Stanbic IBTC Bank, a member of Standard Bank Group, convened its flagship Home Ownership Summit 2.0 , gathering financial experts, government officials, real estate developers, and policy influencers to address Nigeria’s housing gap and mortgage opportunities. The event, held in Lagos, focused on catalyzing home ownership in Nigeria through inclusive financing, public-private collaboration, and regulatory innovation.
In his welcome address, Mr. Wole Adeniyi, CEO of Stanbic IBTC Bank, underscored the significance of Nigeria’s current economic trajectory as a fertile ground for investment and home acquisition. “Nigeria is at its best position in decades to take bold steps in asset ownership,” he said, citing recent reforms, improving credit ratings, and international investor interest. “With the federal government’s creation of the National Credit Guarantee Company and other reforms, the infrastructure for successful home ownership is being laid down for the first time in Nigeria’s history.”
Adeniyi drew comparisons to global real estate hubs like Riyadh and Dubai and urged Nigerians to see the current climate as an inflection point. “We’ve been upgraded by Moody’s; the World Bank and IMF reports point to promise. Now is the time to own a home, invest, and build wealth.”
Supporting this vision, Olu Delano, Executive Director, Personal and Private Banking, emphasized that Stanbic IBTC is prioritizing housing access as a pathway to financial wellbeing. “In developed economies, up to 70% of the population own homes. Nigeria sits at about 15%. We aim to change that. Home Loan 2.0 is a journey, and Stanbic is committed to walking with Nigerians—public and private sector alike—on that path.”
Delano urged attendees to see housing as more than shelter. “It’s one of the most significant life decisions. It requires planning, process, and the right partners—this is why we’re here.”
The keynote address was delivered by Mr. Femi Adewole, Managing Director of Urban Economics International, who painted a stark but hopeful picture. “In 25 years, Nigeria’s population will exceed 400 million. Lagos alone will house over 45 million people. That’s a housing crisis unless we act now,” he warned.
Adewole highlighted Nigeria’s mortgage-to-GDP ratio at just 0.5% compared to over 20% in mature markets. “We need to move from informal, low-quality housing to structured, affordable home ownership. And for that, we must strengthen the housing value chain—developers, finance, title security, and consumer education. This is where Stanbic IBTC can lead.”
He also flagged a cultural challenge: a general distrust of banks when it comes to mortgage financing. “A 2023 study showed 73% of respondents preferred cooperatives over banks for home finance. That’s a trust gap Stanbic must bridge through education, innovation, and empathy.”
Hon. Moruf Akinderu-Fatai, Lagos State Commissioner for Housing and Special Guest of Honour, emphasized government readiness to collaborate. “Home ownership is not a privilege—it should be a possibility for many. Lagos has delivered over 10,000 homes since 2019, but we need partners like Stanbic IBTC to scale further.”
He acknowledged the state’s growing low-income population and stressed the need for massive, affordable housing investment. “We’re streamlining approvals, offering tax incentives, and encouraging innovative finance models. The private sector must step in. I call on Stanbic IBTC to partner with Lagos State in delivering affordable homes to Lagosians.”
The summit also served as a rallying call for broader structural reforms and innovation in housing finance. Mr. Adewole suggested combining construction finance with end-user mortgages, developing mortgage registries, applying fintech solutions, and tailoring repayment profiles to local income realities.
The event concluded with a panel discussion featuring industry stakeholders exploring paths to deeper mortgage penetration, improved housing quality, and scalable solutions for Nigeria’s diverse housing needs.
Stanbic IBTC’s Home Loan 2.0 aims to expand access to mortgage products and increase home ownership in Nigeria from 0.5% to 5%, a tenfold growth that could reshape the country’s socio-economic landscape.
This is not just a summit—it’s a movement. And we invite all Nigerians to be a part of it.
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