Nigeria’s housing sector receives a major push as Delta State grants land and waives ₦200m fees to FMBN for a workers’ housing estate in Ibusa
Nigeria’s housing sector has received a significant boost as Delta State Governor, Sheriff Oborevwori, on Tuesday handed over a Certificate of Occupancy (C of O) to the Federal Mortgage Bank of Nigeria (FMBN) for the construction of a workers’ housing estate in Ibusa, Oshimili North Local Government Area.
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Governor Oborevwori stated that the initiative is in response to the high rental burden faced by junior and middle-level workers, many of whom spend a large portion of their income on housing.
“Most of the salaries of our junior and middle-level workers are consumed by rent. That is why this housing scheme is so important,” he said.
The land—approximately 10.1 hectares in Core Area 2, Ibusa—has been allocated for a collaborative housing scheme involving the FMBN, Nigeria Labour Congress (NLC), and Trade Union Congress (TUC).
To support the project, the Delta State Government waived statutory fees worth ₦200 million, removing financial barriers to land acquisition.
Although the C of O was ready in January 2024, its presentation was delayed by administrative processes, according to the governor.
Dr. Mohammed Sani Abdul, Executive Director of Loans and Mortgage Services at FMBN, commended the governor’s proactive approach to infrastructure and housing.
He urged local government councils in Delta to contribute to the National Housing Fund (NHF) so the bank can scale similar projects to rural communities.
“Delta is very key to the success of this national plan, and we want to make a lasting impact here,” said Abdul.
The FMBN is currently undertaking nine housing projects across Lagos, Abuja, Kano, and other cities, and now seeks to expand aggressively into the South-South region.
Dr. Abdul linked the Delta project to the Renewed Hope Mega Mini-City initiative by President Bola Tinubu, which aims to tackle Nigeria’s housing deficit of 20 to 22 million units.
He emphasized that the bank’s focus is on affordability, particularly for those “at the bottom of the pyramid.”
Governor Oborevwori reiterated that the workers’ housing estate is part of his administration’s larger commitment to welfare and economic dignity.
“We appeal to FMBN to ensure the project is delivered on time and made accessible to those for whom it is intended,” he added.
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With housing insecurity a persistent challenge, this initiative marks a positive shift in Nigeria’s Housing Sector, showing how federal and state collaboration can address long-standing structural deficits.
Source: Read more at freelanews.com
