From Isaac Anumihe and Adline Elechi, Abuja
As part of efforts to reduce the over 15 million housing deficit and make Nigerians access decent and affordable housing, the Federal Government has approved over ₦208 billion in housing and mortgage loans with over ₦120 billion disbursed to support housing construction, mortgage financing, home renovation, co-operative housing, and rent-to-own initiatives.
Managing Director and Chief Executive Officer (MD/CEO) of Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, who spoke at the commemoration of 2026 World Habitat Day and World Cities Day in Abuja today, explained that the objective is to broaden the pathways through which Nigerians can access decent and affordable housing.
“Under the 2025 Presidential and Ministerial Deliverables, the bank financed 6,911 affordable housing units, representing 96 per cent of its annual target of 7,200 units,” he said.
Osidi noted that these achievements underscore the bank’s enduring role as a reliable, transparent, and inclusive conduit for delivering affordable housing to Nigerians.
According to him, in line with the government’s commitment to inclusivity, it has formally launched the Diaspora National Housing Fund (NHF) Mortgage Loan, designed to enable Nigerians abroad to invest in affordable housing back home.
“Before the end of this month, we will also commence the implementation of the Non-interest Mortgage Product, tailored to meet the needs of contributors who prefer ethical financing options as well as the rent assistance product, a landmark initiative that will ease the burden of rent payments for Nigerian federal civil servants as a bridge towards eventual homeownership.
“As we commemorate World Habitat Day and World Cities Day, FMBN will continue to work with the Federal Ministry of Housing and Urban Development (FMHUD), and other stakeholders to expand access to housing finance and support the delivery of affordable homes. As stakeholders, we must recommit ourselves to building resilient, inclusive, and sustainable cities where access to adequate housing is not a privilege but a right,” he said.
In his remarks, Minister of Housing and Urban Development, Engineer Muttagha Darma, disclosed that the government is implementing reforms to strengthen housing institutions, improve service delivery and create an enabling environment for investment.
The reforms, he said, include improved coordination among federal housing agencies, strengthened land administration, effective physical planning and alignment of housing delivery with national urban development priorities.
The ministry, Darma further explained, is also promoting local building materials manufacturing hubs to reduce construction costs, stimulate domestic production and create employment.
United Nations Secretary-General, Mr Antonio Guterres, who was represented by Anaclaudia Rossbach, noted that adequate housing is the foundation of dignity, security and opportunity.
But she wondered why more than three billion people are denied the universal human right.
She stated over one billion people live in informal settlements and slums, and many more experience homelessness and have been displaced by conflicts, disasters and climate change.
“Investing in adequate housing and transforming informal settlements reduces poverty, tackles inequality, builds climate resilience and fosters peaceful and inclusive societies. This demands coordinated actions at every level, with national and local governments shaping both policies and building partnerships,” she explained.
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