The Federal Mortgage Bank of Nigeria (FMBN) emerged as one of the most celebrated institutions at the 19th Africa International Housing Show (AIHS) 2025, earning widespread commendation from stakeholders for its impactful plenary session and bold new initiatives aimed at deepening affordable homeownership.
Speaking at the well-attended event, Managing Director/Chief Executive, Shehu Usman Osidi, commended AIHS for creating a strategic platform where government, private sector, and development partners converge to address Africa’s growing housing deficit.
He described the Show as “an invaluable space for forging partnerships that drive affordable housing delivery” and reaffirmed FMBN’s commitment to innovative, market-aligned mortgage solutions that meet the needs of diverse categories of Nigerians.
In a major announcement that drew applause from delegates, Osidi revealed that the Bank would roll out three new products, the Non-Interest Mortgage Loan for Nigerians who prefer ethical, interest-free financing models; the NHF Diaspora Mortgage Loan to enable Nigerians abroad to invest in homes back home; and the Rent Assistance Loan designed to help contributors meet annual rent obligations while awaiting homeownership. He described these products as “a direct response to market realities and the everyday housing needs of our people.”
The session also highlighted FMBN’s recent performance milestones. In 2024 alone, the Bank recorded an operational surplus of ₦11.5 billion, its first in over 30 years while growing National Housing Fund (NHF) collections to ₦103 billion. Loan recovery efforts yielded ₦18.9 billion, and project financing commitments included a ₦100 billion offtaker guarantee for the Renewed Hope Housing Programme, ₦27 billion for the Ibeju-Lekki project, and ₦19.9 billion for the Karsana development in Abuja.
The bank also made significant strides in deploying the Core Banking Application, modernizing operations, and strengthening partnerships for project delivery nationwide.
Earlier, Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, commended FMBN’s efforts, acknowledging its achievements in mortgages granted, rent-to-own schemes, home renovation loans, and digital service upgrades. However, he stressed that affordability remains the central challenge and urged the Bank to explore subsidies, flexible repayment models, and tailored products for the informal sector.
The Minister called for an aggressive nationwide sensitization campaign to ensure contributors are aware of their rights and benefits under the NHF Scheme, and directed FMBN to actively participate in the Renewed Hope State-by-State Homeownership Campaign in partnership with state governments.
In addition to the commendations, Industry Stakeholders lauded the Bank’s focus on expanding mortgage access through innovative financing approaches.
Discussions during the session touched on tapping idle funds such as unclaimed dividends into housing bonds, adapting housing designs to local income levels, empowering women as developers, digitizing land titling to reduce fraud, and exploring long-term equity-based housing funds that could bring down interest rates to single digits.
Testimonials further underscored FMBN’s growing credibility. Kano State officials praised the Bank for delivering on long-delayed NHF disbursements within six months, while trade union leaders shared personal accounts of becoming homeowners through the scheme.
Participants also applauded the efficiency of the Bank’s diaspora information system and mortgage, with processing reportedly taking less than five minutes.
As the session concluded, the consensus among participants was clear, FMBN has positioned itself as a critical pillar in Nigeria’s affordable housing drive. With its ambitious new products, operational reforms, and renewed stakeholder confidence, the Bank is poised to play an even greater role in turning the Renewed Hope Agenda into tangible results for millions of Nigerians seeking the dignity and security of homeownership.
By: Prince Folorunsho Adegoke,
News Editor at Housing TV Africa.
