IGP targets mortgage funds to bridge police housing gap
The Nigeria Police Force is seeking to unlock multi-billion-naira mortgage financing and private-sector capital to accelerate the delivery of affordable housing for its personnel, in a move that could deepen private investment in the country’s public-sector housing market. Inspector General of Police, IGP Olatunji Rilwan Disu, said the Force would leverage funds available through the […]
The Nigeria Police Force has announced plans to utilise multi-billion-naira mortgage financing and private-sector capital to tackle its housing deficit, as detailed by Inspector General of Police, IGP Olatunji Rilwan Disu. This initiative, which leverages funds from the Police Mortgage and the Federal Mortgage Bank of Nigeria (FMBN), aims to provide affordable housing for police personnel by partnering with private developers.
Disu emphasized the Force's intent to move away from direct government funding towards a more diversified financing model that incorporates mortgage finance, private equity, and public-sector support. The priority is to address the accommodation needs of the rank and file, who make up the majority of police personnel. The redevelopment programme could also create opportunities for various investors, including property developers, construction companies, and mortgage financiers, as the police seek to engage private-sector participation in the housing market.
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