FMBN To Increase Affordable Housing For Nigerians

The Federal Mortgage Bank of Nigeria has restated it’s commitment to provide affordable housing for Nigerians.

The Managing Director of the bank, Madu Hamman said this when the FMBN Management Team met with a delegation from the Niger State Govt led by the Commissioner for Youth and Sport and the Supervising Commissioner for the Ministry of Land and Housing, Hon. Sani Lafia.

The meeting, which was held at the FMBN head office in Abuja, marked the resumption of engagement with the Niger State Government towards completing a longstanding collaborative affordable housing project located along Kaduna-Abuja Road close to the Zuma Rock in Niger State.

The FMBN Boss applauded the Niger State Government for resuming talks with the Bank to ensure increased access to affordable housing for its citizens through the National Housing Fund (NHF) Scheme.

“The FMBN is willing and ready to work with the Niger State government towards ensuring completion of the project to increase access to affordable housing stock for NHF contributors in Niger state.” Hamman said.

The FMBN MD had during the inauguration of the board explained further that housing is one of the basic human needs, adding that access to housing finance is the critical ingredient in achieving this.

According to the FMBN, Nigeria’s housing gap is estimated to be in the region of 17 million units while homeownership is estimated at a low 25 per cent.

The FMBN MD said the management and the board will work harmoniously to reposition the bank to deliver on its core mandate by providing credit facilities through mortgage institutions in Nigeria.

He added that this would encourage and promote the growth of viable primary and secondary mortgage institutions in Nigeria.

The FMBN Boss noted that by promoting a viable mortgage sector, the bank would be able to service the housing needs of Nigerians.