WED JULY 29 2026-theGBJournal| Hand of God Construction Company Ltd said on Tuesday it plans to build 2,000 affordable housing units in Nigeria’s oil-producing Delta State within 24 months, betting on mortgage financing to help tackle the country’s chronic housing shortage.
The company said the project, once approved by the Delta State government, is expected to create about 34,000 direct and indirect jobs and support the state’s internally generated revenue.
Managing Director David Nwachukwu said the development would target civil servants and low- and middle-income earners through long-term mortgage financing backed by the Federal Mortgage Bank of Nigeria (FMBN) and other housing finance institutions.
Nigeria faces an estimated housing deficit running into millions of homes, with limited access to affordable mortgages and high construction costs constraining home ownership for many households.
Developers have increasingly turned to public-private partnerships and government-backed mortgage schemes to bridge the gap.
Nwachukwu said his company had delivered similar housing estates in other parts of the country in partnership with the FMBN and intended to replicate the model in Delta State.
He said financing for the project had largely been secured through existing housing finance schemes, adding that mortgage facilities of up to ₦100 million were available through the FMBN and other lending partners.
The proposed estate will include roads, commercial centres and other supporting infrastructure alongside the residential units, he said.
Construction would begin immediately after land allocation and statutory approvals, with groundbreaking expected within weeks.
The first phase of the project could be completed within 12 months, Nwachukwu said.
He added that the company was not seeking free land from the Delta State government, describing the proposal as a commercial partnership under which the state would receive financial returns while expanding access to affordable housing.
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