The Managing Director of Federal Mortgage Bank of Nigeria, FMBN, Shehu U. Osidi has stated that they have worked assiduously to finance over 9,076 housing units between 2024 and 2025, leveraging for sustainable affordable housing for low-income and informal workers in the country.

Osidi who spoke at FMBN Day at the Africa International Housing Show (AIHS) in Abuja, saying, it has become a unique opportunity for them to reflect on our progress, exchange ideas and collectively chart a sustainable path towards expanding access to affordable housing for Nigerians.

The Managing Director argued that the platform has evolved into one of the most important engagements for constructive dialogue between the Bank and stakeholders across Nigeria’s housing finance ecosystem,yet these Nigerians deserve decent homes.

“Many cannot accumulate the sizeable equity contributions required to access traditional mortgage finance. Ironically, these are the very Nigerians who contribute immensely to national productivity yet remain the most financially excluded from formal housing finance systems.”

He explained that they deserve access to affordable mortgage products designed around their realities rather than around conventional banking assumptions, adding, unfortunately, this challenge cannot be solved by government alone.

The MD therefore expressed their profound appreciation to the organisers of the Africa International Housing Show for once again providing this respected platform that continues to promote collaboration and knowledge sharing within Africa’s housing sector.

“We shall continue to strengthen our partnerships with governments at all levels, organised labour, cooperative societies, private developers, primary mortgage banks and professional associations.However,many Nigerians have irregular income patterns.”

Osidi further explained that they have significantly expanded support to credible developers undertaking affordable housing projects across the country, adding, project loan disbursements increased from ₦31.5 billion in 2024 to ₦79 billion in 2025, representing one of the highest levels of construction financing ever provided by the Bank.

“In 2025,we disbursed a record ₦13.8 bn to15,290 beneficiaries, representing an 86 per cent increase over the previous year.We also strengthened our commitment to contributors by improving the efficiency of NHF refunds.”

He concluded, beyond the numbers, these investments represent thousands of jobs created for artisans, engineers, architects, quantity surveyors, suppliers, transporters and numerous small businesses operating within Nigeria’s housing value chain.