AKINWALE ABOLUWADE
The Federal Mortgage Bank of Nigeria (FMBN) and TIMIK Engineering have announced plans to collaborate with the University of Ibadan (UI) in addressing long-standing housing challenges faced by the institution’s staff.
This was disclosed during a sensitisation programme held on Monday in Ibadan, where stakeholders discussed the Ajoda Federal Housing Authority Housing Scheme and the role of the National Housing Fund (NHF) in providing affordable homeownership opportunities for civil servants.
Juliet Olobio, Head of Operations at NHF, said the initiative is aimed at enlightening UI staff on available housing options, allocation procedures, and mortgage processing. She noted that the programme was also designed to resolve concerns previously raised by members of the institution regarding the NHF scheme.
Olobio highlighted several products under the scheme, including the NHF Mortgage Loan, Home Renovation Loan, Rent-to-Own Scheme, and Cooperative Housing Development Loan, all tailored to enable contributors access homes at single-digit interest rates.
Dr. Mike Anjorin, Group Managing Director of TIMIK and WOODSTON Engineering, also spoke at the event. He revealed that his company, in partnership with FMBN and UI, plans to deliver between 50 and 100 housing units within six months.
“We’ve begun profiling eligible staff to assess their preferences and determine appropriate loan structures that can span from 15 to 30 years,” Anjorin said. “We are also working closely with the UI management and Housing Committee to ensure seamless implementation.”
Anjorin explained that the visit also allowed staff to resolve issues related to NHF subscriptions and mortgage remittances. He noted that many have since subscribed and will be profiled for immediate participation.
He added that infrastructure work at the Ajoda site is already underway, including nearly a kilometre of perimeter fencing, road construction, and street lighting. “Our progress has drawn attention from both local and international stakeholders, but our focus remains on providing institutional housing solutions that can help reduce brain drain.”
Speaking at the event, the Vice-Chancellor of UI, Prof. Kayode Adebowale, described the session as timely and essential for addressing staff concerns about housing.
He emphasised that providing adequate and affordable housing is crucial to boosting productivity, enhancing staff welfare, and improving staff retention in the university system.
“Housing affects not just welfare but also recruitment, teaching, research, and the overall services we deliver to the nation,” Adebowale said.
He called on FMBN to fast-track loan approvals and create dedicated NHF funding streams for federal universities, with housing packages tailored to both academic and non-academic staff income levels.
Adebowale expressed confidence that the partnership would significantly reduce the housing deficit among UI personnel and strengthen the institution’s ability to attract and retain top talent.
