{
  "id": 15621519,
  "title": "FMBN approves N208 billion in housing loans, finances 6,911 homes",
  "url": "https://urgent.news/2026/10/19/fmbn-approves-n208-billion-in-housing-loans-finances-6-911-homes",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T15:40:00.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/19/fmbn-approves-n208-billion-in-housing-loans-finances-6911-homes/"
  },
  "original_language": "en",
  "account": "The Federal Mortgage Bank of Nigeria (FMBN) approved over N208 billion in housing and mortgage loans in 2025, in an initiative to broaden access to affordable housing across the nation. Managing Director and CEO, Shehu Osidi, revealed this during the World Habitat Day and World Cities Day celebration in Abuja on October 19, 2026, according to FMBN's official channel.\n\nIn the same period, FMBN disbursed more than N120 billion to finance housing development and mortgage loans, as well as home renovations and other housing-related programs. The bank financed 6,911 affordable housing units in 2025, meeting nearly 96% of its annual target of 7,200 units under the Presidential and Ministerial Deliverables, reinforcing its commitment to improving housing finance access in Nigeria.\n\nOsidi detailed FMBN's support for various housing finance programs, including individual assistance, property developers, and cooperative housing schemes. He announced the formal launch of the Diaspora National Housing Fund (NHF) Mortgage Loan on October 19, 2026, aimed at enabling Nigerians living abroad to finance property ownership in Nigeria without returning to the country.\n\nTwo additional products, a non-interest mortgage scheme for NHF contributors and a rent assistance program for federal civil servants, are set to be introduced before the end of October. These initiatives come two months after the official launch of the Diaspora NHF Mortgage Loan in London, UK, in August 2026.\n\nThis disclosure follows FMBN's successful launch of the fund in July, designed to provide structured financing for eligible Nigerians abroad to purchase residential property in Nigeria. Eligibility for the loan is determined based on affordability assessments and other bank-established requirements.\n\nThe latest figures highlight FMBN's increased housing finance activities and stronger National Housing Fund collections, reflecting growth in both the bank's funding base and loan approvals. The N208 billion approved in 2025 represents an impressive 191% increase from the N71.5 billion recorded in 2024.",
  "summary": "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 post FMBN approves N208 billion in housing loans, finances 6,911 homes appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}