LAGOS — Access to affordable financing remains the primary solution to Nigeria’s housing deficit. Real estate developer Mixta Africa recently demonstrated this by handing over the keys to 27 new homeowners.
The handover took place at Ibudo Wura. This affordable housing estate sits along the Lekki-Epe Expressway in Lagos. This recent delivery brings the total number of completed homes across Phases 1 and 2 to 192.
Funding the Path to Ownership
Appropriate funding structures allow more families to secure property. Homebuyers at Ibudo Wura utilized the Ministry of Finance Incorporated Real Estate Investment Fund.
This specialized fund offers highly accessible entry points for buyers through the following structures:
- Low Initial Deposit: Buyers secure a home with just 10 percent equity.
- Flexible Payments: The initial equity is payable over a six-month period.
- Single-Digit Interest: Mortgages carry an interest rate of 9.75 percent per annum.
- Extended Tenors: Repayment periods range from five to 20 years.
- Manageable Monthly Rates: Indicative monthly repayments start from N534,785.
Turning Promises into Reality
Buying a home is a major financial and emotional commitment. Tola Akinsulire, Group Chief Commercial Officer at Mixta Africa, stated that handing over keys is the exact moment a developer’s promise becomes tangible.
“Today, 27 more families have taken possession of homes they can call their own,” Akinsulire said. “Our responsibility is to keep earning that trust through consistent delivery across our communities.”
Verified Titles and Buyer Confidence
Homeowners cited authentic documentation and build quality as their main reasons for investing. Soprinye Banjo, a new resident, highlighted the developer’s 20-year track record. She noted that verified land titles ensure seamless transactions and prevent future disputes.
Another buyer, Tunji Adeyemi, praised the construction quality. He also emphasized the strategic value of the Lagos New Town corridor. Buyers increasingly view the area as a prime location to live, work, and eventually retire.
Frequently Asked Questions
Where is the Ibudo Wura estate located? The estate is situated along the Lekki-Epe Expressway in Lagos.
How many homes are completed at Ibudo Wura? Mixta Africa has completed 192 homes across Phases 1 and 2 of the development.
What financing fund did the buyers use? Buyers accessed funding through the Ministry of Finance Incorporated Real Estate Investment Fund.
How do buyers verify property details? Interested buyers typically contact the developer directly to review authentic titles and schedule a physical inspection of the property before purchase