Abuja: The Federal Mortgage Bank of Nigeria (FMBN) has introduced a series of innovative housing finance products aimed at enhancing access to affordable home ownership across the nation. The announcement was made by the Managing Director and Chief Executive of FMBN, Shehu Osidi, during the opening of the 2025 African International Housing Show in Abuja.
According to News Agency of Nigeria, Osidi emphasized the bank’s commitment to addressing Nigeria’s housing deficit with new financing models. He highlighted the bank’s dedication to promoting financial inclusion and meeting the housing needs of Nigeria’s population through targeted funding products. Starting in August, FMBN plans to roll out several new products, including the FMBN Non-Interest Mortgage Loan. This product is designed to align with ethical financial principles, catering to Nigerians who prefer alternative financial models.
Another product being launched is the Diaspora Mortgage Loan, aimed at providing a secure homeownership pathway for Nigerians living abroad. Osidi also introduced the Rent Assistance product, tailored to meet the immediate needs of National Housing Fund contributors in both formal and informal sectors, before they can own their homes.
Osidi stated these products are part of FMBN’s broader strategy to eliminate barriers to homeownership and expand access to financing. He acknowledged the bank’s recognition for delivering on its mandate but emphasized the importance of collaboration through platforms like the African International Housing Show for achieving affordable housing delivery.
He praised Festus Adebayo, the Convener of the Show, for his efforts in fostering conversations and partnerships on sustainable housing solutions across Africa. Osidi noted the strong partnership with Adebayo and the Africa International Housing Platform, underscoring the shared mission to make home ownership more accessible to Nigerians.
This year’s FMBN Day at the housing show will provide Nigerians and stakeholders the opportunity to learn more about the bank and exchange experiences, knowledge, and expertise.
