The Federal Government has achieved another milestone in its affordable housing drive as the Federal Mortgage Bank of Nigeria (FMBN) successfully delivered 129 completed three-bedroom bungalows under its Rent-to-Own Scheme.Read original
The commissioning and key-presentation ceremony took place on September 1, 2026, at the Nasarawa Technology Village located in Karu, Nasarawa State. The event was graced by key government officials, led by the Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma, PhD, who officially handed over the keys to beneficiaries.
Speaking at the event, the Managing Director and Chief Executive Officer of the FMBN, Shehu Usman Osidi, reiterated the institution's unwavering commitment to National Housing Fund (NHF) contributors. He assured stakeholders that the remaining 122 housing units required to complete the project phase are on track and will be fully delivered before the end of 2026.
The Rent-to-Own housing initiative is designed to ease the burden of homeownership for working Nigerians, allowing beneficiaries to move into their homes and conveniently pay over an agreed period through affordable periodic installments.