Delta Govt Allocates 10.1 Hectares to FMBN for Workers’ Housing Estate in Ibusa

The Delta State Government has allocated 10.1 hectares of land to the Federal Mortgage Bank of Nigeria (FMBN) for the development of a housing estate in Ibusa, Oshimili North Local Government Area, as part of efforts to provide affordable housing for state workers.

Governor Sheriff Oborevwori presented the Certificate of Occupancy (C of O) to FMBN management on Tuesday in Asaba, stressing that the initiative reflects his administration’s commitment to workers’ welfare.

He disclosed that the state had waived statutory fees worth about ?200 million to ease the process and ensure the scheme remains accessible to junior and middle-level workers, many of whom spend a significant portion of their income on rent.

“This housing project is a crucial step in improving the welfare of our workers. We are pleased to collaborate with FMBN, the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC) to make affordable housing a reality for our people,” the governor said.

Oborevwori also urged FMBN to deliver the project on schedule and commended President Bola Tinubu for encouraging federal agencies to partner with states on housing initiatives.

Nigeria’s Housing Deficit

Nigeria continues to face a severe housing shortage, with demand far outstripping supply. The Federal Ministry of Housing and Urban Development estimates that the country needs to deliver about 550,000 housing units annually at a cost of ?5.5 trillion over the next decade to close the gap.

However, yearly budget allocations for housing remain insufficient, limiting government’s ability to fund large-scale projects.

Federal–State Collaboration

To address this challenge, the Federal Government has directed FMBN to work with state governments on bankable housing projects under the Renewed Hope Housing Campaign. The Delta–FMBN partnership is one of such efforts, designed to expand homeownership and reduce the housing deficit.

Despite these initiatives, FMBN faces funding constraints. Its capital base of ?2.5 billion, unchanged for decades, has restricted its ability to mobilise large-scale financing in line with its national mandate.

Broader Housing Push

Beyond state partnerships, several housing projects are underway across Nigeria under the Renewed Hope Estates and Cities Programme, with a number of sites already nearing completion.

The Delta housing estate in Ibusa is expected to serve as a model for future federal–state collaborations to ease Nigeria’s housing deficit while improving workers’ welfare.