In a significant policy recommendation aimed at tackling Nigeria's housing deficit, a leading realtor has called for a mandatory scheme where companies provide staff housing as a core employment benefit.
A New Policy for Employee Housing Access
Dr. Meckson Okoro, the Principal and CEO of M.I. Okoro & Associates, has proposed a major shift. He wants the government to compel all companies employing 50 workers or more to incorporate staff housing into their benefits package. This proposal was made on 9 January 2026.
He explained that this housing should be delivered through the Federal Government's Renewed Hope Housing Estates. The scheme would utilise the funding policy of the Federal Mortgage Bank of Nigeria (FMBN) with a loan tenure of 30 years.
The key advantage, according to Okoro, is that employees would gain access to housing at the point of employment. "Instead of the employer deducting without remitting," he noted, the deducted funds could directly assist the worker in paying the initial 10 per cent equity contribution on the house cost.
Addressing Flaws in the Current System
Dr. Okoro highlighted the shortcomings of the existing National Housing Fund (NHF) model. He observed that despite mandatory contributions deducted from salaries, many workers never become homeowners, even after retirement.
"Instead of waiting to access this fund at retirement when the money would have lost value due to inflation, the new policy would guarantee more access to housing for workers," he reasoned.
He also pointed to past failures where government-built houses were acquired by "big men" or officials who then resold them at a profit, sidelining the intended beneficiaries. To prevent this in the Renewed Hope Estates, he called for an improved version of the policy.
Partnerships and Broader Recommendations
Okoro spoke during the signing of a Memorandum of Understanding (MoU) between QShelter Limited and his firm. The partnership covers real estate agency and marketing for the Renewed Hope Housing Estates in Abuja and Kano, as well as the 2004 Coastal Road Estate in Lagos.
For a healthy mortgage market, he urged the government to ensure all sites for the estates receive a clean title upfront. This would avoid legal hurdles and allow banks to disburse funds without fear of disputed ownership.
Alamu Adegbenga, Chief Operating Officer of QShelter Limited, echoed the need for efficiency. He called on the government to simplify and fast-track title registration processes to boost investment in housing.
Adegbenga disclosed that the Ministry of Housing, with Continental and General Construction Company (CCGCC), plans to deliver 100,000 housing units nationwide. This includes 20,000 units each in Abuja and Lagos, and 60,000 units spread across the 36 states.
Supporting the initiative, Victor Alonge, President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), expressed confidence in the sales framework. He suggested reserving a defined percentage of units for low-income earners, civil servants, and essential workers.
Dr. Okoro concluded with a vision of scale, stating that if the government could develop 50 million houses over time, it would create a vast stream of ground rent and land use charges for state governments, boosting their revenues.
