FHA has about N5trn in housing assets across the country – FHA boss
Abuja, Aug. 2026 – The Federal Housing Authority (FHA) has about N5 trillion in property assets across the country.
Oyetunde Ojo, its Chief Executive, said this this while highlighting the scale of the agency’s property during a media chat on Monday.
He said the valuation included ground rents from allottees and occupants of FHA estates.
The FHA chief executive said between 10,000 and 15,000 housing units were ready for delivery under the current administration.
He said the government was working with private investors in the real estate sector for housing development as the MOFI Real Estate Investment Fund (MREIF) had just released about ₦200 billion for private investors to access.
He said the use of private capital remained important to housing delivery as government funding alone could not provide the scale of investment required to address Nigeria’s housing needs.
Ojo said that FHA had also built about 120 housing units in Ajoda, Ibadan while another 100 units had been delivered in Lugbe, Abuja.
“In Gwari, Abuja, close to 400 units are expected to be commissioned. Ojo said the development was delivered without funding from the Federation Account,” he said.
“The authority is also preparing to commission 1,550 housing units in Jibi, Abuja, which were procured for the Nigerian Army and constructed in less than a year.
“At Karsana, Abuja, the development comprises 3,112 housing units, with the first phase of about 2,000 units expected to be commissioned soon,” he said.
The FHA chief executive said the Authority was also working on developments outside Abuja.
He said between 500 and 600 housing units in Kano are expected to be inaugurated by the ministry of housing and urban development, while about 500 units in Lagos are also nearing inauguration.
“The authority has additionally commenced housing projects in several states, including Odukpani in Cross River State.
“The geographical spread of the projects reflects efforts to move housing delivery beyond Abuja and address demand across different regions,” he said.
The minister said the Karsana project illustrated the relationship between housing delivery and infrastructure as the FCT Minister, Nyesom Wike, is undertaking road construction in Karsana to improve access to the development.
He said a recurring issue in housing market in Nigeria is the construction of residential units without adequate supporting infrastructure.
Ojo said roads, drainage, electricity, water and public transportation remained important components of successful housing delivery in the country. (NHM)
