FG Moves to Expand Mortgage Access with Proposed National Housing Finance Authority

By GLEBM News

The Federal Government is proposing the establishment of a National Housing Finance Authority as part of broader efforts to improve access to affordable mortgages and stimulate growth in Nigeria’s housing sector.

The proposed institution is expected to strengthen housing finance by improving coordination across the mortgage ecosystem, mobilising long-term funding and expanding home ownership opportunities for Nigerians.

Housing experts say Nigeria’s mortgage market remains significantly underdeveloped compared with peer economies, with high borrowing costs and limited long-term financing continuing to restrict access to home ownership.

The proposal comes as authorities seek to address the country’s housing deficit while encouraging greater private-sector investment in residential development.

Industry stakeholders believe that a stronger housing finance framework could unlock new opportunities for developers, financial institutions and homebuyers, while also supporting job creation across construction, manufacturing and related sectors.

Analysts say successful implementation will depend on clear legislation, sustainable funding mechanisms and stronger collaboration between government agencies, mortgage institutions and private investors.