129 Nigerians have now become homeowners following the handover of 129 completed three-bedroom bungalow housing units by the Federal Mortgage Bank of Nigeria (FMBN) under the Rent-to-Own Scheme in Nasarawa State.
Speaking at the handover ceremony on Monday, the Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma described the delivery as a demonstration of what could be achieved through stakeholder collaboration.
He noted that of the 651 beneficiaries originally profiled for Bungalow City, 251 were left without allocation, necessitating government intervention.
The Minister commended the FMBN leadership, the House of Representatives Committee on Housing and Habitat, Brains & Hammers and Modern Shelter for working towards a solution, while also applauding President Bola Ahmed Tinubu for placing housing at the heart of the Renewed Hope Agenda and the Nasarawa State Government for its support.
“Our housing agenda is not simply about structures; it is about people and about restoring confidence in public institutions,” he stated, assuring the remaining 122 beneficiaries that their homes would be delivered before the end of 2026.
He added that the Federal Government would continue to pursue housing delivery through partnerships involving public institutions, financiers, private developers and state governments.
In his welcome address, the Managing Director/Chief Executive of FMBN, Shehu Usman Osidi, described the handover as a demonstration of institutional responsibility, commitment to customers and robust stakeholder management.
He explained that the 129 units constituted the first batch of the 251 units required for beneficiaries who could not take possession of their homes at Bungalow City.
“The event we are having today sends a clear message: FMBN will not abandon any NHF contributor who has demonstrated loyalty and commitment to the National Housing Fund and to the Bank,” Osidi declared.
The Chief Executive further explained that FMBN had remained actively engaged in finding a practical solution through reconciliation and verification exercises, technical assessments, engagements with developers and inspections of alternative housing sites.
“When challenges arise in the delivery of a housing project, our responsibility does not end with identifying the challenge. Our responsibility is to find solutions,” he said.
He disclosed that the Bank would return to the site in December to commission the remaining 122 units alongside another 190 FMBN-funded housing units.
On his part, the Project Developer and Managing Director of Modern Shelter Systems and Services Ltd, Arc. Abdulmalik Mahdi, commended the Federal Government, FMBN and the Nasarawa State Government for supporting the development of the Nasarawa Technology Village.
He said the next phase of the project would involve about 300 additional houses funded by FMBN, stressing the importance of FMBN’s affordable housing finance in driving delivery.
“Unless and until the Federal Mortgage Bank touches your project in affordable housing, you have not started,” Mahdi said.
Also speaking, the Managing Director of the Nasarawa State Investment Development Agency (NASIDA), Mr. Ibrahim Abdullahi, reaffirmed the state government’s commitment to housing and urban renewal, noting that addressing Nigeria’s housing deficit required value engineering through design optimisation, assured offtake finance and Public-Private Partnerships, which Nasarawa State was leveraging to accelerate housing delivery.
The event was also attended by the Permanent Secretary of the Ministry of Housing and Urban Development, Dr. Shuaib Muhammad Belgore; Executive Directors of FMBN overseeing Loans and Mortgage Services, Dr. Muhammad Sani Abdu; Finance and Corporate Services, Mr. Ibidapo Odojukan; and Business Development and Portfolio Management, Mrs. Chinenye Chinedu Anosike; Directors from the Ministry; as well as other key stakeholders in the built environment.
The beneficiaries, who expressed appreciation for finally receiving the keys to their homes after years of waiting, described the handover as a restoration of hope and confidence in the housing finance system, affirming that FMBN is real and that their lost hope had been renewed.