FirstBank, in collaboration with the MOFI Real Estate Investment Fund (MREIF), has highlighted opportunities for Nigerians to access affordable mortgage financing as part of efforts to reduce the country’s housing deficit and improve access to homeownership.

The financial institutions made this known during a home loan webinar themed, “Beyond Rent: The Path to Home Ownership Leveraging FirstBank-MREIF Home Loan Scheme to Build Long-Term Wealth.”

The webinar was aimed at informing Nigerians in both the formal and informal sectors about available mortgage opportunities and how they can use the scheme to finance homeownership.

Under the FirstBank-MREIF home loan scheme, eligible applicants can access mortgages with repayment periods of up to 20 years at a fixed interest rate of 9.75 per cent per annum, subject to applicable terms and eligibility requirements.

The webinar also highlighted the broader opportunities provided through MREIF, an initiative of the Ministry of Finance Incorporated, which seeks to expand access to long-term mortgage financing and address Nigeria’s housing deficit.

The fund ultimately aims to mobilise up to N1 trillion to expand mortgage access and support housing development across the country.

Speaking during the webinar, FirstBank’s Head of Personal Banking, Chukwuka Okonkwo, said the partnership was designed to broaden access to mortgage financing and contribute to closing Nigeria’s housing deficit.

Okonkwo said FirstBank’s extensive branch network and digital lending platforms provided the bank with the capacity to support Nigerians seeking to own homes.

He said the bank had also established partnerships with developers across several states after conducting research to identify properties that qualify for mortgage financing.

According to him, the bank intends to extend the mortgage opportunity to Nigerians in the diaspora and provide an end-to-end homeownership solution.

He said the partnership with MREIF would help ensure that the scheme reaches Nigerians across several states.

FirstBank’s Head of Security Documentation and Transactional Support, Legal Services, Uzoamaka Ihegazie, also explained the measures the bank takes to protect customers through proper property documentation.

She said the bank verifies property ownership and land documentation before financing is provided.

According to her, the process includes obtaining the Certificate of Occupancy, charting the survey plan to establish that the land is properly allocated for residential purposes and conducting title verification.

She said these documentation and verification processes were necessary to protect customers and prevent ownership-related problems after they take possession of their properties.

Also speaking, Executive Director, Sales and Investment, Leadway Pensure, Oluwafemi Adebayo, commended FirstBank for providing Nigerians with an opportunity to access mortgage financing.

He said access to homeownership was particularly important for Nigerians preparing for retirement, while also highlighting the possibility of using Retirement Savings Account pension schemes to procure property and create wealth.

The National Coordinator of MREIF, Sani Yakubu, said the fund was established to address Nigeria’s housing deficit by making long-term, low-cost mortgages available to average citizens while also stimulating activity in the construction sector.

Yakubu said many Nigerians had already benefited from the initiative and encouraged more eligible Nigerians to apply.

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The National Youth Council of Nigeria (NYCN) has backed Lagos State Deputy Governor, Dr Obafemi Hamzat, over his call for economic policies that would improve the earning capacity and living conditions of young Nigerians.

NYCN Lagos Chairman, Mr Adigun Ibrahim, made the position known in a statement issued in Lagos on Sunday, saying the council agreed that stronger incomes were essential to helping young people cope with rising housing and living costs.

Ibrahim said the challenge facing young workers extended beyond employment opportunities to whether their earnings were sufficient to support independent living. He noted that rent and other essential expenses were placing increasing pressure on young people whose incomes had not kept pace with the cost of living.

Hamzat had argued that improving the economy should include creating conditions that allow citizens, particularly young people, to earn more. He also pointed to the reliance of many young workers on parents and relatives for accommodation, especially at the early stages of their careers.

According to the deputy governor, controlling the cost of essential goods and services should be part of efforts to improve living conditions. The comments highlight the connection between household purchasing power and access to housing, particularly for workers attempting to establish independent households.

READ ALSO : Taraba Takes Delivery of 188 Federal Housing Units, Promises Transparent Allocation

Ibrahim said NYCN welcomed the emphasis on affordability but stressed that assistance from family members should serve as a temporary support system rather than a substitute for economic and housing policies that enable young people to live independently.

The council called for greater investment in affordable housing, improved wages, decent employment and economic programmes targeted at young people. It also advocated wider access to housing finance to help young workers obtain decent accommodation without placing excessive pressure on their incomes.

The issue has broader implications for Nigeria’s housing sector because housing affordability is closely tied to income levels and access to finance. Even where housing supply exists, workers may struggle to secure suitable accommodation when rents, transport costs and other household expenses consume a large share of their earnings.

For the mortgage and housing finance market, the NYCN position also points to the importance of creating financing options that reflect the realities of younger workers. Access to suitable housing finance can be difficult when income is low or unstable, limiting the ability of many potential buyers to transition from renting to homeownership.

Ibrahim said policies should not require young Nigerians to reduce their ambitions because of economic constraints. Instead, he argued that government and other stakeholders should work toward an economy in which young people can earn enough to pursue independent lives and meet basic needs.

The NYCN chairman commended Hamzat for connecting discussions about youth welfare with earnings, housing and broader economic conditions. He also reaffirmed the council’s willingness to work with the Lagos State Government and other stakeholders on measures aimed at improving economic opportunities and living conditions for young Nigerians.

The wider significance of the discussion lies in the relationship between employment, income and housing affordability. For Nigeria’s growing young population, sustainable access to decent housing will depend not only on increasing housing supply but also on creating economic conditions that give workers the purchasing power and financing capacity to afford it.

The post NYCN Backs Hamzat on Youth Earnings, Affordable Housing appeared first on Housing TV Africa.

FHA property holdings near N5 trillion

The Federal Housing Authority (FHA) holds property worth nearly N5 trillion, its Managing Director and Chief Executive Officer, Oyetunde Ojo, has said.

Ojo disclosed this during a media chat broadcast by Arise News TV on Monday. He discussed the authority’s housing projects, property management activities and plans to increase housing delivery across Nigeria.

The FHA manages residential estates and collects ground rent from allottees and occupants. Ojo linked the value of the authority’s property portfolio to those activities.

“We are in possession of close to about N5 trillion worth of property because we collect ground rent,” Ojo said.

The figure shows the scale of assets under the FHA as the federal government continues to expand housing development. It also highlights the role of property management alongside the construction of new homes.

FHA says thousands of homes are ready

Ojo said between 10,000 and 15,000 housing units are ready for delivery under the current administration.

He also said the government is working with private real estate investors to increase housing supply. He pointed to the MOFI Real Estate Investment Fund (MREIF) as one source of capital for private-sector housing projects.

READ ALSO :FHA Blames Developer for Port Harcourt Building Collapse, Says Approved Plan Was Altered

According to Ojo, about N200 billion has been released to the Ministry of Finance Incorporated (MOFI) and remains available for private investors to access.

The use of private capital could help expand housing construction. However, access to finance remains a major issue for developers and homebuyers in Nigeria.

FHA provides updates on Abuja projects

Ojo gave updates on several FHA projects across the country. The developments include housing schemes in Abuja, Ibadan, Lagos, Kano and Cross River State.

In Ajoda, Ibadan, the FHA has built about 120 housing units. Construction continues on additional units at the site.

The authority has also delivered 100 housing units in Lugbe, Abuja. In Gwari, nearly 400 units are nearing commissioning.

Ojo said the Gwari project did not receive funding from the Federation Account. He also disclosed that the FHA built 1,550 housing units for the Nigerian Army in Jibi, Abuja, in less than a year.

The units are expected to receive commissioning soon.

Karsana project targets 3,112 units

The Karsana housing development in Abuja remains one of the major projects under the federal government’s Renewed Hope Cities and Estates Programme.

The project covers 3,112 housing units. Ojo said the first phase, which contains about 2,000 units, should receive commissioning soon.

FCT Minister Nyesom Wike is also constructing roads around Karsana. The road works should improve access to the housing development and surrounding areas.

The government launched construction of the Karsana project in February 2024. Since then, it has started several Renewed Hope housing projects in different parts of Nigeria.

Projects expand beyond Abuja

The FHA is also advancing projects outside the Federal Capital Territory.

Ojo said between 500 and 600 housing units in Kano should soon receive commissioning by the Ministry of Housing and Urban Development. He added that about 500 units in Lagos are also nearing completion.

The authority has started groundbreaking work on projects in several states. One of them is located in Odukpani, Cross River State, where the FHA expects to commission the development soon.

The federal government has also started a 250-unit housing project for federal civil servants in Dukpa, Gwagwalada, Abuja. The scheme includes two- and three-bedroom bungalows.

The new project will add to 350 units already delivered through the Federal Integrated Staff Housing Programme. Together, the two schemes will provide 600 units.

Housing finance remains a major challenge

The government’s housing plans come as Nigeria continues to face problems with housing finance, land administration and consumer protection.

The Federal Mortgage Bank of Nigeria is also preparing to complete 962 housing units in Abuja. The project involves the Kaba District housing scheme, which the bank recovered after an alleged diversion of a $65 million loan used to finance it.

The government has proposed further reforms to address weaknesses in the housing market. These include a proposed National Housing Finance Authority and reforms to expand access to housing finance for informal-sector workers.

Another proposed policy, the National Housing and Built Environment Regulation Policy, would introduce measures such as developer licensing and escrow protection for buyers.

What the FHA disclosure means

The FHA’s property portfolio and its ongoing projects show the size of the federal government’s role in Nigeria’s housing market.

However, increasing the number of homes alone will not solve the country’s housing challenges. Buyers also need access to finance, reliable infrastructure, secure land titles and stronger protection in property transactions.

The success of current housing programmes will therefore depend on both construction and the systems that support housing delivery, financing, regulation and long-term property management.

The post FHA Holds Nearly N5 Trillion in Property, Oyetunde Ojo Says appeared first on Housing TV Africa.

Nigeria’s headline inflation rate is expected to continue easing in the coming months, although rising food prices remain a major source of pressure, according to analysts at Comercio Partners.

The outlook followed the latest inflation figures from the National Bureau of Statistics, which showed that headline inflation declined to 15.43 per cent year-on-year in July 2026, compared with 15.91 per cent in June.

The July figure represented the second straight monthly decline in headline inflation and the largest monthly moderation recorded so far this year. Analysts said the trend suggests that underlying price pressures across parts of the economy are beginning to weaken.

A key factor behind the improvement was the sharp decline in core inflation, which excludes some volatile items. Core inflation fell to 14.97 per cent in July, from 15.92 per cent in June, while the month-on-month rate dropped substantially to 0.15 per cent, compared with 1.66 per cent in the previous month.

Comercio Partners said the movement indicated weaker underlying inflationary pressure, supported in part by reduced exchange-rate volatility. The development could provide some relief for businesses and households facing higher costs, particularly in sectors that depend heavily on imported inputs.

Food prices, however, moved in the opposite direction. Food inflation increased to 20.31 per cent year-on-year in July, up from 17.52 per cent in June. On a monthly basis, food inflation also accelerated to 5.56 per cent, compared with 3.75 per cent in June.

The analysts linked the increase to constraints affecting agricultural supply, higher logistics and distribution expenses, seasonal influences and wider structural challenges within the food supply chain. They said these pressures are not issues that monetary policy can address on its own.

The divergence between food and core inflation is particularly relevant to household spending. Food represents a substantial portion of expenditure for many Nigerian households, making increases in food prices an important factor in the cost of living even when the overall inflation rate is declining.

Despite the increase in food inflation, several major expenditure categories recorded lower contributions to headline inflation during July. The contribution of food and non-alcoholic beverages declined from 6.37 percentage points in June to 6.18 percentage points in July.

Restaurants and accommodation also recorded a lower contribution, falling from 2.06 percentage points to 1.99 percentage points. Transport declined from 1.70 percentage points to 1.64 percentage points, while housing, utilities and fuels fell from 1.34 percentage points to 1.30 percentage points.

According to Comercio Partners, the combined decline in contributions from these four expenditure divisions represented about 75 per cent of the 0.48 percentage-point reduction in headline inflation recorded between June and July.

The figures also have implications for Nigeria’s housing and construction sectors. Housing-related costs are influenced by inflation through the prices of building materials, transportation, energy and other inputs, while higher living costs can affect households’ ability to save for home purchases, meet rent obligations and service mortgages.

For developers and construction companies, a sustained moderation in underlying inflation could improve cost forecasting and financial planning. However, continued food-price increases could keep pressure on household budgets and limit the amount of income available for housing and other long-term spending.

The July data therefore presents a mixed picture for the wider economy. While easing core inflation and reduced exchange-rate volatility point to moderating price pressures, persistent food inflation remains a significant challenge for households and businesses.

For the housing and infrastructure sectors, the direction of inflation will remain important because changes in prices affect construction costs, household purchasing power, project financing and the broader affordability of housing.

The post Nigeria Inflation Slows as Food Prices Keep Pressure on Households appeared first on Housing TV Africa.

The Federal Government has started work on a 250-unit housing estate for civil servants in Gwagwalada, Abuja.

The project forms part of the Renewed Hope Housing Programme. It aims to give federal workers better access to affordable homeownership.

The groundbreaking ceremony took place on Wednesday. The Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, attended the event.

Also present was the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack. The Minister of State for Housing and Urban Development, Rt. Hon. Yusuf Abdullahi Atta, also attended.

Senior government officials, traditional rulers and other stakeholders joined them at the ceremony.

250 Homes Planned for Civil Servants

The new estate will provide 250 two-bedroom bungalows. The Office of the Head of the Civil Service of the Federation and the Federal Ministry of Housing and Urban Development will deliver the project together.

Darma said the estate would address an important need among federal workers. He noted that affordable housing could improve workers’ living conditions.

Better housing could also support productivity in the public service, the minister said.

Darma asked the contractors and consultants to follow high construction standards. He also urged the teams to ensure that the homes remain strong and durable.

The minister said the Gwagwalada project forms part of a wider housing programme. The Federal Ministry of Housing and Urban Development has projects across all 36 states and the Federal Capital Territory.

FG Lists More Housing Deliveries

Darma said the government plans to increase housing delivery before President Bola Ahmed Tinubu’s tenure ends in May 2027.

The minister said 122 rent-to-own homes would be ready before the end of August. He also listed several projects planned for delivery between September and December.

The projects include 252 homes in Lagos and 300 homes in Abuja. Another 2,800 units are planned for Karsana in Abuja.

The government also plans to deliver 2,000 units and another 1,500 units at other locations. A further 2,129 housing units are scheduled for December.

Darma said the government wants to move beyond housing announcements. He stressed the need to complete projects and hand homes to beneficiaries.

Civil Service Housing Programme

Walson-Jack described the Gwagwalada estate as an important step in improving civil servants’ welfare.

She said homeownership could give workers and their families greater security. It could also provide a lasting benefit after years of public service.

The HOCSF urged the project team to complete the estate on schedule. She also called for quality, affordability and transparency throughout the project.

Walson-Jack stressed that civil servants need completed homes. She said the government must focus on delivering houses rather than only holding groundbreaking ceremonies.

She disclosed that the Office of the Head of the Civil Service of the Federation currently has 305 housing units under the Federal Integrated Staff Housing Programme, known as FISH.

More than 40,000 civil servants have also benefited from housing loans through the Federal Government Staff Housing Loans Board, she said.

N10bn Annual Housing Loan Scheme

Walson-Jack also urged eligible civil servants to use the government’s housing finance options.

She referred to the approved N10 billion annual housing loan scheme provided through the Federal Mortgage Bank of Nigeria.

The facility could help more federal workers pursue homeownership. Access to suitable housing finance remains important for workers who cannot afford to buy homes with their savings alone.

The HOCSF also called for more partnerships to provide homes for federal workers across the country.

She encouraged state governments to consider similar housing schemes for their employees.

Why the Abuja Project Matters

The Gwagwalada estate highlights the link between housing and worker welfare. For civil servants, affordable homes can reduce the financial pressure that comes with renting or buying property in major cities.

The project also shows the importance of housing finance alongside construction. Building homes alone may not solve the affordability challenge if workers cannot access suitable payment plans or mortgage loans.

For the Federal Government, the next test will be project delivery. Completing the 250 homes, maintaining construction quality and allocating them to eligible civil servants will determine the practical impact of the scheme.

The Gwagwalada project therefore adds to the government’s wider push to increase housing supply and improve access to homeownership for Nigerians.

The post FG Begins 250-Unit Housing Estate for Civil Servants in Abuja appeared first on Housing TV Africa.

The Federal Government has opened access to housing loans of up to ₦50 million for eligible Nigerians seeking to buy, build, renovate or improve their homes under the National Housing Fund (NHF) Mortgage Loan scheme.

The Federal Mortgage Bank of Nigeria (FMBN) said qualified NHF contributors can access the facility at an interest rate capped at 6 per cent per annum.

Under the scheme, FMBN provides funds to accredited Primary Mortgage Banks (PMBs) at 4 per cent, while the PMBs lend to NHF contributors at 6 per cent.

Borrowers can repay the loan over a period of up to 30 years, although the actual loan amount and repayment period depend on the applicant’s income, age and the value of the property being financed.

FMBN generally limits individual borrowing to 90 per cent of the cost or value of the mortgaged property, while monthly repayments are typically capped at one-third of the applicant’s income.

Who can access the ₦50m housing loan?

Not every Nigerian automatically qualifies for the facility.

Applicants must:

• Be Nigerian citizens aged 18 years or above.
• Be registered under the National Housing Fund.
• Have made continuous NHF contributions for at least six months.
• Have a verifiable and regular source of income.
• Self-employed applicants must provide supporting evidence of income.

Documents applicants may need

Applicants may be required to provide:

• NHF contribution records
• Proof of income
• Recent payslips
• Property title documents
• Property valuation report
• Completed mortgage application form
• Employment documents
• Tax documents

Applicants seeking financing for construction may also be required to submit a bill of quantities.

How to apply for the ₦50m housing loan

Applicants do not apply directly to FMBN.

Instead, they are required to apply through an FMBN-accredited and licensed Primary Mortgage Bank or mortgage loan originator.

The process begins with confirming NHF registration and verifying that the applicant has made at least six months of contributions.

The applicant then selects an accredited mortgage institution and submits the required application forms and supporting documents.

The mortgage institution reviews the application, assesses the applicant’s repayment capacity and conducts the necessary legal and property valuation checks.

After the assessment, the institution forwards the application for approval.

If the application is approved, the funds are disbursed through the accredited institution for the approved housing purpose.

What can the loan be used for?

The approved funds can be used for specific housing purposes, including:

• Buying a residential property
• Building a new home
• Improving or renovating an existing home

The facility is therefore designed to support different routes to homeownership rather than only the purchase of completed houses.

Where can Nigerians get more information?

FMBN provides additional information on NHF registration, eligibility requirements and the mortgage loan scheme through its official website.

Nigerians interested in the facility are advised to check the FMBN NHF Mortgage Loan page for the latest requirements and application information.

The key point for prospective applicants is that the ₦50 million is the maximum available loan, not an automatic amount every applicant will receive. The amount and repayment period depend on factors including income, age and the value of the property being financed.

The programme provides another route to housing finance for eligible NHF contributors, particularly Nigerians who need financing to purchase, construct or improve residential property.

The post Nigerians Can Now Apply for ₦50m Home Loans as FG Opens Portal appeared first on Housing TV Africa.

Nigeria’s inflation picture is showing mixed signals as headline inflation continues to slow while food prices rise at a much faster rate.

The National Bureau of Statistics (NBS) reported a 50-basis-point decline in headline inflation to 15.43 per cent in July. At the same time, food inflation climbed from 17.52 per cent to 20.31 per cent.

The latest figures suggest that the easing in overall inflation has not yet translated into lower food costs for households. Food remains one of the largest expenses for many families, making the increase a major concern for household purchasing power.

Building Material Prices Surge as Inflation, FX Crisis Push Construction Costs Higher

Food inflation records sharp monthly increase

Food inflation also recorded a significant month-on-month increase in July.

The rate reached 5.56 per cent, compared with 3.75 per cent in June and 2.98 per cent in May. This marked the strongest monthly increase since the rebasing of the Consumer Price Index.

The year-on-year trend has also moved higher for six consecutive months. Food inflation started the year at 8.9 per cent but has since more than doubled.

The latest increase adds to concerns that food prices could remain a major source of pressure even as other parts of the inflation basket begin to stabilise.

Core inflation offers some relief

Core inflation provided a different picture in July.

The measure fell to 14.97 per cent, its lowest level since January 2025. The decline could support the Central Bank of Nigeria’s assessment that underlying price pressures are gradually becoming more stable.

The Monetary Policy Committee has maintained the Monetary Policy Rate between 26.5 and 27.5 per cent over the past year.

Money balances increased from N117.24 trillion to N133.25 trillion by June, representing year-on-year growth of 13.7 per cent. Private-sector credit also rose from N76.13 trillion to N83.26 trillion during the period.

The August inflation report will provide the MPC with newer data before its September meeting.

Transport costs add to food prices

High transport and energy costs remain important factors behind the food price increase.

Diesel prices have almost doubled since the end of February, according to the report. Diesel is widely used by logistics operators, making changes in its price important for the cost of moving agricultural goods.

Petrol prices have also increased by about 50 per cent since early March. Higher fuel costs can raise the cost of transporting food from farms to wholesale markets and then to consumers.

Insecurity in major food-producing areas has also created supply challenges. Economists, including Centre for Promotion of Private Enterprise Chief Executive Dr Muda Yusuf, have identified insecurity and logistics problems as structural issues affecting food prices.

Heavy rainfall may have added further pressure by making road transport and food distribution more difficult.

State inflation rates show wide gaps

The national inflation figure also hides major differences between states.

Adamawa recorded the highest headline inflation rate in July at 33.03 per cent. Yobe followed with 25.2 per cent, while Anambra recorded 24 per cent.

Nasarawa had the lowest headline inflation rate at 7.9 per cent. Kebbi and Borno followed with 9.1 per cent each.

Food inflation was particularly high in Adamawa, where it reached 51.4 per cent. Katsina recorded 30.8 per cent, while Zamfara posted 30.7 per cent.

The NBS has warned that state-level inflation figures should not be compared directly because household spending patterns vary across locations.

Housing costs face indirect pressure

The continuing rise in food prices also has wider implications for Nigeria’s housing sector.

When families spend more on food and transport, they have less money available for rent, mortgage payments, savings and home purchases. This can make housing affordability more difficult, especially for low- and middle-income households.

Developers also face higher operating costs when fuel, transport and other inputs become more expensive. These costs can affect construction budgets and, ultimately, the prices of new homes.

The July inflation figures therefore present a mixed outlook. While lower headline and core inflation point to improving price stability, rising food costs show that many Nigerians continue to face strong pressure on their household budgets.

The post Nigeria Food Inflation Climbs as Households Face Rising Living Costs appeared first on Housing TV Africa.

Fresh calls for affordable housing have emerged as religious leaders, legal advocates and housing stakeholders urge stronger action to address Nigeria’s growing housing shortage.

General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adejare Adeboye, used the church’s August Thanksgiving Service to pray for estate developers and Nigerians seeking decent housing. During the service, he encouraged worshippers around the world to pray that God would empower developers to build homes that ordinary Nigerians can afford.

Pastor Adeboye also prayed for tenants, asking that they receive the resources needed to build or purchase their own homes. His message reflected growing concern over the country’s housing deficit and the increasing difficulty many families face in securing decent accommodation.

Housing Costs Continue to Outpace Workers’ Income

The renewed attention comes as millions of Nigerians continue to struggle with access to affordable housing. Estimates indicate that more than 15 million people remain without adequate housing, while rising construction costs and limited housing finance continue to widen the gap between demand and supply.

Current prices within the Federal Government’s Renewed Hope Estates illustrate the affordability challenge. One-bedroom homes are priced at about ₦8.5 million, while two-bedroom units cost around ₦12 million. These figures stand in sharp contrast to the national minimum wage of ₦70,000 per month, making home ownership difficult for many low-income earners.

Falana Calls on Labour to Demand Housing Rights

Senior Advocate of Nigeria and human rights lawyer, Femi Falana, has also urged organised labour to expand its advocacy beyond wage negotiations by demanding the full implementation of housing and social welfare policies.

Speaking at a symposium in Abuja, Falana argued that workers’ welfare should include access to affordable housing, quality healthcare, pensions and other social protection programmes. He said these benefits are essential to improving living standards and ensuring long-term economic security.

Falana specifically called for the enforcement of the National Housing Act. He noted that workers contribute three per cent of their monthly earnings to the National Housing Fund with the expectation of accessing affordable homes. However, he questioned why many contributors have not benefited from the scheme despite years of deductions.

He urged labour unions to demand greater accountability and ensure governments implement existing housing policies that support workers.

Stakeholders Seek Stronger Housing Policies

Housing professionals and industry stakeholders have echoed similar concerns, saying affordable housing should become a national development priority.

During discussions at the African International Housing Show (AIHS), experts urged governments to increase investment in affordable housing and supporting infrastructure. They also called for policies that prioritise low-income households, informal sector workers, women and vulnerable groups.

Participants identified several barriers to affordable housing delivery, including rapid population growth, urbanisation, insecurity, climate change, weak urban planning, limited infrastructure and inadequate housing finance.

According to the stakeholders, many low-income families often settle in unsafe or poorly serviced communities because they have few housing options. They warned that inadequate housing contributes to poverty, social exclusion and rising insecurity.

Experts Recommend New Financing Models

Industry stakeholders also recommended practical measures to improve access to affordable homes. They called for the development of a National Affordable Housing Strategy with measurable annual housing delivery targets.

The experts urged governments to increase budget allocations for housing while encouraging stronger partnerships with pension funds, insurance companies

sovereign wealth funds and private investors to finance large-scale housing projects.

They also recommended that mortgage institutions introduce financing products designed specifically for informal sector workers by adopting alternative methods of assessing income. In addition, they said housing cooperatives should play a larger role in expanding affordable home ownership across Nigeria and other African countries.

Affordable Housing Remains Central to National Development

The growing support from religious leaders, labour advocates and housing professionals highlights the increasing urgency of Nigeria’s housing challenge. While stakeholders continue to propose different solutions, many agree that stronger policy implementation, improved housing finance and closer collaboration between government and the private sector will be necessary to make affordable housing accessible to millions of Nigerians.

The post Adeboye, Falana Renew Calls for Affordable Housing as Nigeria’s Housing Crisis Deepens appeared first on Housing TV Africa.

Housing affordability in Nigeria’s two largest cities, Lagos and Abuja, is worsening as annual rent increases of up to 20 per cent push accommodation costs further beyond the reach of millions of urban residents.

The Managing Director of Stallion Cardinal Homes, Dr Waliu Adeoye, raised the alarm while assessing the state of Nigeria’s real estate sector in 2026, warning that rising rents, weak mortgage access, and land administration bottlenecks are converging into a full-scale housing strain.

According to Adeoye, rental costs in several parts of Lagos and Abuja now rise by between 15 and 20 per cent annually, compounding hardship for households already battling inflation and stagnant incomes.

He noted that the situation is particularly severe because the majority of urban Nigerians are renters, while landlords continue to demand one to two years’ rent upfront, a practice he described as a major barrier to housing access.

Adeoye said Nigeria’s housing market is at a pivotal moment, driven by a rare alignment of policy reforms spanning taxation, land administration, housing finance, and data infrastructure.

“For the first time in decades, housing-related reforms are advancing simultaneously rather than in isolation,” he said. “The real test is whether these policies will translate into real homes, accessible mortgages, and secure land titles for ordinary Nigerians.”

He pointed to ongoing initiatives such as the Nigeria Tax Act 2025, the Ministry of Finance Incorporated Real Estate Investment Fund, the Land4Growth digital land titling programme, the recapitalisation of the Federal Mortgage Bank of Nigeria, and plans for a National Housing Data Centre as signs of renewed momentum.

Despite these measures, Adeoye warned that Nigeria’s housing deficit continues to widen, growing from an estimated 17 million units a decade ago to about 28 million units today, underscoring the urgency for implementation rather than policy announcements.

On tax reforms, he acknowledged that provisions allowing rent deductions and tax relief across parts of the construction value chain could ease pressure on developers and tenants. However, he argued that the benefits remain limited in practice.

“A rent deduction capped at ₦500,000 offers minimal relief to tenants paying ₦3 million annually, while mortgage tax incentives mean little when mortgage penetration remains below one per cent of GDP,” he said.

Adeoye identified land administration as the most critical structural challenge in the housing sector, noting that fewer than five per cent of land parcels nationwide are formally titled.

He explained that this leaves between $150 billion and $300 billion worth of property as “dead capital” that cannot be used as collateral, transferred securely, or leveraged for housing finance.

While describing the Land4Growth digital titling programme as potentially transformative, he stressed that its success depends largely on transparency and political will at the state level, particularly in protecting tenure rights for residents of long-established informal settlements.

On mortgage financing, Adeoye said Nigeria’s mortgage-to-GDP ratio of about 0.5 per cent highlights how inaccessible home ownership remains. Although the Federal Mortgage Bank offers single-digit interest loans under the National Housing Fund, access is still extremely limited.

“Fewer than 20,000 Nigerians access NHF-backed mortgages each year in a country of over 200 million people,” he said, adding that over 90 per cent of workers operate in the informal economy and remain excluded from formal housing finance.

While supporting discussions around rental regulation, Adeoye cautioned against excessive controls that could discourage private housing supply. He advocated for standardised lease agreements, efficient dispute resolution mechanisms, and targeted tax incentives to encourage long-term affordable rental housing.

Urban analysts say unless policy reforms are matched with sustained political commitment and private-sector collaboration, rising rents in Lagos and Abuja could continue to accelerate in 2026, deepening housing inequality across Nigeria’s urban centres.

The post Lagos, Abuja Rents Climb 20% Yearly as Housing Pressure Deepens appeared first on Housing TV Africa.

For many young Nigerians, the dream of owning a home is becoming increasingly challenging. Soaring property prices, limited access to affordable mortgages, and economic instability have made home ownership seem out of reach, even for those with steady jobs and ambitions to settle down

With rising inflation, unstable incomes, and soaring property prices, housing is increasingly beyond the reach of the average young Nigerian. In major cities like Lagos and Abuja, land prices have surged dramatically in the last decade, with even small plots in urban centers costing several millions of naira.

According to research, Nigeria Mortgage has a very high Interest rate which range from 15% to 25%, making monthly payments unaffordable for most young people in Nigeria coupled with the high rate of unemployment amongst the youths

Housing policies have also failed to keep pace with the country’s fast-growing population with the increase in the rate of unemployed youths in Nigeria

According to Housing advocate and Urban Planner Musa Ibrahim, home ownership for young Nigerians is more than a personal goal it is an important driver of economic stability. “When young people own homes, they are more likely to invest in their communities and contribute to local economic growth,”

The government has made several attempts to address the problem through schemes such as the National Housing Fund (NHF) and partnerships with private developers. However, many Nigerian youth find the process discouraging or the housing options too expensive.

Some youths are now turning to cooperative societies, joint savings schemes, and real estate crowdfunding as alternative routes to home ownership. Others are exploring opportunities in satellite towns and emerging suburbs where land remains relatively affordable.

Despite the odds, many youths still believe that with better government policies, lower mortgage rates, and innovative housing solutions, the next generation of Nigerians may yet have a fair shot at turning their dream of home ownership into reality.

The post Affordable Housing: Hope for Nigerian Youth Seeking Home Ownership appeared first on Housing TV Africa.