The funding, backed by the Federal Government and administered by ARM Investment Managers, marks a major milestone in the implementation of the Renewed Hope agenda for nationwide housing development.

The facility is part of a broader strategy to deepen mortgage accessibility for Nigeria’s low- and middle-income earners groups often left out of formal housing finance schemes.

As one of the country’s most experienced and forward-thinking mortgage institutions, Homebase Mortgage Bank has been identified as a key partner capable of driving impact at scale.

“This funding is more than just a capital injection. It’s an endorsement of our model and a reaffirmation of the role we play in the national housing ecosystem,” said Arinze Adigwe, Managing Director of Homebase Mortgage Bank.

“We are committed to extending affordable mortgage options to the everyday Nigerian, bridging the divide between hope and homeownership.”

With this new facility, Homebase will begin rolling out mortgage products at highly competitive terms. Loans will be offered at interest rates as low as 12% per annum, with repayment periods of up to 20 years. When combined with support from Family Homes Funds Limited (FHFL), some borrowers could qualify for single-digit interest rates below 10%.

Prospective homeowners will be able to access loans up to ₦100 million with just a 20% down payment dramatically improving affordability for many Nigerians.

The bank is also launching new initiatives to support uptake, including digital mortgage application platforms for faster processing, advisory services tailored for first-time homeowners, and educational forums to raise awareness in communities across major cities.

With a 20-year legacy of service in the mortgage banking sector, Homebase continues to push the frontier of innovation and integrity in financial services. Its efforts under the MREIF framework are not only designed to finance houses but to build resilient communities and empower thousands of Nigerians with the stability of homeownership.

“The MREIF fund is a mandate to accelerate social impact,” Adigwe added. “It’s about more than numbers, it’s about transforming lives and securing futures.”

The post Homebase Mortgage Bank Secures ₦3.5 Billion Boost to Expand Affordable Housing Access in Nigeria appeared first on Housing TV Africa.

Speaking during the 55th annual gathering of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja, the group’s president, Victor Alonge, emphasized the urgent need to revisit the Land Use Act—originally enacted in 1978. According to him, the decades-old legislation has become a barrier to equitable land access and real estate progress.

“Land acquisition remains a steep challenge for ordinary Nigerians,” Alonge remarked. “We need a modern, inclusive system that doesn’t cater primarily to high-end developers.”

Beyond land reform, Alonge pointed to persistent inefficiencies in the country’s housing strategies. He called for a revamp of the National Housing Policy, criticizing its lack of coherence and inadequate stakeholder involvement.

He argued that the existing policy often blurs the lines between affordable and social housing, resulting in initiatives that fail to serve low-income populations. “We routinely label homes as affordable, yet they’re priced far beyond the reach of everyday workers,” he said.

Highlighting global practices, Alonge cited examples where essential service providers such as nurses and teachers are given access to centrally located housing, allowing them to live within the communities they serve. He stressed that Nigeria needs a comparable approach to social housing that goes beyond mere rhetoric.

Alonge also proposed fiscal deterrents to combat property hoarding, suggesting that idle real estate should be subject to higher taxation. “When owners face steep levies on unused homes, they’re more likely to make those properties available,” he noted, drawing on policies implemented in more developed housing markets.

The NIESV leader concluded by urging policymakers to involve industry experts in shaping future regulations, warning that without strategic and inclusive planning, the housing deficit in Nigeria could deepen.

The post NIESV Calls for Overhaul of Nigeria’s land and housing Framework. appeared first on Housing TV Africa.

Okey Kanu, the Commissioner for Information, revealed this during a press briefing on the outcome of the weekly Executive Council meeting chaired by Governor Alex Otti.

The proposed estates will be located in Aba, Obehie (Ukwa West LGA), and two sites in Mbaisii and Mgbarakuma, Umuahia.

Kanu noted that discussions with private developers are progressing well, emphasizing the government’s strong commitment to the projects.

Chaka Chukwumereije, Commissioner for Lands, also introduced the “New Umuahia Project,” a separate housing initiative.

He explained that the project would cover 2,000 hectares between Abia Tower and Ntigha Junction, affecting 19 surrounding communities.

Chukwumereije assured the public that further details would be shared once the project paperwork is finalized.

The post Abia State Govt Plans Four New Housing Estates to Tackle Housing Deficit appeared first on Housing TV Africa.

The NSE Benue Chairman, Mr. Ukeyima Manger, emphasized that housing remains a critical challenge for residents, particularly in urban areas.

The manager noted that while there are no completely vacant estates, several privately owned and state-owned buildings have been abandoned due to contract disputes, payment delays, and disagreements. One such example, he said, is the Sheraton Hotel project, which commenced in 1980 but remains incomplete due to a dispute between the government and the original project consultant.

He further raised concerns over the lack of professional involvement in many ongoing construction projects, stressing the need for proper engagement of architects, structural engineers, and other experts to ensure quality housing development.

In a related development, Makurdi resident and landlord, Mr. James Terwase, highlighted the worsening housing deficit in the city, which has led to a sharp rise in rent prices.

According to him, single rooms that previously cost ₦24,000 annually have surged to ₦50,000–₦60,000, while one-bedroom apartments that were ₦150,000 now range between ₦250,000 and ₦500,000. Two-bedroom flats, once rented for ₦400,000, now go for ₦1 million and above.

Despite the rising cost of rent and increasing housing shortages, there is no official regulatory body overseeing the housing sector in Benue, leaving tenants at the mercy of landlords.

The post Rent Prices Surge in Benue as Housing Demand Outpaces Supply appeared first on Housing TV Africa.

In a statement released in Abuja on Wednesday ,the executive director HDAN, Festus Adebayo noted that the policy is one the people have been waiting for, to remove the dead capital which can be seeing in all the states in Nigeria and FCT.

According to Adebayo, the dead capital are those properties that have no legal recognition and that cannot be used for financial transaction. “Therefore, for a Minister of FCT Wike to have issued a directive that all dead assets in the FCT be brought alive with legal titles is a good development.

“To us in HDAN, we have read this as part of the policy of the President Bola Ahmed Tinubu’s administration manifestoes and we are very happy that this has started from the FCT through the minister Nyesom Wike.

According to HDAN, if this is done the economy of Nigeria will improve within one year.

According to the FCT Minister, Nyesom Wike the purpose of setting up the taskforce is to ensure that houses in the mass housing estate are granted certificate of occupancy.

“The Implication of this policy according to HDAN is that, with C of O the owners of these properties can have access to finance and this will reduce the level of poverty in the country. It will also affect the mortgage sector positively.”says HDAN

He further stated, that Nigeria is reported to hold close to $1 trillion worth of dead capital in residential real estate that should have been used as catalysts for the rapid economic development of the country and reduction of abject poverty among Nigerians.

“According to a 2018 – 2019 Nigeria living standards survey (NLSS) report by the bureau of statistics (NBS), 71.4 percent of landlords sampled across the 36 states and federal capital Territory are without titles. This is one of the causes of poverty in Nigeria says HDAN.”

Adebayo further stated that HDAN will continue to support the success of this laudable policy that have just been introduced in the FCT, and we also do more in creating awareness to state governors to adopt this policy in their domains

He further stated that this type of policy will facilitate the development of the mortgage sector and generally encourage the reliance on properties as security for credit; generate substantial revenue for the state and federal governments.

On the benefits of this type of policy we are calling on president Tinubu to prevail on state governors to issue C of O to all houses in the mass housing projects in there domains.

HDAN has been in the forefront of relentlessly pursuing the development of housing sector and has recently began consultation with National Assembly on how to amend some of the obsolete laws that have been preventing conducive environment for real estate investment in Nigeria.

Source: AfricaHousingNews

The post HDAN Hails FCT Minister on the Policy of Issuance of C of O to all the Houses in the Mass Housing Estates in the FCT appeared first on Housing TV Africa.