• Minister says 100,000 units to be completed before end of Tinubu’s tenure
Emmanuel Addeh in Abuja
The federal government yesterday handed over 129 housing units to beneficiaries of the Federal Mortgage Bank of Nigeria (FMBN) Rent-to-Own housing programme and promised to deliver the remaining 122 units before the end of 2026.
The Minister of Housing and Urban Development, Muttaqha Darma, gave the assurance at the handover ceremony held at the Nasarawa Technology Village, Karu, Nasarawa State.
Darma said the 129 beneficiaries had been unable to take possession of their homes after part of the Brains & Hammers Bungalow City, where they were originally allocated houses, was subsequently allocated to security agencies.
“Today marks the culmination of a difficult chapter into a new beginning for 129 Nigerian families. The Federal Mortgage Bank of Nigeria is now delivering the keys to 129 of these beneficiaries. I assure the 122 others that before the end of this year, you will also have your keys,” the minister said.
He said the delivery fulfilled a commitment by the government to resolve the housing challenge faced by the affected beneficiaries, noting that the 129 units were delivered before the end of August as earlier promised.
The minister said the development was consistent with the housing component of President Bola Tinubu’s Renewed Hope Agenda, stressing that the government’s housing policy was focused on improving the welfare of Nigerians and restoring confidence in public institutions.
“Our housing agenda is not simply about structures. It is about people and about restoring confidence in the public institutions under the present government,” Darma said.
He assured Nigerians that more houses would be delivered before the end of the year through the Federal Housing Authority (FHA), FMBN and projects being constructed directly by the Ministry of Housing and Urban Development.
He reiterated the federal government’s commitment to delivering 100,000 housing units promised by the President before the end of his tenure.
“I will assure Nigerians that 100,000 housing units, as promised by Mr. President, will be delivered before the end of this tenure,” he said.
In his remarks, the Managing Director and Chief Executive Officer of FMBN, Shehu Osidi, said the 129 units represented the first batch of 251 housing units expected to be delivered to FMBN Rent-to-Own beneficiaries who could not take possession of their allocated homes under the Bungalow City project.
Osidi said the units were funded by FMBN and developed by Modern Shelter Systems and Services Limited at Nasarawa Technology Village. He described the handover as a demonstration of FMBN’s commitment to its customers, institutional responsibility and effective stakeholder management. “Most importantly, it is a promise kept,” Osidi said.
He said the development also demonstrated that FMBN would not abandon National Housing Fund (NHF) contributors who had remained committed to the scheme.
“The event we are having today sends a clear message: FMBN will not abandon any NHF contributor who has demonstrated loyalty and commitment to the National Housing Fund and to the Bank,” he said.
Giving the background to the development, Osidi said FMBN funded the Bungalow City project in 2019 to provide houses to NHF contributors. He said the subsequent allocation of part of the estate to security agencies meant that some beneficiaries could no longer take possession of their allocated houses.
According to him, FMBN subsequently worked with the Federal Ministry of Housing and Urban Development, the National Assembly and other stakeholders to find a solution for the affected beneficiaries.
He said the process included reconciliation and verification exercises, technical assessments, engagements with the developer and inspections of alternative housing sites.
“The objective throughout this process has been simple: to protect the interest of the beneficiaries and ensure that every legitimate beneficiary receives the value of what he or she has worked and contributed for,” Osidi said.
He said an agreement was reached to accommodate 400 of the 651 profiled off-takers at Bungalow City, while efforts continued to resolve the situation of the remaining beneficiaries.
Osidi said the delivery of the 129 units at Nasarawa Technology Village represented the first major outcome of those efforts.
“To the beneficiaries, I say: Congratulations. Your patience has been tested, but your confidence in the process has not been misplaced. Now, you have taken a significant step towards homeownership,” he said.
The FMBN managing director assured that the remaining 122 units would be completed and ready for allocation before the end of 2026, in line with the directive of the housing minister.
He disclosed that FMBN expected to return to the site in December to commission the additional 122 housing units alongside another 190 housing units being funded by the bank.
Osidi said the development would further position Nasarawa Technology Village as an important component of the Renewed Hope Housing Agenda. He said FMBN was repositioning its operations around the principle that NHF contributors must remain at the centre of its activities.
“At FMBN, we are repositioning the Bank around a very clear principle: the contributor must remain at the centre of everything we do,” he said.
He added that the bank’s responsibility was to ensure that contributions entrusted to it were deployed responsibly, transparently and effectively towards the ultimate objective of homeownership.
Also speaking, the Managing Director of Modern Shelter Systems and Services Limited, Abdulmalik Mahdi, said the project was benefiting from increased government attention to housing, as well as improved access to mortgage and investment financing.
Mahdi said InfraCredit had guaranteed a N1 billion real estate financing facility for the project, while Shelter Afrique provided N10 billion to support the development of the site.
He said Phase One of the Nasarawa Technology Village had already been completed and handed over, while the 129 units being presented to beneficiaries formed part of Phase Two.
According to him, Phase Three would involve the construction of about 300 houses through FMBN funding.
Mahdi said FMBN’s participation was critical to delivering affordable housing because of the bank’s understanding of mortgage financing and the housing sector. “Unless and until the Federal Mortgage Bank touches your project in affordable housing, you have not started,” he said.
The Modern Shelter chief executive assured the federal government of the company’s continued readiness to partner with FMBN and the Ministry of Housing and Urban Development in delivering affordable homes to Nigerians.