The Federal Mortgage Bank of Nigeria (FMBN) says it approved more than N208 billion in housing and mortgage loans and financed 6,911 affordable housing units in 2025.
FMBN managing director, Shehu Osidi, disclosed this on Monday at the 2026 World Habitat Day and World Cities Day commemoration in Abuja, organised by the Federal Ministry of Housing and Urban Development.
Osidi said the 6,911 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 disbursed more than N120 billion during the period to support housing construction, mortgage financing, home renovation, cooperative housing and rent-to-own initiatives.
Osidi said FMBN was expanding its housing finance options through products such as the Rent-to-Own Scheme, Home Renovation Loans, NHF Diaspora Mortgage Loan and Non-Interest Mortgage Financing.
He said the bank had inaugurated the Diaspora NHF Mortgage Loan to enable Nigerians living abroad to invest in affordable housing in the country.
He also announced plans to begin implementing the Non-Interest Mortgage and Rent Assistance products before the end of October. The former is designed for National Housing Fund contributors seeking ethical financing options, while the latter is expected to ease rent payments for federal civil servants and provide a pathway to homeownership.
Osidi said the bank would continue working with the housing ministry and other stakeholders to expand access to housing finance.
Earlier, the national president of the Nigerian Institute of Town Planners, Ogbonna Chime, called for coordinated action to address Nigeria’s housing deficit, informal settlements and inadequate urban infrastructure.
Represented by the institute’s second national vice-president, Garba Jibrin, Chime said tackling the challenges required effective physical planning, sound land management, infrastructure provision and urban regeneration, beyond constructing housing units.
He called for stronger collaboration among governments, professional bodies, the private sector, academia and local communities to promote sustainable urban development.
Chime also urged stakeholders to incorporate climate action, urban resilience and youth-led initiatives into housing and infrastructure planning.
