Minister of Housing and Urban Development Ahmed Musa Dangiwa has reaffirmed the Federal Government’s commitment to providing affordable and dignified housing for Nigerians, especially under the Renewed Hope Housing Programme of President Bola Tinubu’s administration.

Speaking through a statement, Dangiwa said the housing programme is ambitious, people-orientated, and designed to cater to all income levels.

“The three core components of the programme; Renewed Hope Cities, funded by PPP in six locations, which is for the high-income earners; Renewed Hope Estate, targeted in 30 states of the federation, which is for the medium- and low-income earners; and the third component, Renewed Hope Social Housing, which is in the planning phase and is for the low- to zero-income earners, the vulnerable and displaced persons,” he explained.

The Minister emphasised that the Ministry is working closely with state governments to provide land for the housing projects, while developers and financial institutions such as the Federal Mortgage Bank of Nigeria and the Family Homes Fund would support housing delivery.

He noted that cooperative societies have a unique opportunity to be at the forefront of these initiatives and encouraged them to tap into the available resources.

He highlighted that members could access federal mortgage loans with single-digit interest rates over 30 years, in addition to other financing options such as ethical mortgages, rent-to-own, and cooperative housing development loans specifically designed for bulk housing projects.

Accordingly, Dangiwa urged the NHIA Cooperative to acquire land and partner with developers, stating that “FMBN is ready to provide funding so long as the cooperatives can profile their members to ensure they can afford the houses.”

He assured the team that the Managing Director of FMBN would provide technical support throughout the housing development process.

He also stressed the need for caution and due diligence when dealing with developers and land agents.

“Before you acquire any land, make sure that the land is secured, certificated and not under any encumbrance,” he advised.

On concerns about the Brains and Hammers Bungalow City in Kubwa, Abuja, Dangiwa assured that FMBN and the developers were working together to resolve any outstanding issues and called on cooperative societies across Nigeria to mobilise and take advantage of the housing opportunities under the Renewed Hope programme.

“This is the time to mobilise your members, secure land, identify needs and approach FMBN or the Ministry for support; as long as you are an NHF contributor, then you are entitled to any support from the FMBN mortgage,” he added.

Earlier in his remarks, President of the NHIA Cooperative, Abdullahi Yusuf, thanked the Minister for his efforts in facilitating members’ access to housing through the FMBN’s Rent-to-Own product.

He shared that the cooperative had previously entered into an arrangement with a private developer that failed, resulting in neither land delivery nor a refund of the funds committed.

Yusuf said the Cooperative was now determined to avoid further losses and had approached the Ministry to benefit from the FMBN Rent-to-Own product, which he believes will provide members with the opportunity to own homes.

“When I heard about the rent-to-own product being initiated by you, I knew this was the way to go. This one I know I am dealing with the Federal Mortgage Bank of Nigeria,” he stated.

Yusuf also informed the Minister that 36 out of around 100 staff members who were screened had already been allocated homes and cleared to proceed with ownership at the Brains and Hammers Bungalow City, Kubwa, in Abuja.

He disclosed that the Cooperative proposed a bulk payment model from the source, rather than individual monthly deductions, under the rent-to-own scheme. According to him, this would ease the financial burden on members.

“What you have done for us, we will never forget. Honestly, I wrote the letter reluctantly, unsure it would even reach the Minister. But when I visited FMBN, I was informed that the Minister had already written twice on the matter and that a committee headed by an Executive Director had been constituted to address it,” he further appreciated.