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Good Morning,
Nigeria's housing finance reform agenda has gathered pace following a new government directive requiring the Federal Mortgage Bank of Nigeria (FMBN) to convert at least 40% of National Housing Fund (NHF) contributions into mortgage loans. Announced by the Minister of Housing and Urban Development, the measure aims to improve mortgage accessibility, strengthen confidence in the NHF Scheme and accelerate affordable housing delivery across the country.
FG Orders 40% NHF Mortgage Disbursement in New Housing Finance Reform Push
The Federal Government has unveiled a new housing finance reform aimed at improving mortgage accessibility by directing the Federal Mortgage Bank of Nigeria (FMBN) to ensure that at least 40% of National Housing Fund (NHF) contributions are disbursed as mortgage loans. The directive forms part of a broader reform agenda designed to strengthen housing finance, improve the utilisation of contributors' funds and accelerate affordable homeownership across Nigeria. The announcement was made by the Minister of Housing and Urban Development during the BusinessDay Future of Housing Conference in Abuja.
Lagos Doesn't Just Have a Housing Shortage It Has a Capital Allocation Problem
Lagos' housing crisis is not solely the result of an inadequate supply of homes but also reflects how investment capital is allocated across the property market, according to industry experts. While the state's housing deficit remains significant, analysts argue that a disproportionate share of private investment continues to target premium developments instead of the affordable housing segment where demand is highest.
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.
House Rents Defy Market Logic as Nigeria's Housing Affordability Crisis Deepens
House rents across Nigeria continue to rise despite weaker household purchasing power and slowing economic activity, highlighting deep structural challenges in the country's housing market. Industry analysts attribute the persistent increase in rental prices to limited housing supply, rising construction costs, inflation and rapid urbanisation, factors that continue to outweigh weakening consumer demand.
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Residents Raise Alarm Over Deteriorating Oke-Afa Bridge as FG Promises Repairs
Residents of Isolo, Oke-Afa and neighbouring communities in Lagos have raised fresh concerns over the deteriorating condition of the Oke-Afa Bridge, warning that delayed maintenance could pose significant safety risks to commuters and surrounding communities. The bridge, which serves as a major transport corridor linking Oshodi-Isolo, Ejigbo, Jakande, Oke-Afa and Ikotun, has also become an illegal dumpsite, compounding environmental and public health concerns. In response, the Federal Government has assured residents that the bridge will undergo repairs rather than demolition.
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Dangote Confirms Successful Completion of $2.5 Billion Private Placement
Dangote Petroleum Refinery has confirmed the successful completion of a $2.5 billion private placement, marking one of the largest corporate fundraising transactions by an African company. The capital raise strengthens the refinery's financial position ahead of its planned initial public offering (IPO) and is expected to support the next phase of expansion for Africa's largest single-train refinery.
Senate Urges Greater Access to Credit as CBN Highlights Reform Progress
The Central Bank of Nigeria (CBN) has defended its ongoing monetary and banking sector reforms following concerns raised by the Senate over inflation, credit expansion and the flow of financing to productive sectors of the economy. During a statutory oversight session with the Senate Committee on Banking, Insurance and Other Financial Institutions, lawmakers acknowledged progress in financial sector reforms but urged the apex bank to ensure that stronger bank balance sheets translate into increased lending that supports economic growth.
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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