The Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, has restated the Bank’s commitment and readiness to strengthen partnerships with state governments across the Federation, to bolster affordable housing delivery.

Osidi stated this in his goodwill message at the Commissioning (Phase 1) and Ground-Breaking Ceremony (Phase 2) of Nasarawa Technology Village in Aso Pada District, Karu, Nasarawa State, on Monday, March 11, 2024.
Applauding the project, the MD/CE congratulated the Visioner of the project and the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule, as well as the Developers, ABS Blueprint Limited, Modern Shelter System and Services Limited and Statewide Home Builders Limited Consortium, for prompt delivery of the project.
Osidi noted that the housing units stand as a testament to collective progress in tackling the housing shortage facing Nigeria. He said, “The Federal Mortgage Bank of Nigeria is proud to be associated with this event and we are delighted at the significant impact this project is bound to make in our journey towards providing sustainable housing solutions and fostering development within our communities.”
He further highlighted key collaborative efforts already undertaken by the Bank towards improved access to decent and secure accommodation for Nigerians at all levels of income brackets through affordable mortgage financing.
Focusing on Nasarawa State, Osidi revealed that the Bank has financed 11 housing projects, with a record of 7,886 Nasarawa State indigenes as beneficiaries of the Bank’s Home Renovation Loan (HRL) window. Additionally, he stated that within a few weeks, Gov. Sule will be commissioning 150 units of houses developed by Alphabait Realty Limited and funded by the Bank.
Osidi therefore harped on the need to continue leveraging on innovation and strategic partnerships to drive affordable housing delivery, with a promise of expanded homeownership across all States when the Bank is recapitalised, “as is being actively championed by the Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.”
The FMBN Chief Executive, while calling on other State Governments to take advantage of the partnership offer to address the housing needs in their states, encouraged Nasarawa State indigenes to make efforts to access the homeownership opportunities made available by the Bank, in the form of Home Renovation Loans, Individual Construction Loans, and Cooperative Housing Development Loans, amongst others.
Mrs. Timan Elayo
Group Head, Corporate Communications