Broadcasting
FG-backed mortgage reforms help over 700 Nigerians become homeowners in 6 months
More than 700 Nigerians have successfully transitioned from renters to homeowners within six months, following the implementation of landmark mortgage reforms spearheaded by the Federal Government through the Ministry of Finance Incorporated (MOFI).
The milestone, announced on Tuesday, marks a significant shift in Nigeria’s housing sector, which has long faced challenges including high interest rates, limited financing options, slow mortgage processing, and a housing deficit exceeding 28 million units.
Central to this transformation is the MOFI Real Estate Investment Fund (MREIF), a Securities and Exchange Commission (SEC)-registered ₦1 trillion fund designed to provide long-term, affordable mortgages to ordinary Nigerians.
The fund offers interest rates as low as 9.75 percent per annum and repayment periods of up to 20 years, making homeownership more accessible than ever.
At full utilization, MREIF aims to enable at least 12,000 Nigerians to own homes, with additional refinancing support planned through the Nigerian Mortgage Refinancing Company.
For decades, many Nigerians have been trapped in a cycle of rent payments, often described as “funding their landlord’s retirement.” Now, with MREIF, homebuyers can secure loans and move into their own homes within weeks.
Since its launch, MREIF has disbursed funds to over 700 homebuyers through 11 Eligible Financial Institutions across five regions of the country.
These institutions, licensed by the Central Bank of Nigeria and preapproved by MREIF, include Abbey Mortgage Bank, Access Bank, AG Mortgage Bank, FCMB, FHA Mortgage Bank, Gateway Mortgage Bank, Globus Bank, Homebase Mortgage Bank, Imperial Homes Mortgage Bank, Infinity Trust Mortgage Bank, Living Trust Mortgage Bank, Nigeria Police Mortgage Bank, Providus Bank, Stanbic IBTC, and Union Bank. Each mortgage represents a family moving from rent into ownership, building equity, stability, and generational wealth.
The Federal Government committed ₦150 billion under Series 1 funding, fully subscribed in December 2024, while private sector investors added another ₦100 billion under Series 2. Additional tranches could scale the fund to ₦1 trillion, ensuring long-term sustainability.
The fund is professionally managed by ARM Investment Managers, with a structure anchored in public–private collaboration to ensure affordability, transparency, and efficiency.
Wale Odutola, CEO of ARM HoldCo, said MREIF embodies the kind of partnership Nigeria has long needed—government resolve combined with private sector rigour.
He added that together with MOFI, they are laying the structural foundation for a housing sector that rewards citizens, unlocks investor confidence, and drives inclusive growth.
Beyond individual mortgages, MREIF also offers offtake guarantees to developers, encouraging new construction projects, creating jobs, and strengthening the housing supply chain. Nigerians in the diaspora now have a transparent, government-backed platform to invest in secure homeownership.
Despite challenges such as inflation, forex volatility, and high construction costs, MREIF’s long-term financing model is designed to withstand economic shocks. As more financial institutions, pension funds, and developers join the initiative, thousands more Nigerians—both at home and abroad—are expected to benefit.
The message is clear: the era of affordable homeownership has arrived in Nigeria. With Federal Government backing and private sector management, MREIF is not just a housing scheme—it is a national economic reform poised to reshape lives and communities across the country.
Mrs. Clementine Wamba, head, Digital Switch Over (DSO) at the National Broadcasting Commission (NBC), has stressed the need for broadcasting stations and practitioners nationwide to work towards meeting the 2028 global deadline for the switch over.
She made the call in her presentation titled, “DSO Big Picture: Free TV Audience Measurement and the Evolving Media Landscape”, at the 2026 NBC South West Summit held in Ibadan.
Wamba harped on the need for practitioners to adopt DSO in the transmission of news and other programmes in order to meet future challenges, stating that any country that fail to align with the DSO by 2028 will be shut out of practice.
This development, according to her, may result in job losses and other consequences that could hinder the growth of the industry in Nigeria, noting that Free TV is tailored towards the DSO, with provision for many channels in contrast to the age-long analogue system.
According to her, “The Digital Switch Over is a technological improvement on the age-long analogue style of broadcasting in the country. With the adoption of the DSO, practitioners will be in tune with global practice of broadcast journalism.
“Also, its benefits include efficient use of spectrum, changing of industry landscape, more access to national development programmes and better viewing experience.”
National Broadcasting Commission (NBC) has said that Nigerians will no longer pay annual Digital Access Fees under the renewed Digital Switch Over (DSO) project.
Charles Ebuebu, director-general, NBC, disclosed this in an exclusive interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja,
Ebuebu said viewers only need to purchase an approved decoder and satellite dish which cost below N20,000 to enjoy free television permanently.
“Previously, users paid an annual digital access fee of about N1,500, described as an administrative charge.
“The new system removes that annual fee. It provides free access to free-to-air television channels without any payment.
“Premium channels will be introduced later. Viewers who want those additional channels will be able to access them through paid services.
“Nigerian content on free-to-air channels remains free to watch. Unlike Pay TV, this platform does not require monthly subscriptions for its basic service,” he said
Ebuebu said approved decoders for the FreeTV will cost less than N20,000 and authorised sales outlets will soon be announced.
He urged Nigerians to wait for official information on approved dealers for the DSO decoders, warning that unauthorised sellers are exploiting growing public demand.
He reiterated that people only need a free-to-air decoder, along with a satellite dish instead of the old antenna system to receive the DSO signal.
“Once the equipment is installed, viewers can access all available channels across the country without paying any subscription fees,” he stressed
The DG dismissed claims by some retailers that there are different categories of decoders sold at varying prices, stressing that such sellers are not authorised by the commission.
According to him, the NBC will soon publish the list of approved dealers, official prices, and locations where genuine decoder boxes and accessories can be purchased.
The NBC boss said the DSO project is designed not only to improve television broadcasting but also to stimulate economic growth by creating jobs, attracting investment, and opening up opportunities for businesses that support the broadcasting industry.
Ebuebu noted that content producers and broadcasters stand to benefit significantly from the nationwide reach of the DSO platform.
Unlike the previous system, where many stations had limited regional audiences, he said the new platform will make their channels available to viewers across Nigeria.
He added that the introduction of audience measurement technology will provide scientific and reliable data on television viewership.
Ebuebu added that audience measurement technology will give advertisers greater confidence in placing adverts and enable broadcasters to demonstrate the true size and reach of their audiences nationwide.
Uchenna Mbunabo, Nigerian filmmaker, has raised concerns over the alleged unauthorised broadcast of Nollywood films by some Ghanaian television stations, calling on Ghana’s National Film Authority (NFA) to strengthen the enforcement of copyright laws.
Uchenna Mbunabo, Nigerian filmmaker
Mbunabo made the remarks during a conversation with James Gardiner, deputy CEO of the National Film Authority (NFA) of Ghana.
He questioned whether it was permissible for television stations in Ghana to download Nigerian movies from YouTube and air them without obtaining permission from the producers.
“I noticed that Ghanaian TV stations, the way they are stealing our films and showing them for free with impunity. Is it legalised in your country for TV stations to go on YouTube, download people’s sweat and show it for free?”
According to Mbunabo, some Ghanaian television stations have been downloading newly released Nollywood films from YouTube and broadcasting them without authorisation, depriving producers of revenue generated through the platform.
He also stated that he had not witnessed Nigerian television stations engaging in similar practices and questioned what measures Ghana was taking to protect filmmakers’ intellectual property.
Responding to the concerns, Gardiner acknowledged that the issue exists and said the National Film Authority had begun engaging relevant stakeholders to address it.
He disclosed that the NFA has held discussions with the Ministry of Communications, the National Communications Authority (NCA) and the National Media Commission (NMC) on improving copyright enforcement.
Gardiner explained that while Ghana has copyright laws, enforcement remains challenging because many television stations now operate digitally and may not have physical offices within the country.
“There are copyright laws, but they are not effective because a lot of the TV stations don’t have offices. Most of them are now digital, so they operate from anywhere. They can even have a Ghanaian TV station but be operating from Austria simply because it is digital.”
He added that authorities are considering a new licensing framework that would require broadcasters to undergo a fresh licensing process to improve monitoring and enforcement.
According to Gardiner, television stations found guilty of illegally broadcasting copyrighted content would be required to compensate affected producers through fines.
He added that repeat offenders could face suspension of their broadcasting licences, while a third violation could result in the revocation of their licences.
Although he did not provide a specific timeline, Gardiner said the reforms were already underway and expressed hope that significant progress would be seen next year.
Mbunabo welcomed the proposed measures but urged the National Film Authority to expedite the process, stating that unauthorised broadcasts continue to affect filmmakers’ ability to recover production costs through legitimate distribution channels such as YouTube.
He also stressed that his comments were not directed at Ghana’s film industry, noting that he has worked with several Ghanaian actors over the years and supports collaborations between Nollywood and Ghallywood.
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