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Good Morning,
The Federal Government has proposed a new regulatory framework that would require developer licensing and introduce escrow accounts to protect homebuyers' funds. The reforms aim to improve transparency, strengthen consumer confidence, and establish higher standards across Nigeria's housing and real estate industry.
FG Proposes Developer Licensing, Escrow Accounts to Protect Nigerian Homebuyers
The Federal Government has proposed a comprehensive regulatory framework for Nigeria's housing sector that would require property developers to obtain licences before selling homes and introduce regulated escrow accounts to protect homebuyers' funds. The proposed reforms, announced by the Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, are designed to strengthen consumer protection, improve transparency, and restore confidence in Nigeria's real estate market. The measures were unveiled during the BusinessDay Abuja Real Estate Conference 2026 in Abuja.
ICPC Hands Recovered Abuja Land to FMBN to Complete 962 Housing Units
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has formally transferred recovered land in Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria (FMBN), clearing the way for the completion of a stalled housing project expected to deliver 962 residential units. The handover follows a final forfeiture order issued by the Federal High Court and marks a significant step in returning recovered public assets to productive use through affordable housing delivery
The State of Housing 2026 - Speaker Spotlight
This week we're featuring Bright Okereke
President of Flinx Realty Limited
Join him and other industry leaders on August 14.
FMBN Finances 1,590 Homes in Nasarawa, Disburses ₦9.5bn in Housing Loans
The Federal Mortgage Bank of Nigeria (FMBN) has financed more than 1,590 housing units across Nasarawa State and disbursed over ₦9.5 billion in Home Renovation Loans to more than 10,600 civil servants, underscoring the growing role of housing finance in expanding affordable homeownership. The figures were disclosed by FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, during a meeting with Nasarawa State Governor Abdullahi Sule, where both parties reaffirmed their commitment to strengthening collaboration on housing development.
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16 States Adopt Harmonised Tax Framework to Reduce Multiple Taxation
The Joint Revenue Board (JRB) has announced that 16 states have now adopted a harmonised tax framework designed to eliminate multiple taxation, standardise revenue administration and improve the ease of doing business across Nigeria. The framework forms part of the Federal Government's wider tax reform programme and seeks to create a more transparent and efficient tax system by aligning tax administration across state and local governments. The reforms also prohibit unauthorised tax collection practices and promote digital revenue administration.
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Only 80 Million Nigerians Have Access to Electricity, REA Warns
The Rural Electrification Agency (REA) has disclosed that only about 80 million Nigerians currently have access to electricity, highlighting the country's significant infrastructure gap as it works towards universal energy access. Speaking on the need to accelerate electricity expansion, the agency said improving access to reliable power remains essential for economic development, industrial growth and improved living standards. The REA is pursuing a combination of decentralised renewable energy systems, mini-grids and local solar manufacturing to bridge the country's electricity deficit.
Smart Meter Training Programme Set to Strengthen Housing Infrastructure Delivery
The Federal Government has commenced the training of the first 5,000 electricity meter installers under its Power Force Programme, a key component of the Presidential Metering Initiative (PMI), after receiving nearly 220,000 applications from young Nigerians. While the programme is primarily designed to accelerate the nationwide rollout of smart electricity meters, it also has significant implications for housing development by improving the quality and reliability of utility infrastructure serving residential communities.
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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