Qshelter, M.I. Okoro & Associates Seal MOU to Boost Marketing of Renewed Hope Housing Estates

Bennett Oghifo

In a move aimed at strengthening the delivery and marketing of affordable housing under the Federal Government’s Renewed Hope Housing Estates initiative, QShelter Limited yesterday signed a Real Estate Agency and Marketing Memorandum of Understanding (MOU) with M.I. Okoro & Associates, a foremost firm of estate surveyors and valuers.

The joint press briefing and signing ceremony, held in Abuja on Tuesday, December 30, 2025, brought together key stakeholders in Nigeria’s housing and finance ecosystem, including the Chairman of QShelter Limited, Mr. Kola Sowande; President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Victor Alonge; Group Managing Director of Access Holdings Plc, Mazi Innocent C. Ike; the Chief Operating Officer of QShelter, Mr. Adegbenga Alamu; and the Principal/CEO of M.I. Okoro & Associates, Dr. Chief Innocent Mechson Okoro.

Also present were directors and board members of QShelter, the Chief Commercial Officer of the company, Mr. Oludare Makinde, senior management and staff of both organisations, and members of the press.

Addressing journalists, the QShelter chairman said the MOU would guide the collaboration between the two firms in the marketing of various housing units being delivered by QShelter as sole agent under the Renewed Hope Housing Estates in Abuja, Kano and along the 2004 Coastal Road corridor in Lagos.

He noted that the partnership was aligned with the Federal Government’s housing agenda under President Bola Ahmed Tinubu, describing the Renewed Hope Housing Policy as a long-overdue intervention in Nigeria’s chronic housing deficit.

“Housing is one of the basic needs of man, alongside food and clothing. Yet, for decades, Nigeria paid insufficient attention to housing delivery,” he said. “The Renewed Hope Housing Policy is a decision in the right direction, particularly as it targets the middle class and is supported by innovative funding mechanisms.”

Sowande highlighted the Federal Mortgage Bank of Nigeria (FMBN) National Housing Fund (NHF) mortgage and rent-to-own schemes, which offer interest rates of six and seven per cent respectively, with mortgage tenures of up to 30 years and access of up to ₦50 million per subscriber. He also referenced the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), under which ₦250 billion has been earmarked for disbursement to Nigerians seeking homeownership at a mortgage rate of 9.75 per cent, with up to ₦100 million per beneficiary.

According to him, these interventions, if sustained, could significantly reduce Nigeria’s housing deficit within the lifespan of the Tinubu administration, while also generating employment across the construction value chain.

QShelter’s Role and Track Record

Providing background on the company, QShelter Limited was described as an emerging leader in digital real estate and housing finance in Africa, leveraging technology to connect developers, buyers and mortgage providers on a single platform. Through partnerships with institutions such as FMBN and several primary mortgage banks, QShelter facilitates access to affordable housing through NHF, rent-to-own and other sustainable financing options.

The company also partners with pension fund administrators, including Access ARM Pension Fund, Leadway Pension and Stanbic IBTC Pension Managers, while recently onboarding Providus Bank and FirstBank of Nigeria as partner institutions.

QShelter’s portfolio of completed projects includes the Main Tejuosho Shopping Complex in Yaba, Lagos; a 100,000-ton agricultural storage silo project in Ekiti State; a two-million-ton cement bagging plant in Lagos; a steel pedestrian bridge for the Lagos State Government; and the 132kV Ikorodu–Odogunyan–Sagamu transmission line in Ogun State. Ongoing projects include housing developments at Army Command Estate and the Renewed Hope Cities and Estates in Karsana, Abuja, Janguza in Kano State, and the 2004 Estate Monastery along the Coastal Road in Sangotedo, Lagos.

The Renewed Hope City in Karsana, Abuja, covers 53 hectares and is projected to deliver up to 2,800 housing units, with flexible payment options including outright purchase, instalment plans and NHF-backed mortgages. In Kano, the Renewed Hope City in Janguza spans approximately 67 hectares, with a planned capacity of about 2,000 housing units across multiple phases, offering bungalows, terraces and duplexes.

The Coastal Road Sangotedo project in Lagos is expected to deliver thousands of housing units with proximity to Victoria Island, Novare Mall, the Lagos–Calabar Coastal Road, and proposed transport infrastructure.

A Strategic Marketing Partnership

Introducing QShelter’s new partner, Sowande described M.I. Okoro & Associates as a “vintage and celebrated” real estate consultancy with over 30 years of industry experience. He praised Dr. Okoro as a Fellow of the Nigerian Institution of Estate Surveyors and Valuers, the Chartered Institute of Directors, Nigeria, and the Society of Construction Industry Arbitrators, noting his extensive professional exposure and contribution to public education on real estate through the long-running NTA programme, Real Estate AM Express.

“The Board and Management of QShelter are proud to present Dr. Chief M.I. Okoro as our estate agency and marketing partner,” he said, urging the media to support the collaboration in promoting the Renewed Hope Estates nationwide.

Global Outreach and Diaspora Engagement

Both firms disclosed plans to extend marketing efforts to Nigerians in the diaspora through international exhibitions and strategic engagements. These include participation in a building exhibition in Liverpool during the Nigerian–UK Golfing Association tournament, collaboration with Access Bank Plc around its London polo event in 2026, and representation at the OTC World Oil Institutions Conference in Houston, United States.

The initiative, they said, is aimed at ensuring that Nigerians at home and abroad benefit from the Renewed Hope Housing programme, regardless of location.

Okoro’s Policy Recommendations

In his professional input to the Federal Government, Dr. Okoro commended the Renewed Hope Housing initiative and its associated mortgage funding framework but stressed the need for sustainability beyond the current administration. He called for improved land allocation, government-led infrastructure provision to reduce housing costs, incorporation of renewable energy solutions such as solar power, and stronger regulatory oversight of mortgage disbursement to prevent past failures.

He also emphasised the importance of clean land titles for mortgage viability, discouraged speculative purchases by government officials, and advocated for tax incentives and employer-supported housing schemes to help workers access homes early in their careers.

According to him, expanding the Renewed Hope Housing strategy across all states and local governments would increase housing supply, moderate prices, and generate steady revenue for governments through land use charges and ground rents.

As the briefing drew to a close, the organisers expressed confidence that the QShelter–M.I. Okoro partnership would redefine estate agency practice and marketing in Nigeria, while accelerating access to decent and affordable housing under the Renewed Hope agenda.