The Federal Mortgage Bank of Nigeria (FMBN) recorded a historic N152.4 billion in Nationwide Housing Fund (NHF) collections in 2025, representing a 48% improve from the N103 billion generated in 2024.
Managing Director and Chief Govt Officer of FMBN, Shehu Osidi, disclosed this on Wednesday in Abuja throughout a press briefing to mark his second 12 months in workplace.
Osidi thanked President Bola Tinubu for the arrogance reposed in him via his appointment two years in the past, stating that the bank’s latest progress demonstrates that the belief positioned in his management was not betrayed and wouldn’t be.
What they’re saying
Osidi defined that upon assuming workplace, the manager administration dedicated to repositioning FMBN round 4 strategic pillars—monetary sustainability, customer affect, operational effectivity, and institutional renewal—anchored on a 7-Level Agenda.
- “I’m proud to say that our stewardship within the final two years has seen renewed confidence within the Nationwide Housing Fund (NHF) Scheme. Earlier than we got here in, the best annual assortment ever made into the NHF was N100 billion, which was recorded in 2023.
- “In 2024 after we got here in, we took the gathering to N103 billion. Within the outgone 12 months 2025, our NHF collections reached N152.4 billion, representing over 48% year-on-year progress and the best annual assortment within the historical past of the scheme.
- “We additionally grew our contributor base by registering over 139,000 new contributors in 2025, in comparison with 178,619 in 2024 and 113,577 in 2023. This brings the overall variety of new contributors below our two-year tenure to effectively over 300,000 Nigerians.’’
He additional famous enhancements within the processing of NHF refunds.
Based on him, N13.2 billion was paid to 40,426 beneficiaries in 2023 earlier than he assumed workplace, whereas N14.4 billion was refunded to 44,333 beneficiaries in 2024.
In 2025, refunds rose to N15.6 billion, benefiting 55,068 contributors.
Osidi mentioned the upward development displays reforms aimed toward bettering turnaround occasions and operational effectivity.
Backstory
FMBN had beforehand recorded N103 billion in NHF collections in 2024, then the best in its historical past.
- In the identical 12 months, 658 employer organisations and 178,619 staff have been registered, in comparison with 556 employers and 113,577 staff in 2023.
- The bank additionally posted an operational surplus of N11.58 billion in its 2024 administration accounts, its first in over 30 years.
Mortgage approvals climbed to N71.5 billion in 2024, up from N39.7 billion in 2023, whereas N14.4 billion was refunded to 44,333 beneficiaries, in comparison with N13.2 billion paid to 40,426 beneficiaries in 2023.
Extra insights
Osidi revealed that the Oyo State Authorities accepted the reintegration of its staff into the NHF scheme after 27 years, whereas Kano State, which exited in 2002, is near full reintegration following a Memorandum of Settlement with FMBN.
- In 2025, FMBN financed 6,911 housing items—reaching 96% of its annual goal—throughout Cooperative Housing Improvement Loans, the Ministerial Pilot Housing Scheme, Reasonably priced Housing Improvement initiatives, and Mega/Mini Cities below the Renewed Hope Housing Programme.
- Challenge mortgage disbursements rose to over N79 billion in 2025, up from N31.5 billion in 2024, whereas particular person NHF mortgage disbursements elevated by 38% to N8.2 billion from N5.9 billion in 2024.
Modern merchandise corresponding to Lease-to-Personal loans and Residence Renovation Loans additionally expanded monetary inclusion, with N7.1 billion disbursed to 367 beneficiaries and N13.8 billion to fifteen,290 beneficiaries, representing an 86% improve over 2024.
Osidi disclosed that the bank supplied a N100 billion off-taker assure and direct funding help for key initiatives below the Renewed Hope Housing Programme.
- In Lagos, N27 billion was allotted to the Ibeju-Lekki Renewed Hope Metropolis, with N8 billion already disbursed for 252 accomplished items. In Abuja, N19.9 billion was accepted for the Karsana Renewed Hope Metropolis, with N17 billion used to assemble 547 items, plus 288 further items, bringing the overall to 864 items.
Funding approvals have additionally been granted for initiatives in Enugu and different states, alongside ongoing mortgage help for particular person homebuyers.
- “Equally vital is the worth of our funding help for housing development, which elevated from N10 billion in 2024 to N48 billion in 2025, a constructive variance of N38 billion that vividly demonstrates our strengthened capability to mobilize assets at scale.
- “On the credit score facet, the Bank accepted loans totaling N9.45 billion to Major Mortgage Banks(PMBs) in 2025, greater than N9.099 billion in 2024, exhibiting regular progress.
- “Extra importantly, compensation self-discipline improved considerably, with Major Mortgage Banks reaching 123% compensation efficiency in 2025, in comparison with 85% in 2024, a variance of 38% that displays stronger credit score high quality and restoration frameworks,” Osidi additional disclosed.
He, nonetheless, famous that the bank’s single obligor restrict constrained the overall quantity of loans that would have been prolonged to PMBs.
Osidi pressured the necessity for recapitalisation to allow FMBN absolutely ship on its mandate and reaffirmed the bank’s dedication to institutional stability, improved effectivity, and increasing reasonably priced homeownership nationwide.
What it is best to know
Final 12 months, FMBN reported housing mortgage approvals of N71.5 billion in 2024, up from N39.7 billion in 2023—one among its strongest performances lately.
Osidi additionally disclosed that the bank recovered N18.9 billion in delinquent loans via seven restoration job groups arrange throughout Nigeria’s geo-political zones, additional strengthening its monetary place.
