Abuja: The Federal Mortgage Bank of Nigeria (FMBN) has announced the delivery of 1,590 housing units and the disbursement of N9.5 billion in Home Renovation Loans to 10,601 civil servants in collaboration with the Nasarawa State Government.
According to News Agency of Nigeria, the Managing Director and Chief Executive Officer of FMBN, Shehu Osidi, disclosed these achievements during a courtesy visit by Nasarawa State Governor, Abdullahi Sule, in Abuja. Osidi highlighted that the initiatives are part of FMBN’s efforts to provide affordable housing and enhance the welfare of workers in Nasarawa State.
Osidi stated, “FMBN has strengthened its support for affordable housing development in Nasarawa State with the delivery of 1,590 housing units and the disbursement of N9.5 billion in Home Renovation Loans to 10,601 civil servants.” He further mentioned that the bank has financed over 1,590 housing units across the state and disbursed significant funds in home renovation loans, allowing families to improve their homes’ quality. The bank also supports mortgages for civil servants to acquire homes under the State Government’s Owner-Occupier Housing Scheme.
The FMBN has disbursed 94.7 billion dollars to the State Government for 29 beneficiaries under the scheme. Additionally, the bank has refunded over 1.02 billion dollars in National Housing Fund contributions to 5,462 retirees from the state. Osidi emphasized the bank’s dedication to ensuring contributors receive their due benefits upon retirement and reiterated FMBN’s commitment to workers’ welfare.
Osidi expressed gratitude for the Nasarawa State Government’s support in issuing certificates of occupancy for housing projects, facilitating project implementation. He noted the advanced stage of construction at the Lafia site and anticipated the commencement of work at other locations by the third quarter’s end.
Governor Abdullahi Sule commended FMBN for its role in President Bola Tinubu’s Renewed Hope Housing Agenda. He described FMBN as a reliable partner whose efforts align with the state’s vision to become a prominent investment and residential destination. Sule applauded the bank’s decision to start housing projects in strategic locations and called for additional interventions in Karu due to its proximity to the Federal Capital Territory.
The governor highlighted Nasarawa’s strategic location next to Abuja and ongoing infrastructure projects, such as the Mararaba flyover, which will enhance connectivity with the FCT. He noted the anticipated benefits of the Federal Government’s highway project linking several states and the establishment of a specialized university in Gudi. He also pointed out Toto’s potential as a hub for solid minerals and agriculture, citing recent investments in lithium processing.
Sule praised FMBN’s commitment to developing housing estates across Nasarawa, emphasizing that the partnership will support the state’s industrialization efforts and address Nigeria’s housing deficit.