Ogun promotes flexible housing finance

The Ogun State Government is expanding its affordable housing programme as it seeks to help more residents become homeowners.

The government is using flexible financing, new housing projects and community regeneration to address some of the barriers to home ownership.

State Commissioner for Housing, Jamiu Omoniyi, disclosed this during an X community conversation on affordable housing, financing and opportunities in Ogun State. More than 2,500 people took part in the discussion.

Omoniyi said many prospective homeowners struggle with the high cost of construction. He also noted that many residents cannot afford to pay the full cost of a house at once.

Rent-to-Own scheme targets more residents

The commissioner highlighted the proposed Prince Court Estate at Kobape Phase IV as one of the projects offering a flexible route to home ownership.

He urged prospective buyers to consider the Rent-to-Own scheme for the estate. Gateway Mortgage Bank is partnering with the state government on the scheme.

The arrangement could help residents who cannot afford an outright property purchase. It allows the government to link housing delivery with a financing option for eligible beneficiaries.

Omoniyi said the state’s housing policy goes beyond building houses. He said the government also wants to create conditions that allow genuine beneficiaries to access and maintain their homes.

More housing projects across Ogun

The government has developed housing schemes in several parts of the state. These include Kobape Phases I–III, Kemta, Itanrin, Ikenne and Iperu.

According to Omoniyi, the projects target different groups of middle-income earners. The government has also expanded its intervention to existing communities through regeneration projects.

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These projects include areas such as Ibara GRA in Abeokuta and GRA Ijebu-Ode. The regeneration work aims to improve existing neighbourhoods while supporting economic activity in the built environment.

Housing projects create artisan jobs

Omoniyi also pointed to the impact of the ministry’s direct-labour approach.

He said more than 5,000 artisans had gained income opportunities through various housing project sites.

The approach allows local artisans to take part in housing construction. It also helps the ministry monitor projects more closely and reduce some construction costs.

The commissioner said the model also increases opportunities for local content providers within Ogun’s built environment.

Government subsidises land and infrastructure

Omoniyi described housing as a social service of government. He said the state subsidises land costs and provides major infrastructure within its estates.

These measures aim to reduce the financial burden on beneficiaries. Land, infrastructure and construction costs can significantly affect the final price of a home.

The government is also working to improve security of tenure for people who have subscribed to its housing schemes.

Omoniyi said the ministry was clearing a backlog of title documents. The process includes documentation for beneficiaries of estates delivered before 2019.

Ogun moves to protect genuine beneficiaries

The commissioner urged prospective homeowners to patronise the state’s housing schemes.

He said the ministry would continue to monitor developments after allocating houses and plots. It will also work to protect genuine beneficiaries and reduce speculation within government housing schemes.

The government said its wider objective is to turn affordable housing projects into secure and sustainable home ownership. It also wants housing construction to support economic activity across Ogun State.

Ogun’s approach shows why affordable housing requires more than the construction of new homes. Financing, land costs, infrastructure and secure property documentation all affect access to home ownership.

By combining housing development with flexible financing, community regeneration and title documentation, the state is seeking to address several parts of the housing challenge at the same time. The success of these efforts will depend on how effectively residents can access the schemes and sustain ownership over time.

The post Ogun Expands Affordable Housing Drive to Boost Home Ownership appeared first on Housing TV Africa.

The Federal Government has handed over completed housing units to beneficiaries under its Rent-to-Own Scheme in Abuja, reaffirming its commitment to expanding affordable homeownership and reducing Nigeria’s housing deficit through innovative housing finance initiatives. The homes were developed by Brains & Hammers Limited with funding from the Federal Mortgage Bank of Nigeria (FMBN) under the Renewed Hope Housing Programme.

Speaking during the symbolic presentation of keys, the Minister of Housing and Urban Development, Dr. Muttaqha Rabe Darma, said the initiative reflects President Bola Tinubu’s commitment to making decent and affordable housing accessible to more Nigerians. He described homeownership as a central pillar of the administration’s Renewed Hope Agenda and pledged that all approved beneficiaries under the Rent-to-Own Scheme would receive the keys to their homes before the end of the year.

The minister noted that the scheme provides an affordable pathway to homeownership, particularly for low- and middle-income earners who may not be able to afford the large upfront payments required to purchase homes outright. He added that the programme is designed to ease the burden of rising rents in major cities such as Abuja and Lagos while improving the welfare and living standards of Nigerians.

Managing Director and Chief Executive Officer of FMBN, Shehu Usman Osidi, explained that the delivery of the housing units, known as Bungalow City, experienced initial allocation challenges after part of the estate was assigned to security agencies. He said the bank established a joint technical committee with Brains & Hammers Limited to resolve the issues, ensuring that every profiled beneficiary received a home.

Osidi reaffirmed FMBN’s commitment to supporting the Federal Government’s affordable housing agenda through accessible mortgage financing and strategic partnerships with private developers. He said the bank would continue to expand opportunities for Nigerians to own homes through flexible financing models capable of addressing the country’s housing deficit.

Speaking on behalf of the beneficiaries, Sanusi Seidu Dantsoho expressed appreciation to the Federal Government and FMBN for providing many Nigerians with the opportunity to become homeowners. He pledged that residents would work together to maintain a peaceful, orderly, and well-managed estate while encouraging the government to sustain similar affordable housing programmes across the country.

The post FG Hands Over Rent-to-Own Homes to Beneficiaries in Abuja 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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The initiative was confirmed by Mufkad Estate’s Project Manager, Suberu Nusa, during a press briefing on Saturday. He explained that the scheme is being executed in collaboration with the state’s Ministry of Housing and Urban Development, following the directive of Governor Usman Ododo.

Nusa stated that the project is designed to fast-track the provision of affordable homes tailored to the needs of public sector workers. “We had a meeting with the Honourable Commissioner for Housing and Urban Development, as instructed by Governor Usman Ododo, to accelerate the implementation of an affordable housing model,” he said.

He further noted that the governor has mandated the adoption of a rent-to-own approach in partnership with the Federal Mortgage Bank of Nigeria (FMBN), allowing civil servants to take possession of homes and gradually pay for them over an extended period.

“This project is a response to the growing housing challenges in the state, especially in Lokoja, where rental costs continue to rise. The governor wants every civil servant to have access to decent and affordable housing,” Nusa added.

Under the proposed arrangement, the housing units will be offered through a flexible rent-to-own scheme backed by FMBN. Payment plans will span between 15 and 20 years, with interest rates kept in the single digits to ensure long-term affordability.

The post Kogi State Unveils Rent-to-Own Housing Initiative for Civil Servants appeared first on Housing TV Africa.