The National Housing Fund is one of the most underused financial tools in Nigeria. Every worker earning at least ₦3,000 per month — whether employed in the public or private sector — is required by law to contribute 2.5% of their basic salary to the fund. That money accumulates over time and can be accessed as a 6% fixed-rate mortgage through the Federal Mortgage Bank of Nigeria. Most people have never tried to access it because nobody walked them through the steps.
To be eligible, you must have been contributing for a minimum of six months and be buying through an accredited estate developer. The maximum loan amount under the standard NHF scheme is ₦15 million, which covers most of MetroGroup's entry-level properties in Ibeju-Lekki, Ajah, Sangotedo, and Karsana. For properties above that ceiling, a top-up can sometimes be arranged. The repayment term goes up to 30 years, which keeps the monthly payment well within what most contributors are already paying in rent.
The process begins with your employer confirming your NHF number and contributions. MetroGroup works directly with the Federal Mortgage Bank on behalf of buyers, handling the application, property valuation, and loan approval paperwork. Most buyers find the process takes between six and twelve weeks from first application to approval. Once approved, the loan is paid directly to the developer and the buyer takes possession. Title is registered in the buyer's name from day one.
If you have been contributing to NHF and have never asked about your balance, start there. Call the Federal Mortgage Bank's customer line or visit a branch and request your contributor statement. The figure is usually higher than people expect. MetroGroup's advisers can help you work out exactly which properties fall within your eligible loan range and what the monthly repayment would look like.
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