Federal Govt, States Mull Mortgage, Land Reforms To Widen Homeownership Access

The federal and state governments are considering far-reaching mortgage and land administration reforms aimed at widening access to homeownership for millions of Nigerians who are shut out of the housing market by high interest rates, short repayment periods, and slow land processes.

The proposals include reducing mortgage interest rates from double-digit levels to single digits, extending repayment periods from 25 to 35 years, and introducing flexible financing arrangements for traders, farmers and other self-employed Nigerians with irregular incomes.

These were the discussions at the 15th meeting of the National Council on Land, Housing and Urban Development (NCLHUD), which opened in Sokoto on Monday amid concerns over Nigeria’s housing deficit of more than 14.5 million units and an estimated 50.6 million people living in unsafe housing conditions.

Sokoto State commissioner for Lands, Housing, Survey and Country Planning, Nasiru Aliyu Dantsoho, said cheaper mortgages would ease repayment burdens and enable more low- and middle-income earners to own decent homes.

He urged the Federal Mortgage Bank of Nigeria (FMBN) and other financial institutions to provide adequate funding for affordable housing delivery, while calling for mortgage financing to be extended beyond formal public and private-sector workers.

Dantsoho also identified inefficient land administration as a major constraint on housing delivery. He asked state governments to digitise land records and processes to improve transparency, reduce delays and make land more accessible for residential development.

The discussions were held under the theme, “Strengthening Mortgage, Land and Institutional Systems for Accelerated and Inclusive Housing Delivery.” The five-day meeting brought together federal and state officials, built-environment professionals and regulatory bodies.

Director of Planning, Research and Statistics at the Federal Ministry of Housing and Urban Development, Mukhtar Iliyasu Umar, said the council would examine sectoral challenges and harmonise policy recommendations through technical review, harmonisation and adoption.

Permanent Secretary of the Sokoto State Ministry of Lands and Housing, Engr. Ahmad Moyi Tambuwal, said the state was digitising land records, reducing the time for processing Certificates of Occupancy and making land available for mass housing projects under the Federal Government’s Renewed Hope Housing Programme.

He said addressing the housing crisis required more than building houses, stressing that affordable accommodation depended on efficient land administration, accessible mortgage finance, effective policies and stronger collaboration between government and private-sector operators.

Participants are expected to develop recommendations to improve housing finance, close institutional gaps, and accelerate sustainable urban development nationwide.