The Housing Development Advocacy Network has called on the Federal Government to convert to affordable rental housing a recently seized Abuja estate of 753 duplexes and other apartments belonging to former Central Bank Governor, Godwin Emiefele.
The property located in the Cadastral Zone Area of the FCT was recently visited by the Minister of Housing and Urban Development, Ahmed Dangiwa, and the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede.
In a statement released by the Executive Director of HDAN, Festus Adebayo, the organisation urged that the seized estate, reportedly consisting of high-value villas, should not be sold to the highest bidders but rather restructured and retained under public ownership for the benefit of Nigeria’s most disadvantaged population, particularly young people and low-income families.
He said, “This is a golden opportunity to turn a seized asset into a national solution. We are proposing that the estate be remodelled into one- and two-bedroom units and allocated for heavily subsidised rental to Nigerians through a transparent and equitable process.
“The properties should be allocated via a digital raffle draw. Interested participants would purchase a maximum of two online raffle tickets linked to their Bank Verification Number, priced at N10,000 per ticket.
The draw would be conducted publicly, with the Honourable Minister personally rolling the raffle ball. Winners would be notified automatically via SMS and subsequently required to sign tenancy agreements with the estate’s managing agency before moving in.”
Adebayo explained that the proceeds from the raffle sales could generate as much as N10bn if one million Nigerians participate, which would be sufficient to fund the remodelling and completion of the estate.
“This makes it a self-financing social housing initiative, eliminating the usual challenge of financial viability associated with rental housing.
“The advocacy group recommends that the Federal Housing Authority be designated as the manager of the estate, which should be preserved as a long-term social housing project. Rents, they suggest, should be set at approximately 50 per cent or less of current market rates, with the goal of ensuring affordability while generating enough income for estate maintenance and management.
“Why young people? Because they represent the most disadvantaged segment of the population in terms of access to decent housing. This is an opportunity to not only address an urgent housing need but also restore trust in government-led housing initiatives.”
He emphasised that the focus on rental housing was strategic and long overdue.
“We need to start building a portfolio of well-managed, publicly owned social rental housing. This project presents a zero-cost entry point for the government to do just that.
“HDAN believes the converted estate could deliver up to 2,000 rental units, a significant addition to Nigeria’s critically undersupplied affordable housing stock. Moreover, it sends a strong message that seized public assets can be repurposed for the collective good, rather than recycled into private hands.
“This approach not only ensures fairness, transparency, and efficiency, but it also sets a precedent for how we handle recovered assets going forward, turning lost wealth into social dividends.”
HDAN has called on the Federal Ministry of Housing and Urban Development, EFCC, FHA, and other stakeholders to give serious consideration to this model, describing it as a landmark opportunity to institutionalise social housing in Nigeria.
