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Title: Making Homeownership Accessible: Rethinking Nigeria’s Housing Finance System

By Hon. (Dr.) Saheed Mosadoluwa AudullahiExecutive Managing Director/Chief Executive Officer, Harmony Garden & Estate Development Ltd.Nigeria, 29th Sep 2026—Homeownership remains one of the strongest aspirations of the Nigerian family. Yet for millions of Nigerians, the dream of owning a home remains difficult to achieve, not necessarily because of a lack of income or willingness to pay, but because conventional housing finance structures often require financial commitments that do not reflect the realities of the average Nigerian.The question we must therefore ask is not simply, “How do we build more houses?” It is also, “How do we make homeownership financially accessible?”Nigeria's housing challenge requires a fundamental rethink of how people finance property.Beyond the Traditional Mortgage ModelThe traditional mortgage model can be difficult for many Nigerians because it often depends on substantial upfront payments, formal income structures, long-term credit assessment, and repayment conditions that may not accommodate entrepreneurs, informal-sector workers, young professionals, or Nigerians living in the diaspora.This does not mean conventional mortgages are irrelevant. Rather, it means Nigeria needs more financing options.Homeownership should have multiple pathways: conventional mortgages, rent-to-own structures, structured installment payments, cooperative financing, and other innovative models that allow people to acquire property according to their financial capacity.The objective should be to create a system where ability to pay over time can be as important as the ability to pay everything at once.From Renting to OwningFor many Nigerians, rent consumes a significant portion of household income without creating an ownership asset.This is where rent-to-ow...

This press release is issued by King Newswire