FG Commends NMDPRA Housing Scheme as 430 Workers Receive Home Allocations

The Federal Government has commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for supporting access to affordable housing for its workers through the Renewed Hope Cities and Estates Programme.

The Minister of Housing and Urban Development, Mr Muttaqha Darma, gave the commendation during the formal presentation of allocation letters to eligible NMDPRA staff under the housing programme.

Darma described the initiative as significant against the background of Nigeria’s housing deficit and the difficulties many Nigerians face in accessing decent homes.

He said the Federal Government remained committed to expanding access to affordable housing through partnerships with institutions and other stakeholders in the housing sector.

According to the minister, Nigeria requires more than 16 million housing units to address its housing deficit and provide accommodation for Nigerians without adequate housing.

“Providing housing to Nigerians remains a major responsibility. Providing houses to 110 million unhoused Nigerians is a task, a very big one,” Darma said.

The minister said the NMDPRA initiative should not be assessed solely by the number of homes being allocated to its workers.

“I consider the NMDPRA initiative beyond the number of houses being allocated.

“Forget about the mention of 450 housing units. No, I am not looking at it from that angle. I am looking at it from delivery of housing to Nigerians,” he said.

Darma stressed that every opportunity to deliver housing to Nigerians was important, regardless of the number of people who directly benefited from a particular project.

He also highlighted the rising cost of construction and building materials, which has made homeownership increasingly difficult for many Nigerians.

430 NMDPRA workers receive allocations

The Chief Executive of NMDPRA, Malam Rabiu Umar, said about 430 members of staff in Abuja, Kano and Lagos were receiving allocation letters under the Renewed Hope Cities and Estates Programme.

Umar described the development as an example of how government policies and institutional partnerships could translate into tangible benefits for workers.

He said staff welfare was an important part of institutional performance, noting that workers who have greater peace of mind and confidence in their personal future are better positioned to contribute effectively to their organisations.

The NMDPRA chief executive commended the Authority Staff Cooperative Society, the Renewed Hope Access to Housing Committee and other partners involved in facilitating the initiative.

The partners include the Federal Mortgage Bank of Nigeria (FMBN), Family Homes Funds Limited, City Code Mortgage Bank Limited, Renewed Hope SPV, Key Shelter Limited and participating developers.

FMBN processes N8.3bn in mortgage applications

The Managing Director and Chief Executive of FMBN, Mr Shehu Osidi, said NMDPRA staff had subscribed to 430 housing units in Karsana, Abuja, and Janguza, Kano.

He disclosed that 197 National Housing Fund mortgage applications valued at approximately N8.3 billion were being packaged for submission to FMBN by City Code Mortgage Bank.

Osidi said the mortgage applications formed part of the financing structure designed to help eligible workers access homes through sustainable mortgage arrangements.

FMBN has also provided a N100 billion off-take guarantee for the Renewed Hope Cities and Estates Programme, beginning with the Karsana project, alongside N19.9 billion in direct funding.

The financing and guarantee arrangements are intended to give developers greater certainty, support construction financing and enable eligible workers to access completed housing through mortgage financing.

Osidi said FMBN would continue working with developers, primary mortgage banks, cooperative societies, employers and other financial-sector partners to increase the supply of affordable homes and strengthen access to mortgage finance.

He also disclosed that FMBN would soon introduce a Rent-to-Own product for eligible civil servants.

The bank has already launched a Diaspora Mortgage Loan and has signed a memorandum of understanding for a N10 billion housing loan scheme for Federal Civil Servants.

More than 1,000 NMDPRA staff applied

The President of the Authority Staff Cooperative Society, Mr Abdullahi Auta, said more than 1,000 NMDPRA workers had applied for the housing initiative.

However, about 430 staff had so far been accommodated under the current allocation exercise.

Auta appealed for continued support to enable additional workers who are still awaiting allocation to benefit from the scheme.

Details of housing units across Abuja, Kano and Lagos

The Chief Commercial Officer of Renewed Hope SPV Ltd., Dare Makinde, said the first phase of the project in Abuja consists of 365 housing units.

The Abuja development includes two-bedroom and three-bedroom flats, as well as three-bedroom terrace duplexes with boys’ quarters.

In Kano, the project includes 14 units comprising three-bedroom and four-bedroom bungalows, fully detached houses and three-bedroom terrace duplexes with boys’ quarters.

Lagos has 56 units comprising two-bedroom and three-bedroom apartments with boys’ quarters.

Makinde said a second phase of the project would be delivered next year to accommodate some applicants who could not benefit from the first phase.

He added that additional housing projects were planned for Asaba, Enugu and Ibadan.

Makinde also called on other public and private organisations to support housing schemes for their workers, particularly as rising rents continue to make homeownership and decent accommodation more difficult for many employees.

Government expands housing support for workers

The NMDPRA housing initiative forms part of a wider push by the Federal Government to expand access to housing through institutional partnerships and mortgage financing.

The government has also been implementing other housing projects targeted at workers and civil servants.

In August, the Federal Mortgage Bank of Nigeria joined the Federal Ministry of Housing and Urban Development and the Office of the Head of the Civil Service of the Federation for the groundbreaking of a 250-unit Renewed Hope Civil Service Estate at Dukpa, Gwagwalada, Abuja.

The estate comprises two-bedroom and three-bedroom bungalows and is being developed to provide decent and affordable housing for federal civil servants.

The Federal Government also approved a N10 billion housing loan scheme for federal civil servants earlier in 2026, with the Federal Housing Loans Board and FMBN entering into an agreement to facilitate access to affordable housing loans.

For the NMDPRA programme, the combination of housing allocations, mortgage financing, cooperative participation and government-backed project support is intended to provide workers with a structured route to homeownership.

The first phase of allocations covers projects in Abuja, Kano and Lagos, while additional developments are planned for other cities.

The initiative is expected to provide further opportunities for NMDPRA workers who are yet to receive allocations as subsequent phases of the housing programme are delivered.

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Qatar Charity Invests $10m in Abuja Housing Development

Qatar Charity is expanding its operations in Nigeria with an enlarged field office in Abuja and an ongoing $10 million integrated housing development in Gaduwa, Federal Capital Territory.

The project combines residential accommodation with healthcare and education facilities, creating a development that brings housing and essential social infrastructure together.

The development was highlighted during a meeting between Nigeria’s Ambassador to Qatar, Prof. Mahmood Yakubu, and senior officials of Qatar Charity at the organisation’s headquarters in Doha. Discussions focused on expanding Qatar Charity’s long-term development interventions in Nigeria, with emphasis on projects aimed at addressing multiple community needs rather than providing short-term humanitarian assistance.

$10m Gaduwa Project Combines Housing With Social Infrastructure

At the centre of Qatar Charity’s expanded activities is the Gaduwa housing development, valued at $10 million.

The project will combine residential units with a health clinic and a school, creating an integrated community development model where housing is delivered alongside essential social infrastructure.

The approach reflects Qatar Charity’s broader social housing model, which places housing alongside basic services and community facilities. The organisation says its social housing interventions are focused on providing safe accommodation and basic services to vulnerable groups.

For the Abuja development, the combination of residential accommodation, healthcare and education is intended to address several household needs within the same community rather than treating housing as a standalone intervention.

Abuja Operations to Support Wider Development Activities

The expansion of Qatar Charity’s field operations in Abuja is expected to strengthen its ability to coordinate development programmes across Nigeria.

Discussions with the Nigerian Ambassador also covered diplomatic clearances and the inter-agency coordination required to support the organisation’s activities.

Yakubu said the Nigerian Embassy would support Qatar Charity’s operations and help facilitate coordination with relevant Nigerian authorities.

He also indicated that the integrated development model could potentially be extended to other parts of Nigeria, subject to coordination with government agencies and other stakeholders.

Housing Delivery Linked to Healthcare and Education

The Gaduwa project highlights an approach to housing development that treats residential accommodation as part of a wider community infrastructure system.

Access to housing can also be affected by the availability and proximity of schools, healthcare facilities, transportation and other essential services. Bringing such facilities within or around residential developments can reduce the need for residents to travel long distances to access basic services.

Qatar Charity has previously implemented similar integrated community development projects in Nigeria, with reported projects combining residential units with schools, medical facilities, commercial spaces and other community infrastructure.

The model therefore extends beyond constructing individual housing units to creating communities with supporting facilities.

International Partnerships Add to Housing Delivery

The Abuja development also highlights the role international humanitarian and development organisations can play in Nigeria’s housing sector.

Government remains a major participant in housing policy and infrastructure provision, while private developers, financial institutions, non-governmental organisations and international development organisations provide additional channels for housing delivery.

Such partnerships can be particularly relevant to vulnerable households and communities where conventional market-based housing may not adequately address affordability or access to essential services.

The project also adds a development dimension to Nigeria-Qatar relations, with cooperation extending beyond diplomatic engagement to areas including housing, healthcare, education and community welfare.

Implications for Abuja’s Housing Market

The $10 million investment adds to development activity in Abuja, where housing demand continues to be influenced by population growth, employment, public-sector activity and infrastructure expansion.

The project’s integrated structure also has implications for urban planning. Housing developments that include schools, healthcare facilities and other supporting infrastructure can help reduce pressure on surrounding communities and contribute to more self-contained residential areas.

For developers and policymakers, the project demonstrates the potential value of linking housing delivery with social infrastructure from the planning stage rather than providing residential units without corresponding community facilities.

However, the wider impact of the development will depend on its implementation, occupancy, long-term management and the extent to which the integrated model can be replicated in other locations.

Qatar Charity’s Wider Housing Approach

Qatar Charity describes social housing as an important part of its international development work, particularly for vulnerable households and communities lacking adequate housing and basic services.

Its interventions include the construction, maintenance and renovation of housing, as well as sanitation and sustainable energy infrastructure.

The organisation has also undertaken previous projects in Nigeria that combine housing with other community facilities.

In 2021, for instance, Qatar Charity began a housing estate project in Abuja’s Wassa District for widows and orphans. The project included plans for residential units, a school, vocational training centre, shops and recreational facilities.

The Gaduwa development therefore forms part of a broader pattern of integrated community projects rather than being an isolated housing intervention.

Outlook

Qatar Charity’s $10 million Gaduwa housing development provides another example of an integrated approach to housing delivery in Abuja, combining residential accommodation with healthcare and education infrastructure.

The expansion of the organisation’s Abuja operations could strengthen its capacity to undertake additional development programmes across Nigeria, while the Gaduwa project provides an example of how housing can be planned alongside essential community services.

For Nigeria’s housing sector, the development highlights the connection between housing investment, infrastructure and social services, particularly for projects targeting vulnerable communities.

The extent to which the Gaduwa model can be replicated in other locations will depend on factors including financing, land availability, government coordination and the capacity to maintain the supporting infrastructure over the long term.

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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.

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The President of the International Real Estate Federation (FIABCI), Nigeria, Ayodeji Odeleye, has pledged to position Nigeria as a major destination for international real estate investment.

Odeleye spoke in Lagos during his induction as president of the Nigerian chapter. Sixteen new members were also inducted at the event.

He said Nigeria has strong potential to attract foreign investment through real estate. He added that the country could become a major player in Africa’s property market.

FIABCI World Congress

Odeleye pointed to the successful hosting of FIABCI’s 75th World Congress in Lagos as proof of Nigeria’s potential.

The event was the first FIABCI World Congress to be held in Africa. Odeleye said the congress showed that Nigeria could host major global real estate events.

He said the event also gave Nigerian professionals greater visibility within the international property industry.

According to him, his administration will focus on turning FIABCI’s global network into business and investment opportunities for members.

He also wants Nigerian professionals to gain more access to international knowledge and partnerships.

Odeleye said Nigeria should have a stronger voice in global discussions about the future of African real estate.

Focus on Young Professionals

The new FIABCI Nigeria president also announced plans to expand the chapter’s membership.

He said the association would introduce a mentorship programme for younger professionals. The programme will focus on skills, training and international exposure.

He said these efforts would help members compete for business opportunities both in Nigeria and abroad.

Odeleye also promised to strengthen the chapter’s institutional structure. He said his administration would promote transparency, unity and greater participation among members.

Wider Participation

The FIABCI Nigeria president said the association should not be seen as an organisation based in only one city.

He called for members in Abuja, Port Harcourt and other parts of the country to take part in the chapter’s activities.

A wider membership base could help the association connect more professionals across Nigeria’s property market. It could also improve the sharing of knowledge and business opportunities within the sector.

Building Communities, Not Just Estates

Odeleye also called for a broader approach to property development.

He said developers should look beyond building estates and focus on creating functional communities.

This approach requires attention to roads, water, power, transport and other basic infrastructure. It also requires closer cooperation between developers and government agencies.

For Nigeria’s housing sector, this is important because housing development is closely linked to infrastructure and urban planning. New homes cannot function as complete communities without access to basic services and supporting infrastructure.

Stronger Government Engagement

Odeleye said FIABCI members have access to international professionals and global industry practices.

The association regularly engages with international colleagues through webinars and other professional activities.

He said the knowledge gained from these engagements could be shared with government officials. This could support better decisions on housing, infrastructure and urban development.

The Federal Ministry of Housing and Urban Development has responsibilities covering housing and urban development in Nigeria. Better cooperation between government and property professionals can support more informed approaches to development.

Opatola Commended

Odeleye also praised the immediate past president, Akin Opatola, for his leadership of the Nigerian chapter.

He credited Opatola with promoting an inclusive approach during his tenure. His administration also led the chapter through the 75th FIABCI World Congress in Lagos.

Opatola also encouraged collaboration between FIABCI Nigeria and relevant government agencies.

Real Estate and Nigeria’s Investment Future

Real estate remains important to Nigeria’s housing, construction and urban development needs. The sector also provides opportunities for domestic and international investors.

Odeleye’s focus on international partnerships could help connect Nigerian professionals with investors, developers and property experts from other markets.

For Nigeria to attract more investment, however, real estate growth must go alongside strong infrastructure, effective planning and better cooperation between the public and private sectors.

The FIABCI Nigeria leadership is now seeking to use its international network to expand business opportunities, improve professional development and strengthen Nigeria’s position in the global real estate industry.

The post Real Estate Growth Can Boost FDI and Position Nigeria as Africa Hub appeared first on Housing TV Africa.

Lagos Deputy Governor Obafemi Hamzat has advised residents struggling with rising accommodation costs to consider sharing rent or living with their parents, drawing fresh attention to the growing pressure on household housing budgets across the state.

Hamzat’s remarks come against the backdrop of strong demand for residential property in Lagos, where population growth, limited affordable housing supply and high development costs continue to shape the rental market. The comments have also renewed discussion about the gap between household incomes and the cost of securing decent accommodation.

Rising Costs Continue to Affect Lagos Households

Housing affordability remains a major concern for many residents. The cost of accommodation is influenced not only by rent but also by land prices, construction materials, financing, infrastructure and the wider cost of property development.

For tenants, the financial burden can extend well beyond annual rent. Agency and legal fees, service charges, transportation and other household expenses can significantly increase the amount residents need to spend to secure and maintain accommodation.

Against this backdrop, shared housing can provide short-term relief by allowing occupants to divide rent and other household expenses. The arrangement may be particularly relevant to young workers, students and people at the early stages of their careers who may find it difficult to shoulder the full cost of a housing unit.

However, sharing accommodation does not address the underlying shortage of affordable homes. It is primarily a household response to high housing costs rather than a substitute for expanding the supply of decent housing.

Housing Affordability Extends Beyond Rent

The affordability challenge in Lagos is also closely linked to location. A property with lower rent may not necessarily be cheaper to live in if it is located far from employment centres or lacks efficient transport connections.

Residents who move to less expensive areas on the outskirts of the city may face longer commutes and higher transportation expenses. This can reduce, or in some cases eliminate, the financial savings achieved through lower rent.

Access to infrastructure also matters. Electricity, water, roads and other essential services can influence the actual cost of living in a residential area. For policymakers and developers, this means housing affordability must be considered alongside transportation, infrastructure and access to jobs.

Construction Costs Limit Affordable Housing Supply

The cost of developing new homes remains another major obstacle. Developers contend with expenses associated with land, cement, steel, labour, transportation, financing and infrastructure.

When these costs rise, developers may need to charge higher prices or rents to make projects financially viable. This creates a challenge for the delivery of housing targeted at low- and middle-income households.

Measures that improve access to serviced land, reduce infrastructure costs, support local production of construction materials and expand affordable housing finance could help lower the cost of delivering new homes.

Greater Private Sector Participation Needed

Government housing programmes can increase supply, but the scale of demand in Lagos means private developers and institutional investors will remain important to any sustained response to the affordability challenge.

Public-private partnerships could help mobilise additional capital for affordable and middle-income housing. Government support through land provision, infrastructure, streamlined approvals and appropriate financing incentives could improve the viability of projects aimed at households with limited purchasing power.

The location of affordable housing will also remain important. Developments that are inexpensive but poorly connected to transport networks and employment centres may not provide lasting relief to residents.

Housing and Transport Must Be Planned Together

Lagos’ housing challenge is closely connected to its transportation system. As housing costs increase in established areas, households may move farther from major employment and commercial centres in search of cheaper accommodation.

The resulting longer journeys can increase transport costs, congestion and commuting times. Better coordination between housing development, land-use planning and public transportation could therefore improve the overall affordability of living in the state.

Long-Term Solution Requires More Affordable Homes

While shared accommodation and living with family can help households manage immediate financial pressures, they cannot replace a sustained increase in housing supply.

Lagos will need housing across different income categories, supported by infrastructure, efficient planning and access to transportation. Policies that reduce development costs and encourage investment in affordable housing could help narrow the gap between available homes and what residents can realistically afford.

For the real estate sector, the affordability challenge also signals continuing demand for housing that is aligned with household incomes. The wider significance of Hamzat’s remarks is that household coping strategies can provide temporary relief, but lasting improvement will depend on expanding affordable housing supply and addressing the costs associated with developing and living in Lagos.

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The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has urged property professionals to improve their understanding of fiscal and economic policies.

The institution warned that taxes, inflation, interest rates and regulations are having a growing impact on real estate values and investment decisions across Nigeria.

The Chairman of the National Mandatory Continuing Professional Development (MCPD) Committee of NIESV, ESV (Sir) Charles Oghenero Ebiai, FNIVS, RWA, gave the warning at the 2026 MCPD Seminar of the Kaduna State Branch.

The seminar focused on “Fiscal Intelligence and Risk Integration: The Essential Frontier in Valuation Practice for Nigeria’s Institutional Real Estate.”

It examined the growing demands on valuation professionals amid economic and fiscal uncertainty.

Fiscal policy affects property values

Ebiai said traditional valuation methods were no longer enough to assess real estate properly.

He said property values were now affected by several factors outside the physical features of an asset. These include taxes, government spending, infrastructure investment, land policies and development charges.

Property-related levies can also affect the cost of developing and owning real estate.

These factors matter to Nigeria’s housing market. Higher development costs can raise the price of new homes. Higher interest rates can also make property finance more expensive for developers and buyers.

Ebiai said taxation could affect the property market in several ways. It can influence development costs, rental values, investor behaviour, demand and expected returns.

He therefore urged estate surveyors and valuers to study economic indicators and government policies more closely.

Valuers urged to assess risk

According to Ebiai, the role of a modern valuer should go beyond putting a price on a property.

Professionals should also explain what drives a property’s value. They should identify risks that could reduce its performance.

They should also consider how an asset could perform under different economic conditions.

Ebiai said fiscal and regulatory changes should form part of this assessment.

He added that institutional investors were increasingly focused on risk-adjusted returns. This means investors are looking at both potential profits and the risks attached to those returns.

The risks facing property assets can come from several sources. They include economic shocks, regulatory changes, climate events, technology, tenant concentration, limited liquidity and market volatility.

Ebiai said risk should therefore be part of every serious valuation discussion.

Technology changing valuation practice

The NIESV official also called on professionals to embrace new technology.

He identified artificial intelligence, big data, geographic information systems and automated valuation models as useful tools for modern practice.

Digital property platforms, remote sensing and blockchain applications could also support valuation work.

Ebiai, however, said technology would not remove the need for professional judgement.

READ ALSO :Nigeria Sitting On Over $300bn In Dead Capital, NIESV Warns

He said machines could process large amounts of data. Professionals would still need to understand the market, test assumptions and assess risks.

He identified professional judgement, ethics, local market knowledge and sound valuation methods as key strengths for practitioners.

Better data needed for investment

Ebiai also called for stronger professional education and research in the valuation sector.

He urged practitioners to improve access to reliable property data. He also called for wider use of technology and stronger ethical standards.

According to him, these measures would help improve investor confidence in Nigeria’s property market.

He said professional valuation advice could play an important role in attracting more domestic and international investment.

Ebiai also urged estate surveyors and valuers to view continuous professional development as more than a regulatory requirement.

He said ongoing training should help professionals gain new skills and improve the quality of advice they provide.

Kaduna NIESV seeks stronger professional standards

The Chairman of the NIESV Kaduna State Branch, Ishaq Ayodele Bello, said economic uncertainty was changing the role of estate surveyors and valuers.

He said practitioners must now combine technical valuation skills with fiscal analysis, market intelligence and economic forecasting.

Bello said institutional investors needed professionals who could understand both opportunities and risks.

He also stressed the importance of professional standards in attracting investment into Nigeria’s real estate sector.

According to him, investors need confidence and transparency. Institutions also need consistent and reliable information.

Bello urged Nigerian practitioners to measure their work against international best practices. He also stressed the need to remain familiar with local market conditions.

Implications for Nigeria’s housing market

The discussions at the seminar highlight the growing link between fiscal policy and real estate performance.

Taxes, interest rates, development charges and infrastructure decisions can affect the cost of housing and property investment.

For developers, better understanding of these risks can support stronger investment decisions. For lenders and investors, reliable valuation advice can provide a clearer view of potential returns and risks.

The 2026 MCPD seminar brought together NIESV officials, estate surveyors and valuers, resource persons, business stakeholders and other professionals.

The event provided a platform to examine taxation, fiscal policy, technology, investment risk and other issues affecting institutional real estate in Nigeria.

As the property market faces changing economic conditions, NIESV’s message is clear: valuation practice must increasingly combine accurate property assessment with economic analysis, risk management and professional judgement.

The post Tax Burden, Fiscal Policy Threaten Nigeria Real Estate Values appeared first on Housing TV Africa.

Nigeria’s housing affordability crisis is deepening as rising rents continue to outpace the incomes of millions of households, leaving many residents struggling to secure decent accommodation.

The growing pressure is being driven by a combination of low household incomes, rising construction costs, inflation and limited access to affordable housing finance.

For many Nigerians, housing now consumes a disproportionate share of household earnings, leaving less money available for food, transportation, education and other essential expenses.

Rising Rents Put Pressure on Households

Rental costs have increased sharply across major Nigerian cities as landlords and developers face higher costs for building materials, labour, energy, transportation and land.

The situation is particularly difficult for low- and middle-income earners who have seen their incomes grow more slowly than housing costs.

Recent reporting on Abuja’s rental market, for example, found that rents in several districts have increased by between 40 and 120 per cent over the past two years. In Lokogoma, a two-bedroom apartment that previously rented for about ₦1.2 million was reported to cost as much as ₦2.5 million annually.

Additional expenses such as agency fees, legal charges, caution deposits and service charges can push the actual cost of securing accommodation even higher.

Housing Costs Outpace Income

The problem is not simply that rents are increasing. It is that household incomes are failing to keep pace.

When a large proportion of monthly income is committed to rent, households have limited capacity to save, invest or respond to unexpected expenses.

The situation can also force residents to move farther away from employment centres in search of cheaper accommodation. But cheaper rent often comes with higher transportation costs and longer commuting times.

This creates a cycle in which households may save on rent while spending more on transportation.

Construction Costs Add to the Problem

Developers and landlords have attributed much of the increase in rents to rising construction costs.

Cement, reinforcement, paints, electrical materials, diesel and transportation have all become more expensive, increasing the amount required to build and maintain residential properties.

In Abuja, for example, cement prices have risen substantially from levels recorded two years ago, adding pressure to development costs.

Recent scrutiny of Nigeria’s cement market by the Federal Competition and Consumer Protection Commission (FCCPC) has also raised questions about why cement prices remain high despite Nigeria’s significant limestone resources and installed production capacity.

The Affordability Problem Goes Beyond Rent

Nigeria’s housing challenge cannot be solved simply by asking landlords to reduce rents.

The underlying problem includes the cost of land, expensive construction materials, inadequate infrastructure, limited housing supply and weak access to long-term mortgage financing.

These factors all feed into the final price paid by households.

Affordable housing therefore requires intervention across the entire housing value chain, from land acquisition and infrastructure to construction finance and mortgages.

More Housing Is Not Enough

Increasing the number of housing units is important, but supply alone does not automatically create affordability.

If newly constructed homes are priced beyond the reach of ordinary workers, they may add to the country’s housing stock without significantly improving access for the people most affected by the crisis.

This is why housing policy needs to distinguish between housing delivery and affordable housing delivery.

Government programmes, private developers and housing-finance institutions will need to pay greater attention to the income levels of the households they are trying to serve.

A Growing Urban Challenge

The affordability crisis is also changing the way Nigerians live and work.

Residents are increasingly moving toward satellite communities where accommodation may initially be cheaper. However, the resulting increase in commuting distances can create additional financial and social pressure.

Recent reporting on Abuja found that residents are increasingly moving toward areas such as Gwagwalada, Kubwa and Mararaba as rents in central and established districts rise.

The trend highlights the need for housing development to be coordinated with transportation, employment centres and infrastructure.

What Needs to Change?

Addressing Nigeria’s housing affordability crisis requires more than isolated housing projects.

Government can improve access to serviced land, reduce unnecessary development costs, strengthen housing finance and support large-scale affordable housing programmes.

At the same time, developers need access to cheaper long-term capital that can reduce the cost of delivering homes.

Housing-finance institutions also have a role to play in expanding mortgages to households that currently cannot afford conventional home loans.

Ultimately, the success of Nigeria’s housing policy should not only be measured by the number of houses constructed.

The more important question is whether ordinary Nigerian households can afford to live in them.

The post Rising Rents Push More Nigerians Beyond Reach of Affordable Housing appeared first on Housing TV Africa.

Veritasi Homes & Properties Plc has completed a ₦50 billion non-interest commercial paper programme, giving the real estate developer another avenue to raise short-term funding from Nigeria’s capital market.

The programme was formally executed in Lagos on August 6, 2026, following the completion of the required regulatory and programme processes. It provides Veritasi with a structured platform for raising funds through eligible commercial-paper issuances.

Expanding access to capital

Commercial paper allows companies to raise short-term funds from investors without issuing equity. For real estate developers, the instrument can provide an alternative to conventional bank borrowing for working capital and other approved corporate needs.

The new ₦50 billion programme represents a significant expansion from Veritasi’s previous ₦20 billion Commercial Paper Programme.

Under the earlier programme, the company raised up to ₦15 billion and subsequently redeemed its matured obligations. Veritasi also registered another ₦20 billion programme in 2025, under which it issued Series 1 and Series 2 commercial papers.

Previous obligations redeemed

Veritasi has also demonstrated recent activity in the commercial-paper market.

According to the report, the company redeemed approximately ₦6.13 billion owed to investors on April 17, 2026, under an earlier issuance.

Funds raised through previous programmes supported developments including Camberwall Advantage Series and Tinuola Towers.

Funding pressure remains a challenge for developers

The new financing programme comes at a time when Nigerian property developers are dealing with high construction costs and expensive conventional financing.

The rising cost of building materials, labour, land and infrastructure has increased the amount of capital required to deliver housing projects.

For developers, access to alternative sources of funding can therefore help reduce dependence on bank lending and provide additional flexibility for managing project-related expenses.

However, commercial paper is a short-term financing instrument, meaning companies must carefully manage their cash flows and repayment obligations when individual issuances mature.

₦50bn programme does not mean ₦50bn raised

An important distinction should be made between the ₦50 billion programme size and the amount of money actually raised.

The programme establishes a maximum framework of ₦50 billion under which eligible commercial-paper issuances can be made. It does not mean Veritasi has received ₦50 billion in one transaction.

The actual amount raised will depend on the individual issuances conducted under the programme.

This distinction matters when assessing the potential impact on housing supply. The programme could provide significant additional funding capacity, but its eventual contribution to construction will depend on how much the company raises and how the proceeds are deployed.

Potential impact on housing supply

Greater access to capital could help Veritasi finance construction activities, acquire development inputs and maintain delivery across its housing projects.

The wider significance for Nigeria’s housing market is whether capital-market financing can help private developers overcome some of the funding constraints that limit housing supply.

But financing alone will not solve Nigeria’s affordability problem.

High land and construction costs, infrastructure requirements and limited access to affordable mortgages continue to influence the final price of homes.

A growing role for capital-market financing

Veritasi’s latest programme also highlights the growing role of Nigeria’s capital market in financing real estate development.

Diversifying funding sources can give developers alternatives to traditional bank loans, particularly when interest rates make conventional borrowing expensive.

For the housing sector, the bigger question is whether these financing mechanisms can translate into more homes being delivered at prices that ordinary Nigerians can afford.

Veritasi’s ₦50 billion programme therefore represents an expansion of its potential financing capacity. Its real impact will ultimately be measured by the capital raised under the programme and the housing and other developments that follow.

The post Veritasi Homes Expands Funding Access With ₦50bn Commercial Paper Programme 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.

The Federal Government has officially transferred 116 completed residential properties under the National Housing Programme to the Benue State Government, expanding ongoing efforts to provide accessible shelter solutions across sub-national regions. This newly transferred estate is designated to benefit local public servants and lower-income families through targeted state-managed welfare schemes. Strategically designed to alleviate financial pressures on workers, the estate will operate primarily through alternative financing models, including a structured rent-to-own initiative that removes the burden of steep upfront capital.

During the official handover ceremony at the Government House in Makurdi, representatives from the Federal Ministry of Housing and Urban Development highlighted the project as a critical milestone in reducing the country’s residential deficit under the current Renewed Hope Agenda. The National Housing Programme serves as a core framework to increase the volume of quality architectural assets nationwide while driving local economic stimulation. The construction phase actively utilized indigenous building components, creating multiple downstream employment opportunities for local tradespeople, suppliers, and building contractors.

The Benue State Government secured the estate as a direct investment into public sector welfare, naming the facility in memory of the late former Head of Service, Dr. Moses Agbogbo Odeh. State administrators confirmed that the impending allocation process will maintain strict transparency, offering beneficiaries a choice between immediate direct purchases or deferred payment tracks. Housing analysts note that this inter-governmental property transfer sets a progressive precedent, showing how collaborative asset management between federal and state entities can fast-track regional urbanization, improve standard of living baselines, and guarantee high occupancy rates for completed infrastructure.

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