A lack of healthy mortgage financing system in Nigeria has made the rate of home ownership in the country one of the lowest in Africa. Nigeria’s home ownership rate is currently put at about 25 per cent, which is a far cry from that of contemporary countries.

FMBN, under the present management, has been adopting several strategies to ensure that the housing deficit is bridged. Such strategies include the rent-and-own model that allows low income participants to rent a home for 15 to 20 years and own the property at the end of the period. This new approach to the housing market has resulted in ...

http://www.estatetimesnigeria.com/fmbn-now-creating-access-to-mortgage-finance-for-the-informal-sector-kumo-2/