The Federal Mortgage Bank of Nigeria has financed 1,590 housing units across Nasarawa State and disbursed more than N9.5 billion in home renovation loans to 10,601 civil servants as part of efforts to expand access to affordable housing in the state.
Managing Director and Chief Executive Officer of FMBN, Shehu Osidi, disclosed this while receiving Nasarawa State Governor, Abdullahi Sule, during a courtesy visit to the bank’s headquarters in Abuja.
Osidi said the interventions reflect the bank’s growing partnership with the Nasarawa State Government to improve housing delivery and enhance workers’ welfare through affordable mortgage financing.
“To date, the Federal Mortgage Bank of Nigeria has financed over 1,590 housing units across Nasarawa State. Beyond housing construction, we have disbursed over N9.5 billion in home renovation loans to 10,601 civil servants in the state, enabling thousands of hardworking families to improve the quality of their homes,” he said.
The FMBN boss disclosed that the bank is also financing mortgages for Nasarawa civil servants to purchase homes under the state government’s Owner-Occupier Housing Scheme.
According to him, N94.7 million has so far been disbursed to 29 beneficiaries under the programme, while more than N1.02 billion in National Housing Fund contributions has been refunded to 5,462 retirees from the state.
He noted that the partnership between FMBN and Nasarawa extends beyond housing construction, adding that work at the Lafia housing project has reached an advanced stage, while construction at other first-phase project locations will begin before the end of the third quarter of the year.
Osidi reaffirmed the bank’s commitment to President Bola Tinubu’s Renewed Hope Housing Programme, revealing that FMBN is financing housing projects nationwide and providing a N100 billion off-taker guarantee to accelerate project delivery.
He also highlighted the bank’s recent operational performance, stating that National Housing Fund collections increased from N103 billion in 2024 to a record N152.4 billion in 2025, representing more than 48 per cent growth over the previous highest annual collection.
The FMBN chief executive added that over 300,000 new contributors had joined the NHF scheme in the last two years, while NHF refunds rose from N13.2 billion paid to 40,426 beneficiaries in 2023 to N15.6 billion paid to 55,068 beneficiaries in 2025.
He further disclosed that the bank financed 6,911 affordable housing units nationwide in 2025, achieving 96 per cent of its annual target of 7,200 housing units.
Describing Nasarawa as one of FMBN’s strongest housing development partners, Osidi recalled that the state became the first in the country to allocate land for the Renewed Hope Housing Project after President Tinubu assumed office.
Governor Sule commended FMBN for supporting the state’s housing development agenda, describing the bank as a dependable partner committed to improving access to affordable housing.
“When you asked me to consider the Federal Mortgage Bank of Nigeria as a dependable partner, I want to tell you we already consider you a dependable partner. We already believe there is much more we can do together,” the governor said.
Sule disclosed that the establishment of the Nasarawa Geographic Information Service had positioned the state for large-scale housing development by completing statewide mapping, identifying suitable development corridors and planning the infrastructure required for housing projects.
He said the state is already working with several developers on projects, including the Peninsula Housing Project in Masaka and the Technology Village in Mararaba.
The governor added that ongoing collaboration with FMBN would deliver affordable housing projects in Lafia, Akwanga, Keffi, Toto and Gudi, particularly for low- and middle-income earners.
Speaking on the proposed N550 billion recapitalisation of FMBN, Sule urged the Federal Government to attract private sector investment into the bank.
“If we want to achieve this goal, we need to go beyond the federal government. There are many Nigerians and institutions with investible funds that will support the bank if they are convinced the resources will be well managed,” he said.
