The federal government has expanded access to affordable home ownership through its Renewed Hope housing scheme, making it easier for Nigerians to own homes with flexible mortgage options.

Malam Ahmad Garba, branch manager at the Federal Mortgage Bank of Nigeria in Kano, disclosed this during a stakeholder engagement organised by QShelter Limited, a private-sector partner delivering affordable housing under the initiative.

According to Mr Garba, Nigerians can now access loans to purchase homes and repay over several years based on mutually agreed terms.

“The process is designed to be seamless. Once the conditions are signed, buyers can settle payments within a reasonable timeframe,” he said.

Speaking at the event, Dare Makinde, chief commercial officer of QShelter Limited, said the firm had come from Lagos to engage investors, agents, and other stakeholders in the housing ecosystem.

“We want to showcase what we have accomplished in Kano under the Renewed Hope housing partnership.

“395 housing units have been completed at Renewed Hope City, Janguza, Kano, and are awaiting inauguration by President Bola Tinubu, after which keys will be handed over to owners,” Mr Makinde stated.

He argued that, contrary to public assumptions about high costs, the houses were both affordable and accessible.

He noted that the mortgage process had been simplified, saying that buyers pay only 10 per cent of the property price, while the mortgage bank covers the balance for those opting for the loan scheme.

In her remarks, Bilkisu Ibrahim, director of Architecture at the Kano State Urban Planning and Development Authority (KNUPDA), said the scheme aligned with the Kano State government’s agenda to provide affordable housing for low-income earners.

“With this development, we hope to see a newly developed Kano state within the next five years,” she said.

(NAN)