ABUJA — The Federal Government on Tuesday handed over houses to beneficiaries of its Rent-to-Own Housing Scheme at Bungalow City along the Dei-Dei–Zuba Expressway in Abuja, reaffirming its commitment to expanding access to affordable homeownership under the Renewed Hope Housing Programme.
Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, who presented symbolic keys to the new homeowners during the commissioning ceremony, said the Tinubu administration remained determined to make decent and affordable housing accessible to more Nigerians.
He assured beneficiaries that all subscribers under the Rent-to-Own Scheme would receive the keys to their homes before the end of the year.
The housing units were developed by Brains & Hammers Limited with funding from the Federal Mortgage Bank of Nigeria (FMBN) through a Public-Private Partnership (PPP) arrangement.
Darma said affordable housing remained central to President Bola Ahmed Tinubu’s Renewed Hope Agenda, noting that the government was working to ease the burden of rising rents, particularly in major cities such as Abuja and Lagos.
According to him, high rental costs have continued to place enormous financial pressure on many workers, especially civil servants, reducing their disposable income and affecting their standard of living.
“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,” the minister said.
Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria, Shehu Usman Osidi, said the delivery of the houses followed the resolution of allocation challenges caused by the earlier transfer of part of the estate to security agencies.
He explained that the bank set up a joint technical committee with Brains & Hammers Limited to address the issues, adding that the intervention of the housing minister ensured that all profiled beneficiaries were eventually allocated homes.
Osidi congratulated the beneficiaries and reiterated the bank’s commitment to supporting affordable homeownership through innovative mortgage financing.
Speaking on behalf of the beneficiaries, Barrister Sanusi Seidu Dantsoho thanked the Federal Government for giving them the opportunity to become homeowners.
He also commended the Federal Mortgage Bank of Nigeria for financing the project and pledged that residents would work together to maintain a peaceful, orderly and well-managed estate.
Dantsoho urged the Federal Government to sustain and expand similar housing initiatives across the country to enable more Nigerians to realise the dream of owning a home.
The Rent-to-Own Scheme is one of the flagship initiatives under the Renewed Hope Housing Programme designed to provide affordable and sustainable housing for Nigerians through partnerships between the government and the private sector.
