Abuja: The Federal Mortgage Bank of Nigeria (FMBN) has announced a significant achievement in its National Housing Fund (NHF) collections for the year 2025, reporting a total of ?152.4 billion. This marks a 48 percent increase compared to the ?103 billion generated in 2024.
According to News Agency of Nigeria, the FMBN’s Managing Director and Chief Executive, Shehu Osidi, shared these developments during a news briefing in Abuja, highlighting his administration’s accomplishments over the past two years. Osidi expressed gratitude to President Bola Tinubu for the trust placed in him, assuring that the progress made so far aligns with the expectations set upon his appointment.
Osidi emphasized that the Executive Management, upon assuming office, focused on four key pillars: financial sustainability, customer impact, operational efficiency, and institutional renewal, encapsulated in a 7-Point Agenda. He noted the renewed confidence in the NHF Scheme, with 2025 witnessing the highest annual collection in its history.
The Managing Director further detailed the growth in the contributor base, with over 139,000 new contributors registered in 2025, compared to 178,619 in 2024 and 113,577 in 2023. The total number of new contributors during the two-year tenure exceeded 300,000 Nigerians.
Moreover, Osidi reported improvements in processing NHF refunds for eligible contributors. In 2025, FMBN paid a total of ?15.6 billion to 55,068 beneficiaries, showcasing better turnaround times and improved operational efficiency in refund processing.
Notably, the Oyo State Government approved the re-entry of state workers into the NHF scheme after 27 years, and Kano State is nearing full reintegration following a Memorandum of Agreement with FMBN. Osidi attributed these milestones to increased confidence in the scheme, driven by the positive changes under the current management.
Osidi also highlighted the bank’s role in supporting affordable homeownership, aligned with the Renewed Hope Agenda of President Bola Tinubu’s administration. In 2025, FMBN financed 6,911 housing units, achieving 96 percent of its annual delivery target. The bank’s loan disbursements reached over ?79 billion, with individual NHF mortgages totaling ?8.2 billion.
Innovative products such as Rent-to-Own loans and Home Renovation Loans also contributed to financial inclusion, with substantial funds advanced to beneficiaries. FMBN played a crucial role in President Bola Tinubu’s Renewed Hope Housing Programme, providing a ?100 billion off-taker guarantee and direct funding to key projects.
Significant allocations were made to projects in Lagos and Abuja, with ongoing mortgage support for individual homebuyers. Osidi noted a marked increase in funding support for housing construction, reaching ?48 billion in 2025. Credit side improvements were evident, with loans to Primary Mortgage Banks totaling ?9.45 billion, and repayment discipline reaching 123 percent performance.
Osidi emphasized the need for bank recapitalization to fulfill its mandate, reaffirming FMBN’s commitment to stabilizing the institution and driving affordable homeownership across Nigeria. He also expressed gratitude to the Federal Ministry of Housing and Urban Development and stakeholders for their support.