Applications for Land and Housing Loans are invited from eligible members of staff under the Staff Home Ownership Support Scheme for the purpose of:
(i) Building a house
(ii) Purchasing or redeeming an existing mortgage on a house
(iii) Purchasing or redeeming an existing mortgage on a piece of land with or without a building.
- LOAN ENTITLEMENT
a. HOUSING LOAN
(i) Senior Staff: The loan shall not exceed Ten Million Naira (N10, 000,000.00) or ten (10) years basic salary of staff whichever is less, for building, purchasing or redeeming of an existing mortgage on a house.
(ii) Junior Staff: The loan shall not exceed Five Million Naira (N5, 000,000.00) or ten (10) years basic salary of staff whichever is less, for building, purchasing or redeeming of an existing mortgage on a house.
b. LAND LOAN
(i) Senior Staff: The loan for the purchase of land shall not exceed Five Million Naira (N5, 000,000.00) or the Applicant’s four (4) years basic salary, whichever is less.
(ii) Junior Staff: The loan for the purchase of land shall not exceed Two Million, Five Hundred Thousand Naira (N2, 500,000.00) or the Applicant’s four (4) years basic salary, whichever is less.
c. No loan shall be approved for erecting or purchasing house and land at the same time.
d. Staff who have previously obtained Land Loan shall not be eligible to apply for another Land Loan.
e. Staff who has previously obtained Land Loan may subsequently apply for Housing Loan, subject to the conditions stated below and satisfying all other conditions of the Scheme:
(i) The previous loan has been fully liquidated and
(ii) The application is made not less than one (1) year after full repayment of the initial loan.
f. Staff who has previously obtained Housing Loan but has not yet completed the housing project may apply for another Housing Loan, subject to such conditions as stated below:
(i) The previous loan has been fully liquidated;
(ii) The application is made not less than one (1) year after full repayment of the initial loan; and
(iii) The staff provides convincing evidence that the initial loan was applied towards the intended housing project and that the project remains incomplete.
g. All such applications of staff who have previously benefitted in the scheme shall be considered subject to the availability of funds and only after fresh applicants have been duly considered, or where there are no fresh applications pending, to ensure equitable access and prevent repeated benefits while others have not yet benefitted.
2. ELIGIBILITY CLAUSE
Confirmed staff who have put in not less than ten (10) years in the Public Service of which at least five (5) must have been spent in the University of Lagos shall be eligible to apply. A loan shall not be approved for Applicants on leave of absence.
Any Staff who had previously obtained Land Loan and has fully paid up shall be eligible to apply for Housing Loan.
3. DOCUMENTS AND OTHER REQUIREMENTS FOR HOUSING LOAN
a. Applicants should submit to the Committee original copies of the Title documents, e.g.
(i) Deed of Conveyance
(ii) Certificate of Occupancy or
(iii) Stamped Purchase Agreement and Receipt together with Proof of Ownership.
(iv) Provisional Letter of Allocation emanating from recognised Government Agency or a Cooperative Society within the University.    Â
b. Approved Survey and Building Plans.
c. Two (2) most current pay slips.
4. For housing loan, preference shall be given to Applicants who do not live in the University’s staff quarters.
5. Applicants who have less than five (5) years to retirement shall not be eligible.
6. Applicant’s net monthly pay, after all deductions arising from loans and other indebtedness, shall not be less than thirty – three percent (33%) of the Applicant’s gross monthly salary.
7. DOCUMENTS REQUIRED FOR LAND LOAN
a. Every applicant must submit the following:
(i) Letter of Allocation from Government or a registered and accredited Estate Development Firm; or
(ii) Documents evidencing the Vendor’s intention to sell the land, such as invoice or Letter of Allocation of land issued by any recognised Staff Union or Cooperative Society within the University or
(iii) Family Receipt for purchase of Family Land
b. Two (2) most current pay slips.
8. REPAYMENT PERIOD
Repayment period shall not be more than five (5) years.
There shall be a service charge of 3% per annum on any loan granted under this scheme and every loan shall be repaid by equal monthly instalments within the period of sixty (60) months. The maximum loan repayment period shall be sixty (60) months to the age of 65/70 years (whichever is applicable).
Interested members of staff should please:
- Click http://unilag.edu.ng/wp-content/uploads/2026/11/SHOC-Loan-Form-2026.pdf for the 2026 Staff Home Ownership Scheme Application Form; and
- Fill and submit completed Application Form along with required documents to the Secretary, Staff Home Ownership Committee, c/o Legal Services Unit, 4th Floor, Senate House, UNILAG.
- Contact the Secretary, Staff Home Ownership Committee via: oadisa@unilag.edu.ng for further information and enquiries on the scheme.
