By Kingsley Adegboye

The Federal Mortgage Bank of Nigeria (FMBN) emerged as one of the highlights of the 19th Africa International Housing Show (AIHS) 2025, earning widespread commendation for its impactful plenary session and new initiatives aimed at expanding affordable homeownership.

Managing Director/Chief Executive, Shehu Usman Osidi, lauded the AIHS as a vital platform for government, private sector, and development partners to address Africa’s housing challenges. He reaffirmed the Bank’s commitment to innovative, market-aligned mortgage solutions that meet the needs of Nigerians at different income levels.

In a major announcement, Osidi unveiled three new products — the Non-Interest Mortgage Loan for Nigerians seeking ethical, interest-free financing, the NHF Diaspora Mortgage Loan to enable Nigerians abroad to invest in homes locally, and the Rent Assistance Loan designed to help contributors meet annual rent obligations while working towards homeownership. He described these products as “a direct response to market realities and the everyday housing needs of our people,” drawing applause from delegates.

FMBN also showcased its 2024 milestones, including a ₦11.5 billion operational surplus — its first in over three decades — NHF collections of ₦103 billion, ₦18.9 billion in loan recoveries, and major project financing commitments such as ₦100 billion for the Renewed Hope Housing Programme, ₦27 billion for Ibeju-Lekki, and ₦19.9 billion for Karsana, Abuja.

The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, commended FMBN for its achievements in mortgages, rent-to-own schemes, and digital upgrades. He urged the Bank to address affordability through subsidies, flexible repayment options, and targeted products for the informal sector, while calling for greater public sensitization on NHF benefits.

Stakeholders at the session also discussed strategies such as tapping idle funds into housing bonds, tailoring housing designs to local incomes, empowering women developers, digitizing land titling, and creating long-term equity-based housing funds to reduce interest rates.

Testimonials reinforced FMBN’s growing credibility, with Kano State officials praising faster NHF disbursements and trade union leaders sharing success stories of homeownership. Participants also lauded the efficiency of the Bank’s diaspora mortgage processing system.

By the session’s close, there was broad agreement that FMBN is becoming a central driver in Nigeria’s affordable housing agenda — with its new products, operational reforms, and strengthened stakeholder confidence positioning it to deliver even greater results under the Renewed Hope Agenda.