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.

REDAN Seeks New Housing Finance Models

The Real Estate Developers Association of Nigeria (REDAN) has called for stronger blended finance structures to increase investment in Nigeria’s housing and infrastructure sectors.

REDAN President, Oba Akintoye Adeoye, made the call at the 2026 Africa Environmental, Social and Governance (ESG) Conference and Exhibition in Lagos.

John Saka, Executive Secretary and Business Development Specialist at REDAN’s national secretariat, disclosed this in a statement issued on Thursday in Abuja.

Adeoye said Nigeria’s housing and infrastructure needs require more than traditional sources of funding. He called for closer cooperation among government, developers, mortgage institutions, commercial banks and development finance institutions.

He also identified institutional investors and other sources of capital as important partners in expanding housing investment.

Blended Finance Could Support Housing Investment

Blended finance combines public, private and development-focused funds to reduce investment risks. It can also help attract private capital to projects that may face funding challenges under normal commercial terms.

Adeoye said this approach could help developers finance more housing projects while improving affordability for Nigerians.

He urged REDAN and the Mortgage Banking Association of Nigeria (MBAN) to promote financing models that support sustainable and affordable housing.

According to him, stronger links between developers and financial institutions could create better conditions for long-term investment in the sector.

The issue is important because housing projects often require significant upfront capital. Developers also need access to financing that matches the long development periods of housing and infrastructure projects.

Better financing structures could therefore support projects that might struggle to secure funding through conventional commercial loans alone.

REDAN Pushes Green Innovation

Adeoye also urged real estate developers to adopt more green technologies and sustainable construction practices.

He said developers could improve efficiency and long-term value through energy-efficient buildings, renewable energy and sustainable construction materials.

He also highlighted water efficiency, waste management, climate-resilient infrastructure and smart technologies as areas with room for greater innovation.

Adeoye said developers should view sustainable real estate as an investment rather than simply an additional cost.

Energy-efficient buildings can reduce operating expenses over time. Sustainable materials and better resource management can also improve building performance and the experience of occupants.

For Nigeria’s housing industry, the shift towards sustainable development could also support buildings that are better prepared for environmental and climate-related pressures.

Governance Remains Critical

The REDAN president also stressed the need for stronger governance across the real estate sector.

He identified transparency, accountability, ethical business practices and responsible leadership as key elements of a credible property market.

Adeoye said good governance can strengthen consumer confidence and improve investor trust. It can also support access to finance and improve the credibility of real estate businesses.

Strong governance remains important to both developers and consumers. Clear business practices can help protect buyers while creating greater confidence among financial institutions and investors.

ESG Conference Focuses on Practical Solutions

The 2026 Africa ESG Conference and Exhibition focused on the theme, “ESG as a Competitive Advantage: Blended Finance, Green Innovation, and Governance for Nigeria’s Real Estate Future.”

REDAN and the Mortgage Banking Association of Nigeria jointly organised the conference. The Nigeria Mega Project Expo 2026 partnered with both organisations for the event.

The conference provided a platform for stakeholders to discuss how environmental, social and governance principles can influence Nigeria’s real estate sector.

Adeoye urged participants to move beyond discussions and focus on practical solutions and partnerships.

For Nigeria’s housing market, the discussion highlights the close link between finance, sustainability and good governance. Expanding access to suitable funding, encouraging efficient building practices and improving industry standards can help create stronger conditions for housing and infrastructure investment.

The wider significance lies in bringing developers, lenders, government agencies and investors closer together. Such cooperation can help the sector develop financing models and business practices that support a more sustainable and accessible real estate market.

The post REDAN Urges Blended Finance to Unlock Nigeria’s Housing Potential 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.

Private developers have started a 15-hectare housing project in the Kabusa-Sheretti corridor of Abuja as demand for residential properties continues to grow across the Federal Capital Territory.

The project, known as Amani Abuja, involves Kopitar, OMEC Properties and Cynosure Realty. The developers plan to add several types of homes to the growing residential market in the area.

Project Targets Growing Abuja Housing Demand

The project sits in Kabusa, an emerging district within Phase Four of the Federal Capital City Master Plan.

The development will offer different types of homes. Plans include one-, two- and three-bedroom apartments. The project will also feature three- and four-bedroom terrace duplexes, semi-detached houses and standalone homes.

The developers also plan internal roads, drainage, electricity and recreational areas. These facilities should support the development as a residential community.

However, infrastructure alone will not make the homes affordable. The final cost will depend on property prices, household income, financing terms and access to mortgages.

Private Developers Support Housing Supply

The project highlights the role of private developers in meeting Abuja’s housing needs.

Government programmes alone cannot meet all the demand created by population growth and urbanisation. Private investment can therefore help increase the number of homes available to buyers and renters.

Partnerships can also help developers combine resources. Companies can bring together land, finance, technical skills and development capacity to deliver larger projects.

The real impact of Amani Abuja will depend on the number of homes the developers complete. Prices and the income groups that can afford the properties will also determine its wider contribution to the market.

Kabusa-Sheretti Corridor Attracts New Development

The location reflects Abuja’s continued outward growth.

As land becomes harder to find in established districts, developers and homebuyers are looking towards emerging areas. These locations can offer opportunities for new housing projects and urban expansion.

Infrastructure will play a major role in their success. Good roads, drainage, electricity, water, security and public transport can help connect new communities to jobs and commercial centres.

Poor infrastructure can create other problems. Residents may face longer journeys and higher transport costs when housing expands faster than supporting services.

Infrastructure Can Affect Housing Prices

Infrastructure also affects the cost of new homes.

Developers often need to provide roads, drainage and other services within their projects. These costs can increase the price of completed properties.

Public investment in infrastructure around new development areas could help reduce some of these costs. Better coordination between government and developers could also support more efficient housing delivery.

For lower- and middle-income households, this issue remains important. A new home has limited value to a buyer who cannot afford the purchase price or the cost of financing.

Housing Supply Must Match Household Incomes

Nigeria still faces a major housing shortage. The Federal Government has previously put the national housing deficit at about 15 million units.

A single project cannot close such a large gap. However, projects like Amani Abuja can contribute to the wider supply of housing when developers complete them and bring the homes to the market.

The type of housing also matters. Increasing supply will have a greater effect when projects serve different income groups.

Land, building materials, labour, infrastructure, regulation and finance all affect construction costs. Developers must balance these costs with what potential buyers can afford.

Mortgage Access Remains Important

Housing availability does not always translate into home ownership.

Many households need long-term mortgage finance to buy a home. High borrowing costs and limited access to suitable mortgage products can reduce the number of people who can purchase newly built properties.

This makes housing finance an important part of Abuja’s growing residential market. Developers may increase supply, but households also need financing options that match their incomes.

Abuja Expansion Creates Opportunities

Abuja’s population growth continues to create demand across different housing segments. Emerging districts can give developers more space to build while allowing the city to expand.

Rapid expansion also creates planning challenges. Residential areas need roads, public transport and basic services to keep pace with new construction.

Government agencies and private developers will therefore need to coordinate development as Abuja’s urban footprint grows.

The post Private Developers Begin 15-Hectare Abuja Housing Project appeared first on Housing TV Africa.

Nigeria’s rising cement prices are putting fresh pressure on the housing market. Real estate developers warn that higher building costs could slow construction and make affordable homes harder to deliver.

The development comes as the Federal Competition and Consumer Protection Commission (FCCPC) investigates cement pricing in Nigeria. The commission is also examining price differences between Nigeria and selected African markets.

Cement prices climb

Market checks cited in the report showed that a 50kg bag of cement sold for N9,300 to N9,700 in January 2026. By July, the price had reached as much as N15,000 in some locations.

Current prices in parts of Nigeria range from about N11,000 to N13,000 per bag. Prices vary by location, supplier and distribution channel.

The increase has added to existing pressures on property developers. Many are already dealing with high borrowing costs, expensive energy, rising material prices and weak consumer purchasing power.

Higher cement costs can reduce developers’ profit margins. They can also force firms to revise project budgets, slow construction or transfer some of the extra cost to buyers and tenants.

Developers seek lower costs

Victor Ameh, managing director of Legendary Foreshore Construction, said cement prices between N13,500 and N15,000 were making construction more difficult.

Ameh noted that many developers depend on bank financing. High borrowing costs therefore make any increase in building material prices more difficult to absorb.

He called for more investment across the cement value chain. He also urged measures to reduce electricity and fuel costs, saying lower production costs would support the construction industry.

Chudi Ubosi, chairman of the Association of Capital Market and Valuers, also called for more investment and competition in cement production.

Ubosi pointed to Nigeria’s large limestone reserves as an opportunity for new investment. He said more producers could help increase competition in the cement market.

He also warned that high cement prices have effects beyond construction. According to him, the impact reaches manufacturing, real estate, commerce and hospitality.

FCCPC faces calls for wider review

The FCCPC investigation has also drawn calls for a broader review of cement pricing. Industry stakeholders say production costs alone do not explain the final price paid by consumers.

Mansur Ahmed, interim chairman and president of the Pan-African Manufacturers Association (PAMA), said the commission should consider the wider economic environment. He cited financing costs, infrastructure gaps and other economic factors.

Muda Yusuf, director-general of the Centre for the Promotion of Private Enterprise (CPPE), also called for a detailed review of cement production costs.

Yusuf said taxes, levies, transport, logistics, energy and financing costs should form part of any comparison between Nigeria and other countries. He also stressed the importance of considering both producers and consumers.

West African prices vary

Cement prices across West Africa show that regional differences are not uniform.

In Lomé, Togo, a 50kg bag sells for about CFA4,550. That was equivalent to roughly N10,844 or $8.03 using the August 18, 2026 exchange rates cited in the report.

The reported average price in Benin Republic was CFA4,500, or about N10,725. In Ivory Coast, CFA5,000 was equivalent to approximately N11,917.

In Ghana, a 50kg bag sold for about GH₵106, equivalent to roughly N12,962.

Prices within Togo also varied sharply by location. A 50kg bag cost about N10,844 in Lomé, compared with approximately N15,492 in Kara and N17,160 in Dapaong.

The differences point to the role of transport, distribution, taxes and other supply-chain costs in determining the final price of cement.

Housing affordability under pressure

For Nigeria’s housing sector, the main concern is the effect of higher cement costs on project delivery.

Developers now face difficult choices. They can absorb the extra cost, reduce the size of projects or raise property prices and rents.

The Real Estate Developers Association of Nigeria (REDAN) described cement affordability in March as a national housing emergency. The association also called for a review of pricing dynamics, including differences between domestic and export prices.

Higher construction costs matter because they affect the entire housing supply chain. When developers face larger project expenses, the cost of new homes can rise. This can make it harder for households to enter the property market or afford better rental housing.

What the FCCPC investigation could mean

The FCCPC investigation could have implications beyond the cement industry. Its findings may help clarify the role of production costs, competition, distribution and other market factors in determining cement prices.

For developers, however, the immediate issue is affordability. They need construction materials at prices that allow projects to remain viable while keeping homes within reach of buyers and tenants.

As the investigation continues, policymakers will face the challenge of supporting a sustainable cement industry while addressing the rising cost of housing. The outcome could influence how Nigeria approaches competition, construction costs and efforts to expand housing delivery.

The post Cement Price Surge Raises Fresh Housing Crisis Concerns in Nigeria appeared first on Housing TV Africa.

The Nigerian Institution of Building (NIOB) has warned that quacks pose a serious threat to building safety in Nigeria.

The NIOB President, Mr Daniel Kolade, spoke on Saturday at the closing ceremony of the institution’s 56th annual conference in Abuja.

The conference focused on “Repositioning the Building Profession, Advocacy and Policy Influence in Housing Delivery for a Sustainable Built Environment.”

NIOB Calls for Action Against Quacks

Kolade said the conference gave builders from across Nigeria a chance to discuss key challenges in the building sector.

He said the discussions also examined ways to improve housing delivery through better policies and stronger professional practice.

According to Kolade, government, professionals and the public must work together to tackle quackery in the construction industry.

He called on the Federal Government to give full legal backing to the National Building Code.

Some states have already adopted the code. However, Kolade said stronger federal action remains necessary.

He said better enforcement would help improve compliance with building standards and reduce the risk of building collapse.

NIOB Wants Prevention of Building Collapse

Kolade also raised concerns about the repeated cases of building collapse across Nigeria.

He questioned whether government action after a building collapse has stopped the problem from happening again.

The NIOB president said authorities should focus more on preventing building failures.

He also called for stricter enforcement of approved construction standards.

Building collapse remains a major concern for Nigeria’s housing sector. Such incidents can lead to deaths, property losses and higher costs for affected families and investors.

Public Urged to Hire Qualified Professionals

Kolade urged professionals in the built environment to perform their duties with care.

He also warned Nigerians against giving professional construction work to unqualified people.

He described a quack as a person who claims to handle almost every part of a building project without the required training or certification.

Such work may include preparing building designs, construction and maintenance.

Kolade advised property owners to check the qualifications of people they hire for building projects.

He said Nigerians should not sacrifice safety in an attempt to reduce construction costs.

The NIOB president encouraged property owners to engage qualified builders, architects, engineers and other relevant professionals.

Professional Standards Key to Safer Housing

Kolade said professional involvement at every stage of construction can help reduce construction risks.

Qualified professionals can help identify poor workmanship, design problems and failures to meet building regulations.

This issue is important as Nigeria works to increase housing supply.

The country needs more homes, but new housing must also meet safety and quality standards.

Poor construction practices can increase risks for homeowners, tenants, developers and investors.

NIOB Supports Renewed Hope Housing

Kolade said the NIOB remains ready to support the Federal Government’s Renewed Hope Initiative.

He specifically mentioned the Renewed Hope Housing projects across the country.

However, he called for policies that would increase the role of qualified professionals in government housing programmes.

He said professional input would help ensure that housing projects meet required standards.

Kolade also welcomed the position presented by the Secretary to the Government of the Federation, Sen. George Akume.

Akume chaired the opening ceremony of the NIOB conference.

Kolade said the NIOB would continue to work with the government and other stakeholders to improve the building industry.

He also said the institution would support efforts to promote sustainable housing delivery.

NIOB Says Quacks Have No Hiding Place

Kolade said the NIOB would intensify efforts to identify unqualified practitioners in the industry.

He urged professionals to challenge practices that put building safety at risk.

“My message for them is that they should just know that their time is over. There is no more hiding place for those quacks within the industry,” he said.

The statement reflects the institution’s growing focus on professional standards and accountability within the building sector.

Jos North Chairman Calls for Compliance

Also speaking at the event, the Chairman of Jos North Local Government, Plateau, Mr John Christopher, called for strict compliance with approved building standards.

Christopher said quality housing remains important to human life.

He urged young professionals to embrace new ideas while keeping safety and quality at the centre of their work.

He also called for stronger compliance with approved building designs and specifications.

According to him, the rising cases of building collapse make such action necessary.

Christopher further urged the Federal Government to give greater attention to housing development and affordable shelter.

Housing remains one of the basic needs of Nigerians.

The NIOB’s warning highlights a major challenge for Nigeria’s housing and construction sectors. Increasing the supply of homes must go hand in hand with strong regulation and professional practice.

Better enforcement of building standards can help protect lives, property and investment while supporting safer housing delivery across the country.

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The Federal Government has warned that poor workmanship, substandard building materials and the activities of unqualified practitioners could undermine efforts to expand access to safe and affordable housing across Nigeria.

Secretary to the Government of the Federation (SGF), Senator George Akume, gave the warning in Abuja while chairing the 56th Annual Conference of the Nigerian Institute of Building (NIOB), themed “Repositioning the Building Profession, Advocacy and Policy Influence in Housing Delivery for a Sustainable Built Environment.”

Akume said Nigeria’s housing challenge required more than increasing the number of buildings constructed. He stressed that housing delivery must also focus on safety, affordability, durability and compliance with professional standards.

According to him, housing has implications beyond physical structures, as it affects household security, dignity, family stability, quality of life and the ability of Nigerians to build wealth.

The SGF identified several factors contributing to building failures in the country, including non-compliance with approved specifications, inadequate quality control, improper construction techniques, foundation problems and weak supervision on building sites.

He also warned certified builders against allowing their professional names or seals to be attached to projects they had not supervised. Such practices, he said, could weaken professional accountability and expose occupants to serious risks.

Akume called for greater public education on the consequences of poor construction, noting that defective buildings can result in substantial financial losses as well as loss of lives.

The government official also pointed to affordability as a major barrier to home ownership. Rising construction costs, he said, have made decent housing increasingly difficult for many Nigerian households to afford.

To address the cost challenge, Akume said the Federal Government was supporting the production of building materials across Nigeria’s six geopolitical zones. The initiative is aimed at increasing domestic production and helping to reduce construction costs.

He urged building professionals to contribute their technical knowledge, research capacity and industry networks to government housing policies and programmes from the design and planning stages through implementation.

Akume also encouraged professionals to work through consortia, introduce auditable quality-management systems, improve the training and certification of artisans, and deepen collaboration with government and reputable private developers.

Representing the Minister of Housing and Urban Development, Muttaqha Darma, the Director of Public Buildings, Musa Abdullahi, said recurring building collapses remained a serious concern for the construction industry.

Darma stressed the responsibility of builders in ensuring that construction activities comply with established engineering standards. He highlighted quality control, proper testing of materials and effective site supervision as important safeguards against construction failures.

He urged participants at the conference to develop practical recommendations capable of improving housing delivery and addressing persistent weaknesses within the sector.

Earlier, NIOB President Daniel Kolade said the institute was using advocacy and policy engagement to strengthen the building profession, improve construction standards and increase public awareness of the importance of hiring qualified professionals.

Kolade also identified quackery as a major challenge in the construction sector and advised Nigerians to engage properly qualified professionals when undertaking building projects.

The concerns raised at the conference come as Nigeria continues to grapple with the twin challenges of housing affordability and construction quality. For the housing sector, improving access to homes will therefore depend not only on increasing supply but also on stronger professional oversight, better materials, effective regulation and construction practices that protect the long-term value and safety of buildings.

The post FG Warns Shoddy Work, Quackery Could Derail Nigeria’s Housing Drive appeared first on Housing TV Africa.

The housing affordability crisis confronting Nigeria and many African countries cannot be solved merely by increasing the number of houses constructed.

Housing becomes affordable when the entire financial architecture supporting its production, purchase and rental is deliberately structured for affordability.
Experience from the United States, United Kingdom, Canada, Singapore and Malaysia demonstrates that governments rarely expect low- and middle-income households to purchase homes produced entirely with expensive commercial land, commercial infrastructure, commercial development finance and commercial mortgages.

Instead, governments intervene at different points in the housing value chain.
They subsidise land.
They provide capital grants.
They supply infrastructure.
They offer low-interest development finance.
They guarantee mortgages.
They provide tax incentives to private investors.
They support social and affordable rental housing.
They give direct assistance to qualifying households.
They leverage government resources to attract much larger volumes of private and institutional capital.
The central finding of this report is therefore:
Affordable housing is created by affordable finance.
The United States relies heavily on tax credits, federal housing programmes, rental assistance and a sophisticated private housing-finance market.

The United Kingdom combines large-scale government grants with housing associations, local authorities, borrowing and private institutional capital.
Canada uses federal funding, concessional finance and partnerships with provinces, territories and municipalities.

Singapore integrates public land management, public housing development, household grants, compulsory savings and specialised housing loans.
Malaysia combines direct public housing programmes, construction subsidies, government-backed housing credit guarantees and public-private delivery mechanisms.
Nigeria does not need to copy any single country.

The stronger strategy would be to combine suitable elements from each model into a Nigeria Affordable Housing Finance Framework adapted to the country’s income structure, federal system, large informal economy and housing deficit.

1. INTRODUCTION: WHY AFFORDABLE HOUSING IS REALLY A FINANCE QUESTION
Governments frequently announce affordable housing programmes by stating the number of houses they intend to construct.
But the more important questions are:
Who finances the land?
Who pays for infrastructure?
At what interest rate does the developer obtain construction finance?
How much equity must the developer contribute?
At what interest rate does the eventual purchaser borrow?
What happens to households that cannot qualify for conventional mortgages?
How are low-income households that should rent rather than purchase supported?
If these questions are not addressed, calling a development “affordable housing” does not make it affordable.

A developer who:
* purchases land commercially;
* finances infrastructure;
* borrows construction money at high interest;
* purchases expensive building materials;
* pays taxes and development charges;
* bears approval delays; and
* must recover capital and earn a reasonable return
cannot simply reduce the selling price because government labels the project affordable.
The countries examined in this report demonstrate a different approach.
They intervene before the house reaches the household.

2. UNITED STATES: USING TAX POLICY AND PRIVATE CAPITAL
The United States provides an important example of how government can stimulate affordable housing without directly constructing every home.
One of the country’s most significant affordable rental housing instruments is the Low-Income Housing Tax Credit, or LIHTC.
HUD describes LIHTC as the most important resource for creating affordable rental housing in the United States. State and local allocating agencies currently receive the equivalent of approximately US$12 billion in annual budget authority to issue credits supporting the acquisition, rehabilitation or construction of rental housing targeted at lower-income households. (HUD User⁠)
How the tax-credit mechanism works
Instead of government paying the entire construction cost:
Government creates a tax credit.
The credit is allocated to an eligible affordable housing project.
Investors provide equity to the project in return for the tax benefits.
The developer therefore needs less conventional debt.
Lower debt reduces the amount of rental income required to service financing.
That makes lower rents more financially feasible.
The important lesson is:
Government can finance affordable housing through the tax system, not only through direct budget expenditure.
This is particularly relevant to Nigeria.
Rather than depending entirely on annual housing appropriations, government could provide carefully designed tax incentives to pension-backed investment vehicles, banks, insurance companies, REITs and other qualified investors financing certified affordable rental projects.

3. THE AMERICAN MODEL ALSO SUPPORTS THE HOUSEHOLD
The United States demonstrates another important distinction in housing policy:
Supply subsidy versus demand subsidy.
A supply-side subsidy makes housing cheaper to produce.
A demand-side subsidy increases the household’s ability to pay.
America uses both.
Rental assistance programmes help eligible households meet rental costs, meaning government does not assume that every low-income household should immediately become a homeowner.
This is a critical lesson for Nigeria.
An effective national housing policy needs:
homeownership housing;
affordable rental housing;
social rental housing;
student and youth housing;
elderly housing;
worker housing;
and other tenure options.
Homeownership cannot be the only measure of housing success.

4. UNITED KINGDOM: CAPITAL GRANTS PLUS HOUSING PROVIDERS
The United Kingdom provides a strong example of using public money to reduce the capital cost of affordable housing.
Housing policy is devolved, so arrangements differ among England, Scotland, Wales and Northern Ireland. This report focuses principally on England.
The government’s Social and Affordable Homes Programme 2026–2036 is a ten-year programme valued at £39 billion. (GOV.UK⁠)
Homes England is responsible for at least £27 billion of this funding outside London. (GOV.UK⁠)
The programme provides grant funding to support the capital cost of developing affordable housing for rent or sale. (GOV.UK⁠)
Why capital grants matter
Consider an illustrative affordable housing development costing £100 million.
If government provides £35 million as capital grant, the housing provider does not need to finance the entire £100 million through commercial borrowing.
It may finance the balance through:
* its own capital;
* bank borrowing;
* bonds;
* institutional investment;
* rental income; and
* other funding.
Reducing debt requirements makes lower rents economically sustainable.
This represents a fundamental principle:
Affordable rent often begins with lower-cost capital, not rent control.

5. HOUSING ASSOCIATIONS: AN IMPORTANT INSTITUTIONAL LESSON
The British system also demonstrates the importance of specialised housing providers.
Government does not necessarily have to become:
the developer,
the contractor,
the property manager,
the landlord,
the mortgage lender,
and the maintenance company.
Instead, government can create policy, provide subsidy, regulate affordability and work through qualified delivery institutions.
Nigeria could significantly expand the role of:
* housing cooperatives;
* nonprofit housing organisations;
* state housing corporations;
* private affordable housing providers;
* pension-backed rental housing companies; and
* professionally governed housing associations.
The objective should be to develop institutions capable of holding affordable housing assets for decades, not merely developers interested in selling units immediately after construction.

6. CANADA: FEDERAL GOVERNMENT, PROVINCES AND MUNICIPALITIES WORKING TOGETHER
Canada’s approach is particularly important for Nigeria because both countries operate federal systems.
Canada’s National Housing Strategy is currently a 10-plus-year programme exceeding C$115 billion . (Canada Mortgage and Housing Corporation⁠)
By July 2026, official CMHC reporting indicated that more than C$82 billion had been committed toward supporting the creation, acquisition or repair of hundreds of thousands of housing units. (Canada Mortgage and Housing Corporation⁠)
A major feature of the Canadian model is the participation of different levels of government.
The federal government provides financing.
Provinces and territories participate through bilateral agreements and matching arrangements.
Municipalities influence:
* land use;
* planning;
* permitting;
* density;
* development charges;
* infrastructure; and
* housing approvals.
The lesson for Nigeria is significant.
Affordable housing should not be treated as the responsibility of the Federal Ministry of Housing alone.
The Federal Government cannot solve Nigeria’s housing challenge if states control important land and planning functions but affordable housing policy is not integrated across levels of government.

7. A NIGERIAN VERSION OF FEDERAL-STATE COST SHARING
Nigeria could establish a framework in which access to federal affordable housing funds is conditional upon state participation.
For example:
Federal Government provides:
* affordable housing capital grant;
* long-term financing;
* mortgage guarantee;
* tax incentives.
State Government provides:
* land;
* title;
* planning approval;
* reduction or waiver of development charges;
* part of infrastructure.
Local Government provides:
* local infrastructure coordination;
* community integration;
* local planning support.
Private developer or housing provider provides:
* equity;
* technical delivery;
* construction;
* project management.
Financial institutions provide:
* development debt;
* mortgage finance;
* rental housing finance.
This allows government money to leverage other people’s money rather than becoming the only source of housing finance.

8. SINGAPORE: INTERVENING ACROSS THE ENTIRE HOUSING VALUE CHAIN
Singapore provides perhaps the most integrated example among the countries examined.
Its housing system is not based simply on subsidising mortgage interest.
Government intervention extends across:
* land;
* planning;
* development;
* pricing;
* household grants;
* housing finance;
* retirement savings; and
* resale conditions.
The Housing & Development Board plays a central role in public housing development.
Eligible first-time families may currently receive an Enhanced CPF Housing Grant of up to S$120,000 toward qualifying new or resale flat purchases. (HDB⁠)
Additional CPF housing grants exist for eligible resale purchases, including grants of up to S$80,000 under relevant family arrangements. (HDB⁠)
The lesson is not simply that Singapore gives people money.
The more important lesson is that Singapore addresses affordability systemically.

9. WHY LAND POLICY MATTERS
Housing affordability begins with land.
Where land prices become highly speculative, the cost ultimately appears in the selling price or rent.
Singapore demonstrates how strategic public control of land can support long-term housing objectives.
Nigeria’s public land should similarly be treated as an economic development instrument, not merely a revenue-generating commodity.
When government contributes land to an affordable housing project, that contribution should be valued transparently.
If land worth ₦5 billion is contributed, government has effectively invested ₦5 billion.
The public should receive a measurable affordability benefit in exchange.
That benefit could be:
* reduced selling prices;
* controlled rents;
* permanent affordable housing;
* shared ownership;
* rent-to-own housing;
* worker housing.
Public land should never be transferred cheaply for “affordable housing” and subsequently converted into luxury housing without the public recovering the value of its subsidy.

10. SINGAPORE’S SECOND LESSON: LINKING SAVINGS AND HOUSING
Singapore’s housing framework also demonstrates the power of connecting long-term household savings with housing finance.
This raises an important question for Nigeria:
Can the country’s enormous pools of long-term institutional savings play a greater role in housing without compromising the safety of contributors?
The answer should not be reckless withdrawal of retirement savings.
Instead, Nigeria should explore secure structures through which long-term capital can finance:
* mortgage-backed assets;
* affordable rental portfolios;
* infrastructure;
* housing bonds; and
* professionally managed residential investment.
The key requirement is strong regulation and appropriate risk management.

11. MALAYSIA: DIRECT SUBSIDY AND GOVERNMENT GUARANTEES
Malaysia offers highly relevant lessons for Nigeria because it combines support for low-income households with mechanisms to extend housing finance to people who may struggle to qualify under conventional banking rules.
Under Malaysia’s Program Perumahan Rakyat — PPR, qualifying low-income households can access public rental housing, with official information indicating rents as low as RM124 per month, excluding maintenance. (KPKT⁠)
This demonstrates that governments must sometimes accept that the poorest households cannot pay the full economic cost of housing.
Trying to solve extreme low-income housing solely through mortgages is unrealistic.

12. MALAYSIA’S RUMAH MESRA RAKYAT MODEL
Malaysia’s Rumah Mesra Rakyat programme is designed for qualifying households with low incomes who have suitable land but lack adequate housing.
The official programme currently lists a RM20,000 construction subsidy, with repayment arrangements extending over 16 to 25 years and estimated payments around RM300 monthly under the programme structure. (SPNB⁠)
This concept has considerable potential for rural Nigeria and smaller cities.
Millions of Nigerians may have access to family land or community land but lack sufficient capital to complete a decent home.
Rather than constructing entirely new estates everywhere, Nigeria could consider a properly controlled programme of:
Serviced Plot + Core Housing + Incremental Expansion Finance
Households could receive a structurally sound starter home that can be expanded as income improves.

13. MALAYSIA’S MORTGAGE GUARANTEE MODEL
Perhaps one of Malaysia’s most relevant innovations for Nigeria is the housing credit guarantee system.
SJKP explicitly aims to help Malaysians—including people without fixed incomes or conventional payslips—obtain housing finance from participating financial institutions. (SJKP⁠)
Under the SJKP MADANI scheme, mortgage financing can reach RM360,000, with financing periods of up to 35 years. The guarantee may cover financing up to a maximum of 120% of the residential property’s purchase price when specified ancillary costs are included. (SJKP⁠)
This addresses one of Nigeria’s biggest housing finance problems:
Millions of Nigerians have income, but they do not have payslips.
An entrepreneur may earn ₦800,000 monthly.
A trader may turn over millions of naira annually.
A driver may have reliable daily income.
A consultant may earn irregular but substantial income.
Yet conventional mortgage underwriting may reject them because their income does not resemble a traditional monthly salary.
Nigeria therefore needs to move from:
Salary-based mortgage assessment
toward:
Verified-income mortgage assessment.
Evidence could include:
* bank statements;
* verified business transactions;
* tax filings;
* rent-payment history;
* cooperative savings;
* digital payment records;
* audited business cash flow;
* verified contracts.
Government guarantees could absorb part of the lender’s credit risk while maintaining prudent underwriting.

14. COMPARING THE FIVE MODELS
Financing Instrument United States United Kingdom Canada Singapore Malaysia
Direct capital subsidy Yes Strong Strong Strong Strong
Tax incentives Very strong Used Used Less central Used
Government-supported loans Yes Strong Strong Very strong Yes
Mortgage guarantees Strong system Available through wider system Important Public finance structure Very relevant
Rental assistance/social housing Strong Strong Strong Strong Strong
Public/strategic land intervention Local/state Important Provincial/local Very strong Important
Household purchase grants Various Various Various Very strong Various
Private capital mobilisation Very strong Very strong Strong Complementary Strong
Dedicated affordable housing providers Yes Very strong Strong HDB Government agencies/PR1MA
Informal-income mortgage support Limited applicability Conventional market Conventional market Structured system Particularly relevant

TEN LESSONS FOR NIGERIA
Lesson One: Stop Measuring Housing Policy Only by Units Built
Government should measure:
* affordability;
* household income-to-housing-cost ratios;
* mortgage accessibility;
* rental burden;
* land cost;
* infrastructure cost;
* financing cost;
* occupancy;
* beneficiary income.
A million houses that intended beneficiaries cannot afford do not represent successful affordable housing policy.

Lesson Two: Establish a National Affordable Housing Finance Framework
Nigeria needs a coordinated financing architecture connecting:
Federal Government
State Governments
FMBN
FHA
NMRC
commercial banks
mortgage banks
pension funds
insurance companies
developers
housing cooperatives
institutional investors
development finance institutions
and households.

Lesson Three: Create a Nigerian Affordable Housing Tax Credit
Drawing inspiration from the American model, qualifying investors in approved affordable rental housing could receive tax incentives linked to:
* number of units delivered;
* duration of affordability;
* household income served;
* rents charged;
* location;
* energy performance.
The incentive should be performance-based.
No affordable unit delivered should mean no affordable housing tax benefit.

15. CREATE AN AFFORDABLE HOUSING CAPITAL GRANT
Nigeria could adopt elements of the British model.
Instead of government constructing everything itself, qualifying projects could compete for capital grants.
The grant could be calculated according to affordability.
For illustration:
Market housing
No grant.
Workforce housing
Limited incentive.
Affordable housing
Moderate grant.
Social housing
Larger grant.
Housing for extremely vulnerable households
Highest subsidy.
The lower the household’s ability to pay, the larger the subsidy required.
This is more economically rational than pretending that every household can pay the same price.

16. CREATE A NATIONAL HOUSING CREDIT GUARANTEE CORPORATION
Nigeria should strongly consider a large-scale housing credit guarantee mechanism.
It should target:
* informal-sector workers;
* SMEs;
* self-employed professionals;
* young entrepreneurs;
* first-time homeowners;
* household

The post How Leading Countries Finance Affordable Housing appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has received briefings from the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Minister of Housing and Urban Development, Muttaqha Rabe Darma, on the management and disposal of houses seized by the anti-graft agency.

The meeting took place at the State House in Abuja on Tuesday, with the Presidency confirming that discussions focused on the handling of seized houses nationwide under principles of transparency and accountability.

The development places the management of recovered properties within a broader conversation about how assets recovered from corruption investigations should be handled once they come under government control.

FG Reviews Management of Seized Properties

The Presidency did not disclose details of the individual properties discussed or announce that any specific houses had been sold.

Instead, the meeting focused on the management and disposal of houses seized nationwide by the EFCC.

This distinction is important because recovered properties can remain under government control for a period before the necessary legal and administrative processes for disposal are completed.

The government has previously transferred recovered housing assets to the Ministry of Housing and Urban Development for management.

One notable example is a 753-unit housing estate in Abuja recovered from former Central Bank Governor Godwin Emefiele, which the EFCC handed over to the Housing Ministry in May 2025.

Transparency at the Centre of Disposal Process

The Presidency said the management and disposal process would be guided by transparency and accountability.

That is particularly important when dealing with properties recovered through financial-crime investigations because the assets represent public-interest recoveries.

A transparent disposal process would help establish how properties are valued, who can purchase them, how sales are conducted and how proceeds are accounted for.

It could also reduce concerns about recovered assets being transferred or sold below their market value.

Housing Assets Could Have Wider Impact

The involvement of the Housing Ministry also raises a broader question about how recovered residential properties can contribute to Nigeria’s housing needs.

Rather than viewing seized houses only as assets to be sold, government could potentially consider how some properties can support existing housing programmes, depending on their legal status and applicable government policy.

This could be particularly relevant in Abuja and other major cities where housing demand remains high and property prices continue to rise.

However, any decision to retain, convert, transfer or sell recovered properties would need to comply with the relevant legal and asset-disposal procedures.

Earlier Recovery of 753 Housing Units

The Federal Ministry of Housing and Urban Development previously took delivery of the 753-unit Abuja estate recovered by the EFCC from Emefiele. The handover was part of efforts to place recovered housing assets under the management of the housing authorities.

The estate provides an example of the potential scale of residential assets that can enter government control through asset-recovery processes.

Its eventual use or disposal therefore has implications beyond the recovery of proceeds from financial crimes.

The Bigger Housing Question

The latest meeting highlights an important issue for Nigeria’s housing sector: what should government do with residential properties recovered through corruption investigations?

Selling them could generate revenue for government, while retaining or integrating some properties into housing programmes could potentially expand the available housing stock.

Either approach requires clear valuation, transparent procedures and public accountability.

For the housing sector, the most important issue will be ensuring that recovered properties are not allowed to become another category of underutilised or abandoned government assets.

The Tinubu administration’s review therefore creates an opportunity to establish a clear framework for managing recovered housing assets, while ensuring that the public interest remains central to their eventual disposal or utilisation.

The post EFCC, Housing Ministry Brief Tinubu on Seized Houses appeared first on Housing TV Africa.