The Delta State Government has handed over 10.1 hectares of land to the Federal Mortgage Bank of Nigeria (FMBN) for the development of a workers’ housing estate in Ibusa, Oshimili North Local Government Area.
The project, which seeks to provide affordable housing for state employees, was formally launched in Asaba where Governor Sheriff Oborevwori presented the Certificate of Occupancy (C of O) to FMBN officials on Tuesday.
Governor Oborevwori explained that the initiative is a collaborative effort between the FMBN, Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC). He said the land, situated at Core Area 2 in Ibusa, is intended mainly for junior and middle-level staff, many of whom spend a significant share of their income on rent.
“This gesture reflects our administration’s dedication to improving the welfare of workers,” the governor said. He further disclosed that the government had waived statutory fees valued at about N200 million in order to fast-track implementation and ensure early completion.
The governor encouraged FMBN to deliver the project on schedule, stressing its importance in lifting the living conditions of employees. He also praised President Bola Tinubu for directing federal agencies to work more closely with state governments on housing initiatives.
Nigeria continues to grapple with a severe housing deficit, as demand far outpaces supply. According to the Federal Ministry of Housing and Urban Development, about 550,000 new units are required annually for the next ten years at an estimated cost of N5.5 trillion to bridge the gap.
Current budgetary allocations remain insufficient, placing increased focus on innovative partnerships between the public and private sectors, as well as between federal and state governments.
The Delta-FMBN arrangement mirrors the federal government’s wider push on affordable housing under the Renewed Hope Housing Campaign.
Despite longstanding capitalisation constraints—the FMBN’s capital base has remained at N2.5 billion for decades—the bank continues to play a central role in state-backed housing delivery. Several projects under the Renewed Hope Estates and Cities Programme are nearing completion nationwide, offering a framework for expanding homeownership.