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| Mr. Wole Adeniyi, CEO of Stanbic IBTC Bank Limited |
At the recent WEMABOD Limited’s Real Estate Outlook 2026, themed “Unlocking Land and Infrastructure for Inclusive Housing: A Regional Agenda for Sustainable Urban Growth,” industry leaders gathered to discuss the future of Nigeria’s housing sector. Among the highlights, Mr. Wole Adeniyi, CEO of Stanbic IBTC Bank Limited, shared exclusive insights on real estate financing, shedding light on opportunities for inclusive housing and practical solutions for developers.
Finance is Available — The Challenge is Bankable Projects
During the panel discussion, Adeniyi emphasized that financing is the easiest part of real estate development. Banks are always ready to provide capital; the challenge lies in ensuring projects are structured and bankable. Using the Standard Bank Group’s retail mortgage portfolio as an example, he showed that its home loans alone exceed the total assets of many Nigerian banks combined, highlighting the scale of available capital.
“This demonstrates that capital exists—the critical factor is having projects structured to attract financing,” Adeniyi explained.
Bridging the Affordability Gap
He highlighted initiatives such as the Renewed Hope Scheme and collaboration with the National Mortgage Refinance Company (NMRC), which allow individuals to access 100 million Naira mortgages at 9.75% over 20 years. On the supply side, Stanbic IBTC provides off-take guarantees to construction projects, reducing investment risk and making affordable housing feasible.
Economic Growth and Policy as Key Drivers
Adeniyi stressed the importance of economic growth and policy support in improving housing accessibility. “Income levels determine affordability. Policies promoting low interest rates and backing real estate development are essential for a sustainable housing market,” he noted.
He praised Nigeria’s current monetary policies, highlighting improvements in inflation control and projected reductions in the Monetary Policy Rate (MPR), which are expected to lower borrowing costs for developers and homeowners.
Practical Takeaways for Developers
From his panel discussion, Adeniyi encouraged real estate developers to:
- Ensure projects are bankable and finance-ready.
- Commit capital upfront to mitigate inflationary pressures on construction costs.
- Leverage structured financing schemes, including NMRC-backed mortgages and off-take guarantees.
He illustrated this with Stanbic IBTC’s four-year construction of its headquarters, completed on time and on budget despite economic fluctuations, demonstrating the effectiveness of committed capital and strategic planning.
Outlook for the Real Estate Sector
Concluding the panel, Adeniyi expressed optimism about Nigeria’s property market: “With low-interest financing, supportive policies, and economic growth, the real estate outlook for 2026 is very positive.” He encouraged developers and investors to capitalize on structured financing and collaborative initiatives in both residential and commercial real estate.
Key Facts at a Glance:
- NMRC-backed mortgages: 100 million Naira, 9.75% interest, 20-year term
- Stanbic IBTC provides off-take guarantees for developers
- Pension funds and institutional investors can invest via mortgage-backed securities
Through a combination of policy, financing, and strategic planning, Nigeria’s housing sector is poised for inclusive growth, creating opportunities for homeowners, developers, and investors alike.