FG and FMBN Launch Rent-to-Own Scheme to Address Housing Crisis

The Federal Government, in partnership with the Federal Mortgage Bank of Nigeria (FMBN), is set to introduce a rent-to-own scheme to assist Nigerians in moving from renting to owning homes. The initiative aims to alleviate the housing crisis by offering practical solutions to urban workers and young families struggling with rising rents.

The scheme will provide flexible monthly payment options to cover annual rent, allowing gradual ownership. The program aligns with urban renewal efforts and aims to attract private sector investments in the housing sector.