The Federal Mortgage Bank of Nigeria (FMBN) says it financed 6,911 housing units in 2025, a 300% increase from the previous year.
The bank’s Managing Director and Chief Executive, Mr Shehu Osidi, disclosed this during the FMBN Day, at the ongoing 2026 Legacy Edition of the Africa International Housing Show (AIHS) in Abuja, Nigeria’s Capital.
367 Nigerians became homeowners through its Rent-to-Own Scheme in 2025, acquiring homes valued at more than N7.1 billion ($4.6 million), as the institution reported strong growth across its housing finance programmes aimed at addressing the country’s housing shortage.
Speaking at the 2026 Legacy Edition of the Africa International Housing Show (AIHS) in Abuja, FMBN Managing Director and Chief Executive, Shehu Osidi said partnerships among government agencies, private developers and financial institutions remain critical to expanding affordable housing for low-income earners and workers in Nigeria’s vast informal sector.
“Our Rent-to-Own product continued to provide opportunities for Nigerians with 367 beneficiaries accessing homes valued at over N7.1 billion,” Osidi said.
He explained that the scheme allows beneficiaries to transition into homeownership through affordable monthly payments, removing the need for large upfront deposits typically required when purchasing homes.
Osidi said the Rent-to-Own programme remains one of the bank’s most successful products, supported by stronger stakeholder partnerships and improvements in housing finance delivery.
According to him, FMBN disbursed N13.8 billion to 15,290 beneficiaries under its Home Renovation Loan programme, representing an 86 per cent increase compared with the previous year.
The bank also strengthened loan recovery efforts, with recoveries rising from N14 billion in 2024 to N27.3 billion in 2025.
Osidi said the improvement reflected stronger operational efficiency and growing public confidence in the management of the NHF scheme.
“Through strategic partnerships, FMBN financed 6,911 housing units during the year, achieving about 96 per cent of its annual target. The figure represents a 300 per cent increase from the 2,165 housing units financed in 2024.As part of President Bola Tinubu’s Renewed Hope Housing Programme, the bank is currently financing 3,139 housing units nationwide”
Osidi said FMBN has provided N27 billion in construction finance for housing projects in Ibeju-Lekki, Lagos State, while additional investments include N19.9 billion for developments in Karsana in Nigeria’s Federal Capital Territory, N10 billion in Port Harcourt and N7.8 billion in Enugu.
He said the projects were generating employment across the housing value chain, creating opportunities for artisans, engineers, architects, suppliers, transport operators and other professionals.
Osidi noted that growing confidence in the bank’s operations has encouraged previously disengaged stakeholders to return to the National Housing Fund scheme.
“These milestones underscored the confidence that governments and organised labour now repose in FMBN,” he said.
He announced the development of new financing products, including a Non-Interest Mortgage Product, a Diaspora NHF Mortgage and a Rent Assistance Loan, designed to broaden access to housing finance for different categories of Nigerians.
Mr Osidi reaffirmed FMBN’s commitment to extending affordable housing opportunities beyond formal-sector workers to artisans, traders, farmers, transport operators and millions of people employed in Nigeria’s informal economy.
