FAQ about Nigeria Housing Finance Programme

The Nigeria Housing Programme seeks to address the key barrier to
developing accessible and affordable housing in Nigeria. It will be
implemented with parallel funded projects in land registration and
construction sectors by the DFID and GIZ (Deutsche Gesellschaft fur
Internationale Zusammenarbeit GmbH).

The Programme has three components, and will be most effective if a
coordinated approach to all parts of the value chain is implemented.
The main areas are:
a) land and legal framework,
b) access to affordable housing finance, and
c) housing development and construction.

NMRC is being established with the primary aim of resolving access
to affordable housing finance, and importantly, as a focal point for
creating an enabling environment for housing finance by playing a
strong developmental role in supporting the improvement of land and
legal framework and housing development and construction.

* Guarantee of Housing Microfinance Scheme Programme and how will it
benefit the lower income households?

The Housing Finance Program will introduce innovative new products
such as housing micro finance for lower income households. Smaller
mortgages will be made available for incremental building through
Micro Finance Institutions.

For example if someone already has land and a partially built home
or has enough savings to build a basic home, a small mortgage can be
accessed to start that home.

The program will also develop a guarantee program, which is intended
to increase equity contributions for a mortgage loan. If a low-​
income household applies for a loan that requires a down payment of
40 % of the loan, the intention that this product could cover up to
50 % of the value of the down payment.