Follow Us on Google Discover
The Federal Mortgage Bank of Nigeria (FMBN) has said it approved more than N208 billion in housing and mortgage loans in 2025 as part of efforts to expand access to affordable housing and homeownership across the country.
The Managing Director and Chief Executive Officer of FMBN, Shehu Osidi, disclosed this on Monday, October 19, 2026, during the commemoration of World Habitat Day and World Cities Day in Abuja, organised by the Federal Ministry of Housing and Urban Development.
According to Osidi, the bank also disbursed over N120 billion during the period to finance housing development, mortgage loans, home renovation and other housing-related initiatives.
FMBN finances 6,911 housing units
Osidi disclosed that the bank financed 6,911 affordable housing units in 2025, achieving approximately 96% of its annual target of 7,200 units under the Presidential and Ministerial Deliverables.
Also Read
He explained that the performance reflected FMBN’s efforts to improve access to housing finance and support affordable housing development across Nigeria.
- “During the period, over N208 billion in housing and mortgage loans was approved,” Osidi said.
He further highlighted the bank’s disbursements across several housing finance programmes, including initiatives designed to support individuals, property developers and cooperative housing schemes.
- “Over N120 billion disbursed to support housing construction, mortgage financing, home renovation, cooperative housing, and Rent-to-Own initiatives,” he added.
The FMBN chief also confirmed the formal launch of the Diaspora National Housing Fund (NHF) Mortgage Loan, designed to enable Nigerians living abroad to access mortgage financing for property ownership in Nigeria.
He announced that the bank planned to introduce two additional products before the end of October: a non-interest mortgage scheme for NHF contributors seeking alternative financing arrangements and a rent assistance programme aimed at easing rental payment pressures on federal civil servants.
Diaspora mortgage offers N100 million loans
The disclosure comes about two months after FMBN officially launched its Diaspora NHF Mortgage Loan in London, United Kingdom, on August 7, 2026, following an earlier announcement of the initiative in July.
The product was introduced to provide eligible Nigerians living and working abroad with a structured means of financing residential property purchases in Nigeria without having to return to the country to complete the application process.
- Under the scheme, eligible diaspora contributors can access mortgage loans of up to N100 million at an annual interest rate of 9%, with a maximum repayment period of 10 years.
- Applicants can enrol in the NHF scheme, fulfil Know Your Customer (KYC) requirements electronically and make the required contributions remotely.
Loan approval remains subject to affordability assessments and other eligibility requirements established by the bank.
The initiative forms part of FMBN’s broader efforts to extend mortgage financing beyond domestic contributors while encouraging investment by Nigerians abroad in the country’s housing sector.
NHF collections rise 48% in 2025
The latest figures build on FMBN’s earlier disclosures of increased housing finance activities and stronger National Housing Fund collections, reflecting growth in both the bank’s funding base and loan approvals.
- In February 2026, the bank reported that NHF collections reached a record N152.4 billion in 2025, representing a 48% increase from the N103 billion collected in 2024.
- The NHF is a contributory housing finance scheme designed to mobilise funds and provide eligible contributors with access to affordable mortgage financing.
- FMBN’s housing loan approvals increased to N71.5 billion in 2024, compared with N39.7 billion in 2023, representing growth of approximately 80%.
The more than N208 billion approved in 2025 represents an increase of at least 191% compared with the N71.5 billion recorded in 2024.
