Emefiele seized duplexes sale is at the center of a bold Federal Government initiative to reduce Nigeria’s housing deficit.
The FG has announced plans to sell 753 seized luxury duplexes in Abuja once linked to ex-CBN Governor Godwin Emefiele to low and middle-income Nigerians.
But as the nation applauds the initiative, many are asking: Will the average Nigerian truly benefit from this massive real estate recovery?
FG’s Ambitious Housing Plan: A Renewed Hope?
The Ministry of Housing and Urban Development has confirmed the sale of a large estate at Plot 109,
Cadastral Zone C09, Lokogoma District, Abuja.
Spanning over 150,000 square meters, this estate includes 753 unfinished duplexes assets recovered
by the Economic and Financial Crimes Commission (EFCC) through a high-profile case involving Godwin Emefiele.
Believed to have been financed through illicit forex transactions and kickbacks,
these properties were forfeited to the government in 2024 following a court ruling.
Now, the estate is part of President Bola Tinubu’s Renewed Hope Agenda to promote housing for all Nigerians.
According to the Ministry, the sale aims to offer Nigerians a fresh start.
“The goal is not only to recover looted property but to repurpose it for social good,” the Minister of Housing emphasized.
How the Government Plans to Sell the Estate
The Federal Ministry has announced that the estate will be sold to low and middle-income Nigerians
through a transparent online portal: renewedhopehomes.fmhud.gov.ng.
Buyers will benefit from flexible payment plans, including:
Mortgage Options
Installment Payments
Rent-to-Own Schemes
Applications will be evaluated based on eligibility criteria such as income level, employment status, and family size.
The government aims to ensure fairness and prevent political manipulation.
What Does “Affordable” Really Mean?
Pricing remains a major concern. Housing experts note that even discounted four-bedroom duplexes are expensive to build and maintain.
Town planner Moses Ogunleye highlighted a critical issue: “There’s a mismatch between the property type and the target audience.
This estate should be remodeled into smaller, affordable units or sold at market value to fund genuine social housing projects.”
Developer Stephen Eke added, “Without 60–70% subsidies, these homes will remain unaffordable for those who need them most.”
Breaking Down Mortgage Affordability
Let’s examine whether low-income Nigerians can realistically afford these homes:
Assumed Cost Per Duplex: ₦30 million (after discount)
Mortgage Tenure: 25 years
Interest Rate: 7% (National Housing Fund rate)
Estimated Monthly Payment: ~₦212,000
When compared with the average monthly income of Nigerian civil servants (₦80,000–₦120,000),
it becomes evident that affordability remains a significant barrier.
Environmental and Structural Issues Pose a Threat
The estate’s mid-construction abandonment has led to overgrown bushes, creating a breeding ground for snakes and other reptiles.
Nearby residents report frequent sightings and raise safety concerns.
One local stated, “At night, we hear movements, and during the day, reptiles appear. The estate urgently needs fumigation and renovation.”
Besides environmental risks, structural issues such as water damage, mold, and cracked foundations must be addressed before occupancy.
Experts Suggest Remodeling as a Viable Solution
Adewunmi Okupe of Ace Hi-Tech Construction Ltd. suggests remodeling as the best option.
“These duplexes can be converted into two-bedroom apartments or flats within each block, significantly improving affordability and access,” Okupe explained.
Real estate analyst Blessing Okoh supports this view: “If each duplex is converted into three studios or one-bedroom apartments, this project could house over 2,000 families instead of 700.”
Transparency Is Key to Success
Concerns grow that political elites might hijack the allocation process.
Godfrey Godfrey, spokesperson of the Nigerian Institute of Building, urged the ministry to ensure full transparency.
“We’ve seen similar programs benefit only the powerful,” he warned.
Aliyu Wamakko, former REDAN President, advocates a fully digital, open application system to minimize bias and build public trust.
“Nigerians must see the list of beneficiaries publicly verified,” he insisted.
Innovative Allocation Systems: A Win-Win?
Housing advocate Festus Adebayo proposes a digital raffle system where applicants purchase tokens using their Bank Verification Numbers.
Winners could receive subsidized rents or flexible payment options.
“This system would raise funds, promote fairness, and identify genuine low-income applicants,” he explained.
Others suggest a points-based allocation system awarding points based on:
Family size
Income level
Employment sector (teachers, nurses, etc.)
Current housing conditions
This method prioritizes those in greatest need.
Historical Housing Deficit in Nigeria
Nigeria faces a housing shortage exceeding 17 million units. Cities like Abuja, Lagos, and Port Harcourt struggle with overcrowded slums and rising rents.
According to a 2023 National Bureau of Statistics report, over 60% of urban residents live in rented housing,
often spending more than 40% of their income on rent. If well-managed, this project could help ease the crisis.
The Global Perspective: Lessons from Abroad
Countries such as Brazil, India, and Indonesia have successfully implemented mass housing for low-income populations by partnering with private developers and NGOs.
Nigeria could replicate these strategies by adopting:
Public-Private Partnerships (PPP) for faster delivery
Subsidized land and infrastructure to cut building costs
Community ownership models promoting shared equity
Emefiele’s Legal Bid to Reclaim the Estate Fails
Emefiele attempted to reclaim the estate, alleging the EFCC concealed court proceedings.
However, Justice Y. Halilu ruled against him, noting proper legal protocols, including public notices, were followed.
The court affirmed that Emefiele had ample opportunity to contest the forfeiture but failed to act in time.
Long-Term Implications on FG Policy
If successful, this initiative could set a precedent for:
Utilizing seized assets for public benefit
Addressing housing inequality
Building trust in government programs
It could encourage states and LGAs to explore similar uses for unused properties.
Conversely, failure or corruption risks undermining public confidence.
What do you think about the FG’s plan to sell these seized duplexes to Nigerians?
Will it genuinely benefit low-income citizens?
Share your views in the comments below and follow NIGPOST for ongoing updates on housing, politics, and national development.
Author:Fatima Musa
Date: 24 May 2025
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