FMBN Finances 6,911 Housing Units, Falls Short Of 2025 Target—MD

The Federal Mortgage Bank of Nigeria (FMBN) financed 6,911 affordable housing units and approved over N208bn in housing and mortgage loans in 2025, achieving 96 per cent of its annual target of 7,200 units.

The bank also disbursed over N120bn during the period to support housing construction, mortgage financing, home renovation, cooperative housing and Rent-to-Own initiatives.

The Managing Director and Chief Executive of FMBN, Shehu Usman Osidi, disclosed this on Monday in Abuja during the commemoration of the 2026 World Habitat Day and World Cities Day.

Osidi said the achievements underscored the bank’s role in promoting access to affordable housing for Nigerians.

He reaffirmed FMBN’s commitment to expanding housing finance options through initiatives such as the Rent-to-Own Scheme, Home Renovation Loans, NHF Diaspora Mortgage Loan and Non-Interest Mortgage Financing.

According to him, the bank has formally launched the Diaspora NHF Mortgage Loan to enable Nigerians living abroad to invest in affordable housing in the country.

He added that FMBN would commence the implementation of its Non-Interest Mortgage Product before the end of October to cater to contributors who prefer ethical financing options.

Osidi also announced plans to commence the Rent Assistance Product, designed to ease the burden of rent payments on Nigerian federal civil servants while providing a bridge towards eventual homeownership.

He said the initiatives reflected the bank’s commitment to broadening the pathways through which Nigerians could access decent and affordable homes.

The FMBN managing director, who described the institution as Nigeria’s foremost mortgage institution and custodian of the National Housing Fund, said its interventions were guided by the belief that “Everyone Deserves a Home.”

He commended the Federal Ministry of Housing and Urban Development for its leadership in advancing the national housing agenda and aligning Nigeria with the global call to address the challenges and opportunities of rapid urbanisation.

Osidi said FMBN would continue to collaborate with the ministry and other stakeholders to expand access to housing finance and support the delivery of affordable homes.

He called on stakeholders to renew their commitment to building resilient, inclusive and sustainable cities, stressing that adequate housing should not be a privilege but a right.