FMBN Delivers Over 9,000 Housing Units in Two Years, Expands Affordable Housing Drive
Federal Mortgage Bank Delivers 9,076 Housing Units, Boosts Construction Financing
The Federal Mortgage Bank of Nigeria (FMBN) has financed 9,076 housing units between 2024 and 2025, reinforcing its role in expanding access to affordable housing across the country. The bank also recorded substantial growth in construction financing and mortgage disbursements during the period as it intensified efforts to support low-income earners, informal sector workers and property developers.
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The announcement was made by the Managing Director and Chief Executive of FMBN, Shehu Usidi Osidi, during FMBN Day at the Africa International Housing Show (AIHS) 2026 in Abuja. He said the bank remains committed to expanding housing finance through stronger partnerships with government institutions, private developers, mortgage banks and cooperative societies.
Affordable housing delivery gains momentum
According to Osidi, financing more than 9,000 housing units over the past two years reflects FMBN's continued investment in addressing Nigeria's housing deficit through affordable housing programmes.
He noted that many Nigerians, particularly workers in the informal sector, continue to face significant barriers to homeownership because they cannot meet the high equity contributions required under conventional mortgage systems.
The bank, he said, is therefore designing mortgage products that better reflect the income realities of low- and middle-income households, enabling more Nigerians to access homeownership opportunities.
Construction financing records significant growth
Beyond housing delivery, FMBN reported a sharp increase in financing provided to developers constructing affordable housing projects.
According to the bank, project loan disbursements increased from ₦31.5 billion in 2024 to ₦79 billion in 2025, representing one of the highest levels of construction financing in the institution's history. The increased funding is intended to accelerate housing development, improve project delivery and expand the supply of affordable homes nationwide.
The bank said stronger support for credible developers remains central to its strategy of increasing housing stock while encouraging greater private sector participation in residential construction.
Mortgage disbursements reach record level
FMBN also reported record mortgage lending during the review period.
According to Osidi, the bank disbursed ₦13.8 billion to 15,290 beneficiaries in 2025, representing an 86 per cent increase over the previous year. The institution also strengthened its National Housing Fund (NHF) refund process, improving access to contributors' funds and enhancing customer service.
The increased mortgage activity reflects broader efforts to improve access to housing finance and expand homeownership opportunities for eligible Nigerians.
Partnerships remain central to housing finance
Speaking at the Africa International Housing Show, Osidi described collaboration as essential to addressing Nigeria's housing challenges.
He said government alone cannot bridge the country's housing deficit and emphasised the importance of partnerships involving state governments, organised labour, cooperative societies, private developers, Primary Mortgage Banks and professional associations.
According to him, coordinated efforts across the housing ecosystem will be necessary to develop innovative financing solutions capable of reaching underserved segments of the population, particularly informal workers with irregular income patterns.
Wider economic impact
Beyond increasing housing supply, FMBN noted that its investments have generated broader economic benefits.
Housing construction supports employment across multiple segments of the economy, including architects, engineers, quantity surveyors, artisans, building material suppliers, transport operators and small businesses involved in the construction value chain.
The bank stated that sustained investment in affordable housing contributes not only to improved homeownership but also to job creation and economic activity within Nigeria's real estate and construction sectors.
Affordable housing remains a national priority
Nigeria continues to face a significant housing deficit, with affordability and access to long-term mortgage finance remaining major challenges for many households.
Institutions such as FMBN play a central role in bridging this gap by providing low-cost housing finance and supporting developers building homes targeted at low- and middle-income earners. The bank's recent performance demonstrates continued efforts to strengthen mortgage accessibility while increasing the supply of affordable residential developments across the country.
Outlook
FMBN's delivery of 9,076 housing units and record levels of construction and mortgage financing underscore the institution's expanding role in Nigeria's affordable housing sector. As the bank deepens collaboration with developers, mortgage institutions and government agencies, continued investment in housing finance is expected to support increased homeownership, stimulate residential construction and contribute to addressing Nigeria's long-standing housing deficit.
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