The Federal Government has handed over 129 housing units to beneficiaries of the Federal Mortgage Bank of Nigeria Rent-to-Own programme and says another 122 units will be completed before the end of 2026.
Housing and Urban Development Minister Muttaqha Darma announced the commitment at a handover ceremony at Nasarawa Technology Village in Karu, Nasarawa State.
The beneficiaries had originally been allocated houses in Brains & Hammers Bungalow City but were unable to take possession after part of the estate was subsequently allocated to security agencies.
Darma described the handover as the resolution of a difficult housing dispute and said the government intended to ensure that the remaining beneficiaries also received homes before year-end.
He said the delivery formed part of the housing component of President Bola Tinubu’s Renewed Hope Agenda.
The minister reiterated the government’s target of delivering 100,000 housing units before the end of the administration’s tenure.
FMBN Managing Director Shehu Osidi said the 129 units represented the first batch of 251 replacement homes intended for affected Rent-to-Own beneficiaries.
The units were funded by FMBN and developed by Modern Shelter Systems and Services Limited.
Osidi said the bank worked with the Ministry of Housing, the National Assembly and other stakeholders to verify affected beneficiaries, assess alternative sites and reach an arrangement for replacement housing.
He said 400 of the 651 profiled off-takers were ultimately accommodated at Bungalow City while additional measures were required for the rest.
The remaining 122 units at Nasarawa Technology Village are expected to be completed by December alongside another 190 homes being financed by FMBN.
Modern Shelter Managing Director Abdulmalik Mahdi said the project had also attracted financing support through InfraCredit and Shelter Afrique.
He said a N1 billion real estate financing facility had been guaranteed by InfraCredit while Shelter Afrique provided N10 billion toward development of the site.
The government said the wider objective was to strengthen confidence among National Housing Fund contributors by ensuring that their contributions ultimately translated into access to homeownership.
