The Federal Government has unveiled subscribers of Rent -to-own housing scheme, saying that
they are committed to delivering affordable housing for Nigerians by
expanding and sustaining similar housing programmes across the nation.

The Rent-to-Own Scheme is one of the housing initiatives under the Renewed Hope Housing Programme implemented through a Public-Private Partnership arrangement aimed at providing sustainable and affordable housing for Nigerians.

The Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma asserted this when performing the symbolic handover of keys to the beneficiaries during the official commissioning of their houses at Bungalow City along the Dei-Dei–Zuba Expressway in Abuja.

According to Darma, the houses were built by Brains & Hammers Limited with funding provided by the Federal Mortgage Bank of Nigeria (FMBN) under a Public-Private Partnership (PPP) arrangement.This is President’s commitment to delivering affordable housing to Nigerians.

He restated that Tinubu’s ambitious target of increasing access to housing across the country, noting that affordable homeownership remains central to the administration’s agenda.

He argued,the burden of high rents in cities such as Abuja and Lagos, and they leave many civil servants with limited income to meet other basic needs, saying, the Ministry is not only focused on making more affordable and to improving the well-being of Nigerians by enhancing their capacity to afford decent accommodation.

“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 and substantial number of beneficiaries would collect their keys at the event, ” Darma declared.

On his part, the Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, acknowledged that the delivery of the Bungalow City units was not without challenges.

Osidi noted that the allocation of part of the estate to security agencies had initially disrupted the assignment of homes to approved subscribers under the Bank’s Rent-to-Own Scheme.

He revealed that the Bank responded swiftly by establishing a joint technical committee with Brains & Hammers Limited to resolve all allocation issues, adding that the timely intervention of the Minister, Engr. Darma, was instrumental in ensuring that every profiled beneficiary ultimately received a home.

Osidi congratulated the new homeowners and reaffirmed FMBN’s commitment to delivering affordable homeownership across Nigeria and supporting President Bola Ahmed Tinubu’s Renewed Hope vision.

Speaking on behalf of the beneficiaries, Barr. Sanusi Seidu Dantsoho expressed profound gratitude to the Government for the opportunity to become homeowners, commending the government’s efforts to expanding access to affordable housing and ensuring that deserving Nigerians benefit from such interventions.

Dantsoho also praised the Federal Mortgage Bank of Nigeria (FMBN) for its crucial role in financing the housing units, describing the institution as a key driver of homeownership in the country.

He therefore assured the Minister and others that the beneficiaries would collaborate to maintain a peaceful, orderly, and well-managed housing community alongside other residents,urged the government to sustain similar housing programmes across the nation to enable more Nigerians to realise their dream of owning a statement in Abuja.