‎The Federal Mortgage Bank of Nigeria (FMBN) and the Ebonyi State Government are set to partner on the development of an 800-unit workers’ housing estate in Ebonyi State, with the project expected to scale up to 3,000 units in subsequent phases.

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‎The proposed partnership was the major focus of a courtesy visit by the Managing Director/Chief Executive of FMBN, Shehu Usman Osidi, to the Executive Governor of Ebonyi State, Rt. Hon. Francis Ogbonna Nwifuru, at the Government House, Abakaliki, on Wednesday, August 19, 2026. 

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‎Osidi was represented at the visit by the Executive Director, Business Development and Portfolio Management, Mrs. Chinenye Chinedu Anosike.

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‎Speaking during the visit, the FMBN Chief Executive stated that the partnership would provide a sustainable platform for delivering decent, affordable and accessible homes to workers across the State, while complementing the housing, economic and social development priorities of the Governor’s administration.

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‎He explained that the 800-unit workers’ housing estate is the first phase of the project and would be expanded to 3,000 units in subsequent phases to be delivered under a Public-Private Partnership (PPP) arrangement. 

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‎Under the arrangement, Osidi said the State Government would provide suitable, titled and unencumbered land, together with the requisite on-site and off-site infrastructure, while FMBN provides the necessary financing and an accredited developer undertakes the development and construction of the estate.

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He noted that the arrangement would strengthen the financing framework and facilitate seamless access to mortgage finance for eligible beneficiaries.

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‎Highlighting FMBN’s interventions in Ebonyi State, Osidi said the Bank had financed over 340 housing units under its Construction Finance Loan, with investments exceeding ₦2.8 billion.

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‎He added that FMBN had also disbursed over ₦1.9 billion in Home Renovation Loans to 2,525 civil servants, while ₦29.8 million had been disbursed under the Rent-to-Own Scheme, in addition, to over ₦508 million refunded to 3,218 NHF beneficiaries.

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‎“FMBN looks forward to deepening its partnership with Your Excellency’s administration and other relevant stakeholders to identify and implement practical, innovative and sustainable interventions that will expand access to affordable housing finance, accelerate housing delivery and promote homeownership across Ebonyi State,” he stated.

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‎Responding, Governor Nwifuru welcomed the proposed partnership and reiterated his administration’s commitment to expanding access to affordable housing in Ebonyi State. He particularly highlighted the impact of rising building material costs and called for collaboration with relevant professional and regulatory bodies to promote modern housing designs, quality construction materials and innovative housing solutions, including high-rise developments to maximise available land.

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‎The Governor subsequently constituted a technical session involving relevant members of the State Executive Council and FMBN delegates to finalise modalities for the proposed housing initiative.

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‎The engagement underscores FMBN’s commitment to strengthening partnerships with state governments and other stakeholders to increase housing supply, expand access to sustainable housing finance and promote affordable homeownership across Nigeria.

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