Federal Government has announced plans to establish a National Housing Finance Authority (NHFA) as part of a broader strategy to make home ownership more accessible and affordable for Nigerians.
Gatekeepers News reports that the proposed agency is expected to strengthen housing finance, improve access to mortgage loans and bridge long-standing gaps in the country’s housing sector.
The Minister of Housing and Urban Development, Muttaqha Darma, disclosed the plan on Tuesday during a stakeholders’ validation workshop in Abuja. He said the proposed authority would serve as a central institution for coordinating housing finance policies and mobilising long-term funding to support affordable housing development across the country.
According to the minister, the NHFA will consolidate existing housing finance initiatives under a single framework, enhance collaboration among public and private sector stakeholders, and create sustainable financing mechanisms that will enable more Nigerians, particularly low- and middle-income earners, to own homes.
Darma said the initiative forms part of ongoing reforms by the Federal Government to tackle Nigeria’s housing deficit by improving access to affordable mortgages and encouraging greater private sector participation in housing delivery. He added that the reforms are designed to stimulate investment in the real estate sector while supporting economic growth and job creation.
The minister also called on stakeholders to support the proposed reforms, noting that their contributions would help shape a more efficient and inclusive housing finance system capable of meeting the country’s growing housing needs.
