The Federal Mortgage Bank of Nigeria (FMBN) has reaffirmed its dedication to enhancing the housing finance and mortgage sector, aiming to boost homeownership and address the nation’s housing deficit.
During the 46th Kaduna International Trade Fair, FMBN’s Managing Director/Chief Executive, Shehu Usman Osidi, underscored the significant impact of trade fairs on economic growth and innovation.
Osidi was represented by Dr. Sani Muhammad Sani Abdu, the Executive Director of Loans and Mortgages, who praised the Kaduna Chamber of Commerce, Industry, Mines & Agriculture (KADCCIMA) for hosting the event. He described the fair as an essential venue for networking, business development, and national progress.
Osidi also pointed out FMBN’s recent efforts to enhance mortgage accessibility, including the increase of the National Housing Fund (NHF) mortgage loan limit from N15 million to N50 million to accommodate higher-income earners.
He observed that this change has reignited interest in the NHF scheme, with requests being handled swiftly.
The FMBN leader also emphasized that the bank is the sole institution providing single-digit mortgage rates, ranging from six to seven percent, through offerings like the Individual NHF Loan, Individual NHF Construction Loan, Home Renovation Loan, and Rent-to-Own scheme.
In spite of inflationary challenges, Osidi assured that FMBN will persist in creating affordable mortgage products to help more Nigerians attain homeownership.
The Kaduna International Trade Fair, held annually, acts as a venue for businesses, industries, and key stakeholders, including those in the housing sector, to display their products, cultivate partnerships, and promote economic growth.
