Abuja:The Minister of Housing and Urban Development, Mr. Muttaqha Darma, has expressed his appreciation for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in supporting affordable housing for its employees.
According to News Agency of Nigeria, Darma made this commendation during the presentation of allocation letters to NMDPRA staff under the Renewed Hope Cities and Estates Programme. He emphasized the significance of this initiative in light of Nigeria’s substantial housing deficit and the challenges many citizens face in securing adequate homes.
Darma highlighted the Federal Government’s commitment to expanding access to affordable housing through strategic partnerships. He noted the country’s need for over 16 million housing units to address the current deficit and accommodate the large number of Nigerians lacking adequate housing.
The minister also pointed out the rising costs of building materials and construction, which have made home ownership increasingly difficult. H
e underscored the importance of institutional support for workers seeking to acquire homes as a crucial step in alleviating this burden.
NMDPRA’s Chief Executive, Malam Rabiu Umar, noted that approximately 430 staff members in Abuja, Kano, and Lagos received allocation letters as part of the program. Umar stated that this development demonstrates how government policies can translate into tangible benefits for citizens and workers, emphasizing the importance of staff welfare in institutional performance.
The partners involved include the Federal Mortgage Bank of Nigeria (FMBN), Family Homes Funds Ltd., City Code Mortgage Bank Ltd., Renewed Hope SPV, Key Shelter Ltd., and participating developers. The Chief Executive of FMBN, Mr. Shehu Osidi, revealed that 197 National Housing Fund mortgage applications, valued at around N8.3 billion, are being processed by City Code Mortgage Bank Ltd.
Osidi disclosed that FMBN had provided a N100 billion off-take guarantee for the Renewed Hope Cities and Estates Programme,
along with N19.9 billion in direct funding. He also mentioned FMBN’s plans to introduce a Rent-to-Own product for eligible civil servants and a memorandum of understanding for a N10 billion housing loan scheme for Federal Civil Servants.
Mr. Abdullahi Auta, President of the Authority Staff Cooperative Society, stated that over 1,000 NMDPRA staff applied for the housing initiative, but around 430 have been accommodated so far. Auta called for continued support to extend the benefits of the scheme to more staff.
Chief Commercial Officer of Renewed Hope SPV Ltd., Mr. Dare Makinde, detailed the first phase of the project, which includes 365 units in Abuja, 14 units in Kano, and 56 units in Lagos. Makinde announced plans for a second phase next year and additional projects in Asaba, Enugu, and Ibadan. He emphasized the importance of institutional support in helping workers achieve home ownership amidst rising rents.