The Housing Development Advocacy Network (HDAN) is calling on the Federal Government to transform a recently seized estate in Abuja, formerly owned by ex-Central Bank Governor Godwin Emefiele, into affordable rental housing. The estate, which consists of 753 duplexes and other apartments, was recently inspected by the Minister of Housing and Urban Development, Ahmed Dangiwa, along with the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede.
In a statement from HDAN’s Executive Director, Festus Adebayo, the organization emphasized that the estate, which includes high-value villas, should not be sold to the highest bidders. Instead, it should be restructured and kept under public ownership to benefit Nigeria’s disadvantaged populations, particularly young people and low-income families.
Adebayo stated, “This is a golden opportunity to convert a seized asset into a national solution. We propose remodeling the estate into one- and two-bedroom units for heavily subsidized rental, allocated through a transparent process.”
The allocation would occur via a digital raffle draw, where participants could buy up to two tickets linked to their Bank Verification Number at N10,000 each. The draw would be conducted publicly, with the Minister overseeing the event. Winners would receive notifications via SMS and would need to sign tenancy agreements before moving in.
Adebayo explained that if one million Nigerians participate, the raffle could generate around N10 billion, sufficient to fund the remodeling and completion of the estate. “This initiative would be self-financing, addressing the common financial viability concerns associated with rental housing.”
The advocacy group recommends that the Federal Housing Authority manage the estate, preserving it as a long-term social housing project. They suggest setting rents at about 50% or less of current market rates to ensure affordability while generating enough income for maintenance.
“This project is crucial for young people, who are among the most disadvantaged in accessing decent housing. It not only addresses urgent housing needs but also aims to restore trust in government-led housing initiatives.”
Adebayo emphasized the importance of focusing on rental housing, calling it both strategic and overdue. “We need to build a portfolio of well-managed, publicly owned social rental housing. This project offers a zero-cost entry point for the government to achieve that.”
HDAN believes the converted estate could provide up to 2,000 rental units, significantly contributing to Nigeria’s shortage of affordable housing. This approach sends a strong message that seized public assets can be repurposed for the collective good rather than being returned to private ownership.
The organization has urged the Federal Ministry of Housing and Urban Development, EFCC, FHA, and other stakeholders to seriously consider this model, viewing it as a landmark opportunity to institutionalize social housing in Nigeria.
