About 430 workers of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have been allocated homes under the Federal Government’s Renewed Hope Cities and Estates Programme, supported by substantial mortgage financing.
Expanding Access to Homeownership
The housing allocations cover developments in Abuja, Kano, and Lagos. To facilitate the property purchases, the Federal Mortgage Bank of Nigeria (FMBN) is currently processing 197 National Housing Fund (NHF) mortgage applications valued at approximately ₦8.3 billion for the eligible staff.
FMBN Managing Director, Shehu Usman Osidi, confirmed that the mortgage applications are being packaged for submission through City Code Mortgage Bank. The financing structure connects eligible workers directly to completed housing units, allowing them to spread the cost of homeownership over time rather than relying on heavy upfront payments.
Phase One Projects Across Three States
The initial phase of the housing programme delivers various property types across three major locations. In Abuja, 365 units are being allocated, including two- and three-bedroom flats, as well as three-bedroom terrace duplexes with boys’ quarters at the Karsana development.
In Kano, workers received 14 units at Janguza, comprising three- and four-bedroom bungalows, fully detached houses, and three-bedroom terrace duplexes. The Lagos component features 56 two- and three-bedroom apartments with boys’ quarters.
NMDPRA Chief Executive, Rabiu Umar, noted that demand for the scheme significantly exceeded the available housing supply. According to the NMDPRA Authority Staff Cooperative Society, over 1,000 workers applied for the initiative. A second phase is expected next year to accommodate applicants who were not included in the initial batch, with planned expansions to Asaba, Enugu, and Ibadan.
Mitigating Rising Construction Costs
During the formal presentation of allocation letters in Abuja, Minister of State for Housing and Urban Development, Muttaqha Rabe Darma, highlighted the necessity of institutional housing schemes in the face of rising construction and building material costs. He noted that without mortgage finance and collaborative housing initiatives, conventional homeownership would become increasingly difficult for workers whose incomes have not matched rising property prices.
To further ease the affordability burden and accelerate housing delivery, Osidi revealed that FMBN provided a ₦100 billion off-take guarantee for the Renewed Hope Cities Programme, alongside ₦19.9 billion in direct project financing for the Karsana site.
The mortgage bank also plans to introduce a new Rent-to-Own product for eligible civil servants, expanding alternative routes to homeownership amid challenging economic conditions.