FMBN Finances 6,911 Affordable Homes as Loan Approvals Exceed ₦208bn
The Federal Mortgage Bank of Nigeria (FMBN) says it approved more than ₦208 billion in housing and mortgage loans and financed 6,911 affordable housing units in 2025.
The bank’s Managing Director and Chief Executive Officer, Shehu Osidi, disclosed the figures during the 2026 World Habitat Day and World Cities Day commemoration in Abuja on Monday. The event was organised by the Federal Ministry of Housing and Urban Development.
Osidi said the 6,911 housing units represented 96 per cent of the bank’s annual target of 7,200 units under the 2025 Presidential and Ministerial Deliverables.
He added that the bank approved more than ₦208 billion in housing and mortgage loans during the year, while over ₦120 billion was disbursed to support housing construction, mortgage financing, home renovation, cooperative housing and Rent-to-Own initiatives.
According to him, the results demonstrate FMBN’s contribution to expanding access to affordable housing for Nigerians.
As the country’s foremost mortgage institution and custodian of the National Housing Fund (NHF), Osidi said the theme of the commemoration, “Adequate Housing for All,” reflected the bank’s commitment to ensuring that more Nigerians have access to decent homes.
He noted that FMBN had facilitated thousands of mortgages since its establishment, helping Nigerians pursue homeownership.
FMBN Expands Housing Finance Products
Osidi said the bank was broadening its housing finance interventions to respond to the changing needs of Nigerians.
Among the products supporting this effort are the Rent-to-Own Scheme, Home Renovation Loans, NHF Diaspora Mortgage Loan and Non-Interest Mortgage Financing.
He disclosed that FMBN had formally inaugurated its Diaspora NHF Mortgage Loan, which is designed to enable Nigerians living abroad to invest in affordable housing in the country.
The bank also plans to begin implementing its Non-Interest Mortgage Product and Rent Assistance Product before the end of October 2026.
According to Osidi, the non-interest mortgage option is intended for NHF contributors who prefer ethical financing arrangements.
The Rent Assistance Product, meanwhile, is expected to ease the burden of rental payments for federal civil servants while providing a possible pathway towards eventual homeownership.
He reaffirmed the bank’s commitment to working with the Federal Ministry of Housing and Urban Development and other stakeholders to improve access to housing finance and support the delivery of affordable homes.
Osidi also called for collective action to develop inclusive, resilient and sustainable cities where adequate housing is accessible to all.
Town Planners Call for Coordinated Urban Development
Earlier, the National President of the Nigerian Institute of Town Planners (NITP), Dr Ogbonna Chime, urged stakeholders to take coordinated action to address Nigeria’s housing deficit, informal settlements and inadequate urban infrastructure.
Chime, who was represented by the institute’s Second National Vice-President, Dr Garba Jibrin, said the theme of the commemoration highlighted the importance of affordable and inclusive housing alongside the development of functional, resilient and liveable cities.
He stressed that resolving the country’s housing challenges required more than constructing additional housing units.
According to him, effective physical planning, sound land management, infrastructure provision, urban regeneration and appropriate development control were equally important to achieving sustainable results.
Chime said urban and regional planning professionals had a strategic responsibility to guide urban growth, coordinate land use and ensure housing development was integrated with transportation, environmental management and essential public services.
He called for stronger cooperation among the three tiers of government, professional bodies, the private sector, academic institutions and local communities to advance sustainable urban development.
The NITP president also urged stakeholders to give greater attention to youth-led initiatives, climate action and urban resilience.
He said young people should be empowered to contribute innovative ideas and practical solutions to urban development challenges.
Chime further emphasised that climate considerations needed to be incorporated into housing delivery, urban regeneration and infrastructure development.
He urged stakeholders to translate the outcomes of the World Habitat Day and World Cities Day commemoration into practical policies, coordinated programmes and measurable interventions that would improve access to housing and the quality of urban life.
