The Federal Government and state governments have called for reforms in Nigeria’s land administration and mortgage financing systems, proposing single-digit mortgage interest rates and repayment periods of up to 35 years to make homeownership more affordable.
The proposal was presented on Monday by the Sokoto State Commissioner for Lands, Housing, Survey and Country Planning, Nasiru Aliyu Dantsoho, at the 15th meeting of the National Council on Land, Housing and Urban Development in Sokoto.
Key Highlights
- Single-digit mortgage rates: Government representatives have called for lower interest rates to improve access to housing finance.
- 35-year repayment period: The proposed extension from 25 to 35 years is intended to reduce monthly mortgage payments.
- Housing deficit: The call comes amid estimates of more than 14.5 million housing units needed across Nigeria.
- Informal sector inclusion: Authorities want traders, farmers and self-employed Nigerians to gain better access to mortgage financing.
- Land administration reforms: Digitisation of land records and faster processing of Certificates of Occupancy have been identified as priorities.
- Renewed Hope Housing Programme: Sokoto State says it is allocating land for mass housing projects under the Federal Government’s initiative.
Nigeria Seeks Affordable Mortgage Rates to Address Housing Crisis
Dantsoho said reducing mortgage interest rates from the current double-digit levels to single digits, alongside extending repayment periods from 25 to 35 years, would ease the financial burden on prospective homeowners.
He said the measures could expand access to housing finance and help more Nigerians purchase homes without facing excessively high monthly repayments.
The commissioner described Nigeria’s housing situation as concerning, citing estimates of a housing deficit exceeding 14.5 million units and reports that about 50.6 million people live in unsafe housing conditions.
He called for urgent and sustained government intervention to address the challenges and improve access to decent, affordable accommodation.
The five-day council meeting, scheduled for October 12 to 16, 2026, is themed “Strengthening Mortgage, Land and Institutional Systems for Accelerated and Inclusive Housing Delivery.”
Government Targets Mortgage Access for Informal Sector Workers
The Sokoto commissioner also called for expanded mortgage financing for Nigerians working in the informal sector, including traders, farmers and self-employed people who often struggle to meet the requirements of conventional housing finance providers.
He urged financial institutions, particularly the Federal Mortgage Bank of Nigeria, to provide adequate funding and introduce flexible repayment arrangements that reflect borrowers’ different income levels and payment patterns.
According to Dantsoho, many informal sector workers earn irregular incomes, making conventional mortgage requirements difficult to meet.
He said expanding affordable housing finance would require lending arrangements that recognise these realities while maintaining appropriate safeguards for lenders and borrowers.
Land Administration Reforms Needed to Improve Homeownership
Dantsoho said mortgage reforms must be accompanied by changes to land administration to remove barriers that prevent Nigerians from acquiring land and building homes.
He advocated the digitisation of land administration systems across states to improve transparency, speed up transactions and make land more accessible for housing development.
Efficient land administration, he said, would help reduce delays in property transactions and support the delivery of affordable housing.
The proposed reforms are also expected to improve coordination between government institutions, financial organisations and private-sector developers involved in the housing market.
Federal Ministry Seeks Practical Housing Policy Solutions
Earlier, Mukhtar Iliyasu Umar, Director of Planning, Research and Statistics at the Federal Ministry of Housing and Urban Development, described the National Council on Land, Housing and Urban Development as an important platform for identifying challenges and developing practical policy responses.
Umar said deliberations at the meeting would follow a three-stage process involving the consideration, harmonisation and approval of recommendations on key housing and urban development issues.
He stressed that the quality of the council’s decisions would depend on sound technical analysis, well-developed proposals and effective coordination among stakeholders.
The recommendations are expected to contribute to discussions on how to improve housing delivery, strengthen mortgage financing and make land administration more efficient.
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Sokoto Digitises Land Records, Expands Mass Housing Plans
Also speaking, Ahmad Moyi Tambuwal, Permanent Secretary of the Sokoto State Ministry of Lands and Housing, outlined measures being implemented by the state to improve land administration and housing delivery.
He listed the digitisation of land records, efforts to reduce the time required to process Certificates of Occupancy and the allocation of land for mass housing projects under the Federal Government’s Renewed Hope Housing Programme.
Tambuwal said resolving Nigeria’s housing crisis requires coordinated action beyond the construction of additional buildings.
He emphasised that affordable homeownership depends on accessible mortgage financing, efficient land administration, effective policies and stronger cooperation between government agencies and private-sector operators.
Mortgage and Land Reforms Seen as Key to Affordable Housing
The proposals discussed at the Sokoto meeting highlight the role of mortgage financing and land administration in determining how easily Nigerians can own homes.
Lower interest rates and longer repayment periods could reduce monthly payments for eligible borrowers. However, the practical impact would depend on mortgage funding, lending conditions, borrowers’ incomes, property prices and the implementation of the proposed reforms.
Digitised land records and faster property documentation could also help reduce administrative delays that affect housing development.
The council’s deliberations are expected to shape recommendations for improving access to housing finance and accelerating housing delivery across the country.
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