The Federal Mortgage Bank of Nigeria (FMBN) says it has delivered 6,911 affordable housing units, achieving 96 per cent of its annual target of 7,200 homes under the 2025 Presidential and Ministerial Deliverables.
The bank also disclosed that it approved more than ₦208 billion in housing and mortgage loans during the period under review, with over ₦120 billion disbursed to support housing construction, mortgage financing, home renovation, cooperative housing and Rent-to-Own initiatives.
The Managing Director of FMBN, Shehu Usman Osidi, disclosed the figures while speaking at the 2026 World Habitat Day and World Cities Day event in Abuja.
Osidi reaffirmed the bank’s commitment to expanding access to decent and affordable housing for Nigerians, describing homeownership as a key objective of the institution.
As Nigeria’s mortgage institution and custodian of the National Housing Fund (NHF), he said the bank remained committed to its guiding belief that “Everyone Deserves a Home”.
FMBN Highlights Role In Sustainable Urban Development
Osidi said the global observance of Urban October provided an opportunity to reflect on the challenges and opportunities associated with rapid urbanisation.
He noted that the initiative, led by UN-Habitat, also encouraged stakeholders to strengthen efforts towards building resilient, inclusive and sustainable cities.
According to him, FMBN has facilitated thousands of mortgages since its establishment, helping Nigerians access homeownership and decent accommodation.
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 urbanisation challenges.
Bank Expands Housing Finance Products
The FMBN managing director said the bank was continuously reviewing and expanding its interventions to respond to Nigerians’ changing housing needs.
He identified the Rent-to-Own Scheme, Home Renovation Loans, NHF Diaspora Mortgage Loan and Non-Interest Mortgage Financing initiatives as part of the bank’s efforts to widen access to housing finance.
Osidi said these programmes were designed to create more pathways for Nigerians to obtain affordable homes while strengthening the bank’s role in housing delivery.
He added that the bank had formally launched the Diaspora NHF Mortgage Loan to enable Nigerians living abroad to invest in affordable housing in Nigeria.
The initiative is intended to provide members of the diaspora with another route to homeownership while supporting housing investment in the country.
FMBN Announces Non-Interest Mortgage And Rent Assistance Products
Osidi also announced plans to commence two additional products: Non-Interest Mortgage Financing and a Rent Assistance Product.
According to him, the non-interest mortgage product is designed for National Housing Fund contributors who prefer ethical financing options.
The Rent Assistance Product, meanwhile, is intended to ease rental payment pressures on federal civil servants and provide a bridge towards eventual homeownership.
The bank said it would continue collaborating with relevant stakeholders to expand access to housing finance and support the delivery of affordable homes across Nigeria.
FMBN’s reported delivery of 6,911 housing units represents progress towards its 2025 target. However, the long-term impact of its housing interventions will also depend on affordability, access to financing and the ability of eligible Nigerians to benefit from the programmes.
