…………….Calls on Cooperative Societies to organize and participate in the Renewed Hope Housing Programme.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has reaffirmed the Federal government’s commitment to providing affordable and dignified housing to Nigerians.
The Minister spoke when he received the President of the National Health Insurance Authority (NHIA) Cooperative Society, Abdullahi Yusuf and members of his team on a courtesy visit to his office.
He mentioned that the Renewed Hope Housing Programme of the present administration was ambitious and a people oriented one to cater for all categories of income earners.
“The three core components of the programme; Renewed Hope Cities funded by PPP in six locations is for the high income earners, the Renewed Hope Estate, targeted in 30 states of the federation is for the medium and low income earners, while the third component Renewed Hope Social Housing, which is in the planning phase, is for the low to zero income earners, the vulnerable and displaced persons” he explained.
Dangiwa also stated that, the Ministry is working with state governments to provide land for the houses to be built in the States for the benefit of the citizens of the state, adding that developers and financial institutions such as Federal Mortgage Bank of Nigeria, and Family Homes Fund, will provide access to delivery.
He told the Cooperative team that they, as well as other Cooperative Societies, have a unique opportunity to be at the fore front of the housing programmes, highlighting that the federal mortgage loans is available with single-digit interest rates over 30 years to support members.
He informed of other options, aside the interest loan single rates, such as ethical mortgage, Rent to Own and the cooperative housing development loans, designed for building bulk housing projects, for the members of the Cooperative society.
Accordingly, he encouraged the Cooperative Society to acquire land and partner with developers, informing of the readiness of the FMBN to provide funding, so long as the cooperatives can profile their members to ensure they can afford the houses.
He gave the assurance that the managing director of the FMBN would provide technical support to the cooperative throughout the housing development process.
Arc. Dangiwa also emphasized on the importance of due diligence in the Cooperative’s dealings with developers and land agents to avoid fraudulent activities; “before you acquire any land, make sure that the land is secured, certificated and not under any encumbrance”, he advised.
Responding on the Brains and Hammers bungalow city, the Minister assured that the FMBN and developers were working together to provide amicable solutions for any issue that may arise.
Dangiwa further called on all cooperative societies across Nigeria to organize themselves and participate in the renewed hope housing program.
“This is the time to mobilize your members, secure land, identify needs and approach FMBN or the Ministry for support, as long as you are an NHF contributor, then you are entitled to any support from the FMBN mortgage”, he added.
Speaking earlier, the President of the NHIA Cooperative, Abdullahi Yusuf, expressed appreciation to the Hon Minister for his role in facilitating members’ access to housing under the Rent-to-Own Product of the Federal Mortgage Bank of Nigeria (FMBN).
He explained that the Cooperative previous financial commitments with a private developer to address the housing needs of its members unfortunately failed, as the Society neither received land nor a full refund of the funds committed.
Yusuf stated that NHIA under his leadership is determined to avoid further losses, hence decided to write to the Minister seeking to benefit on the Rent-to-Own product of the FMBN and hoping that it would enable members to realise their dream of homeownership.
“When I heard about Rent -to- Own Product being initiated by you, I knew this is a way to go. This one I know I am dealing with Federal Mortgage Bank of Nigeria,” he stated.
He informed the Minister that thirty-six out of about one hundred staff members screened have been allocated houses, and received clearance to proceed to take ownership at the Brains and Hammers Bungalow City, Kubwa. Abuja.
He also disclosed that their Cooperative Society has proposed an arrangement for bulk payment from source rather than individual monthly deductions as required under the Rent-to-Own scheme, noting that it would reduce the financial burden on members.
“What you have done for us, we will never forget. Honestly, I wrote the letter reluctantly, unsure it would even reach the Minister. But when I visited FMBN, I was informed that the Minister had already written twice on the matter, and that a committee headed by an Executive Director had been constituted to address it,” he further appreciated.
Signed
Badamasi S. Haiba, Fsca
Director Press and Public Relations
August 6th, 2025.
