Ogun State 15 New Private Estates Renewed Hope Framework Q1 2026 FMBN Subsidies
Ogun State Government has approved 15 new private estates to operate under the Renewed Hope Cities framework in Q1 2026, unlocking access to FMBN’s 9.25% mortgages, infrastructure subsidies (roads, power, water), and Land Use Charge (LUC) exemptions for developers.
The approvals cover over 35,000 plots primarily in high-velocity corridors: Mowe–Ofada, Shimawa, Ijoko, and Sagamu. This move accelerates mid-market housing supply in Ogun, Nigeria’s fastest-growing peri-urban state, by aligning private developers with federal incentives to tackle the national housing deficit.
Full List of Approved Estates (Q1 2026 – Partial Public Disclosure)
- Haven Gardens Phase 3 (Mowe–Ofada) – 4,200 plots
- Royal View Estates (Shimawa) – 3,800 plots
- Emerald Park (Ijoko) – 3,500 plots
- Greenfield Residency (Sagamu) – 3,200 plots
- Sunrise Haven (Mowe) – 2,900 plots
- Oasis Valley (Ofada) – 2,700 plots
- Harmony Gardens (Shimawa) – 2,500 plots
- Primeview Estates (Ijoko) – 2,400 plots
- EcoLiving Phase 2 (Sagamu) – 2,300 plots
- New Horizon Residences (Mowe) – 2,200 plots 11–15. Smaller schemes (1,500–2,000 plots each) in Shimawa, Ijoko & Sagamu – total ~8,000 plots
Eligibility Benefits for Developers & Buyers
For Developers
- Access to FMBN Renewed Hope mortgages at 9.25% fixed (first 5 years)
- Infrastructure subsidies (roads, power lines, water) up to 40% of cost
- LUC exemptions or rebates (50–100% for solar-ready/green-certified projects)
- Faster approval timelines via state-federal alignment
For Buyers
- Eligible for FMBN mortgages (max ₦65M in 2026) with 10–30% equity
- Units priced ₦25M–₦60M (2–3 bedroom flats/terraces)
- Solar-ready standard in most estates → lower utility costs
- Title security: C of O issued post-completion
Expected Unit Pricing & Land Price Impact
- Unit pricing: ₦25M–₦45M (2-bed), ₦40M–₦60M (3-bed) – 10–20% below open-market equivalents due to subsidies
- Land price impact:
- Mowe–Ofada: +18–32% since Q4 2025 (plots ₦18M–₦38M)
- Shimawa: +20–35%
- Ijoko: +15–28%
- Sagamu: +12–25%
- Rental outlook: Solar-ready units expected to rent at 15–24% premium
Final Thoughts
Ogun’s approval of 15 new private estates under Renewed Hope in Q1 2026 is a major supply-side catalyst for mid-market housing in the Lagos-Ogun corridor.
For buyers: subsidized financing + solar-ready features make these estates strong value plays. For investors/developers: faster approvals & incentives reduce risk — position early in Mowe–Ofada, Shimawa, and Ijoko.
Which approved estate or corridor are you most interested in? Share your thoughts below!
Disclaimer: This information is for general purposes only and not legal advice. Consult a qualified real estate lawyer for guidance.
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