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By Oscar Okhifo
The Federal Government on Tuesday handed over houses to beneficiaries of its Rent-to-Own Housing Scheme in Abuja, as it reaffirmed its commitment to expanding affordable homeownership opportunities for Nigerians under the Renewed Hope Housing Programme.
The keys were presented to the beneficiaries by the Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, during the commissioning of the Bungalow City estate located along the Dei-Dei–Zuba Expressway in the Federal Capital Territory.
Developed by Brains & Hammers Limited and financed by the Federal Mortgage Bank of Nigeria (FMBN), the housing project was executed under a Public-Private Partnership (PPP) framework aimed at boosting access to affordable housing.
The Rent-to-Own Scheme forms part of the Federal Government’s Renewed Hope Housing Programme, a flagship initiative designed to bridge the housing deficit and make homeownership attainable for low- and middle-income Nigerians.
Addressing beneficiaries and stakeholders at the event, Darma said the Tinubu administration remains committed to ensuring that more Nigerians have access to decent and affordable homes through innovative housing interventions.
He noted that the government is intensifying efforts to expand housing opportunities nationwide, stressing that affordable homeownership is central to the administration’s social and economic agenda.
The minister expressed concern over the rising cost of accommodation in major urban centres, particularly Abuja and Lagos, saying the trend has continued to place significant pressure on the finances of many workers and families.
The minister noted that the government’s housing interventions are aimed not only at reducing accommodation costs but also at improving the quality of life of Nigerians by enabling them to own decent homes.
“We are determined to meet the expectations of Nigerians in providing shelter for them. All beneficiaries of this Rent-to-Own Scheme will receive the keys to their homes before the end of the year,” Darma said.
He added that a substantial number of beneficiaries were receiving their keys at the ceremony, underscoring the government’s resolve to ensure effective project delivery.
Also speaking, the Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria, Shehu Usman Osidi, acknowledged that the delivery of the Bungalow City housing units encountered some challenges.
Osidi explained that the allocation of part of the estate to security agencies had initially disrupted the assignment of houses to approved subscribers under the Rent-to-Own Scheme.
He disclosed that the bank subsequently constituted a joint technical committee with Brains & Hammers Limited to address the allocation issues and ensure that all profiled beneficiaries received their homes.
“The timely intervention of the Minister of Housing and Urban Development was instrumental in resolving the allocation challenges and ensuring that every approved beneficiary ultimately got a home,” he said.
Osidi congratulated the beneficiaries and reaffirmed FMBN’s commitment to supporting affordable homeownership across the country in line with President Tinubu’s Renewed Hope agenda.
Speaking on behalf of the beneficiaries, Barrister Sanusi Seidu Dantsoho expressed appreciation to the Federal Government for giving them the opportunity to own homes through the Rent-to-Own Scheme.
He described the initiative as a life-changing intervention for many Nigerians and commended the administration’s efforts to make affordable housing accessible to deserving citizens across the country.
Dantsoho also lauded the Federal Mortgage Bank of Nigeria (FMBN) for providing the financial backing that made the project possible, describing the institution as a critical partner in promoting homeownership.
He pledged that the new homeowners would work closely with other residents and relevant stakeholders to ensure the estate remains peaceful, orderly and properly managed.
“We will collaborate to ensure a peaceful, orderly and well-managed housing environment for the benefit of all residents,” he said.
He further urged the Federal Government to sustain and expand similar housing initiatives nationwide, noting that such programmes would help many more Nigerians realise their dream of owning a home.