes to low- and middle-income earners. He praised Governor Bassey Otu for acting quickly. He also commended Senator Asuquo Ekpenyong for his support in bringing the project to the state.

Alfa Simeon, the Federal Controller of Housing in Cross River, spoke on behalf of the Honourable Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa. He shared that eight contractors have been assigned to the project. Four will handle infrastructure like roads, electricity, and water. The other four will build the housing units.

The first phase of the project includes 120 homes. These consist of one- and two-bedroom apartments. All units are designed to be affordable and expandable to meet the needs of families.

Simeon explained that the work will take place in two phases. However, Phase One will be completed and delivered before moving to Phase Two. This step helps prevent delays and ensures full project delivery.

Local leaders and residents welcomed the project with enthusiasm. They pledged their full support to help ensure its success and long-term impact on the community.

The post Federal Government Begins Renewed Hope Housing Scheme in Calabar appeared first on Housing TV Africa.