By Angela Atabo

The Federal Mortgage Bank of Nigeria (FMBN) has unveiled innovative housing finance products aimed at expanding access to affordable home ownership in the country.

The Managing Director and Chief Executive, FMBN, Shehu Osidi, disclosed this at the opening of the 2025 African International Housing Show on Tuesday in Abuja.

Osidi reaffirmed the bank’s unwavering commitment to addressing Nigeria’s housing deficit through innovative financing models.

“FMBN remains fully committed to deepening affordable home ownership and promoting financial inclusion through targeted, innovative funding products that truly serve the housing needs of Nigeria’s diverse population.

“That is why, starting this August, we have set to roll out several ground-breaking products, including the FMBN Non-Interest Mortgage Loan, which aligns with ethical financial principles to cater to the needs of Nigerians who prefer alternative financial models.

“We are also launching the Diaspora Mortgage Loan, specially designed to provide the safe and seamless homeownership pathway for Nigerians living abroad.”

Osidi said there was another new product which is the Rent Assistance product, a customised product tailored to meet the immediate needs of the National Housing Fund (NFH) contributors in both formal and informal sectors, before they are able to own their own homes.

According to him, these products are part of FMBN’s broader strategy to remove barriers to homeownership and expand access to monthly financing.

He said that the bank had been recognised to deliver on its mandate.

He, however, said that the bank could not do it alone except through collaborations and platforms, like the African International Housing Show, which was crucial to building the kind of robust stakeholder engagement needed to drive affordable housing delivery.

He commended the Convener of the Show, Festus Adebayo, for his tireless efforts and selfless commitment to driving conversations and partnerships around sustainable housing solutions across Africa.

“You are not only a friend of the bank, but also a vital partner in our shared mission of making home ownership more accessible to all Nigerians.

“We are especially proud of the strong and growing relationship that we enjoy with you and the Africa International Housing Platform,” he said.

Osidi said this year’s FMBN Day at the housing show would afford Nigerians and stakeholders the opportunity to learn more about the bank and share their experiences, knowledge, and expertise. (NAN)(www.nannews.ng)

Edited by Modupe Adeloye/Folasade Adeniran