In fulfilment of its mandate of expanding access to decent and affordable housing for Nigerians, the Federal Mortgage Bank of Nigeria (FMBN) on Tuesday, June 23, presented keys to beneficiaries of the Brains and Hammers Bungalow City, a housing project funded by the Bank.

Presenting the symbolic key, the Honourable Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, PhD, said the Federal Government remains committed to moving beyond promises to tangible delivery in the housing sector.

“The time for rhetoric is over. Now is the time for action,” the Minister said, while assuring beneficiaries that the Ministry would continue to prioritise the delivery of affordable housing to Nigerians.

The Minister noted that the housing sector remains a key priority of the administration of President Bola Ahmed Tinubu, whose Renewed Hope Agenda includes a commitment to expanding housing delivery across the country.

“We must deliver on our responsibility as a ministry. We must make Nigerians proud because the responsibility given to us must be met,” he stated.

Speaking at the handover ceremony, the Managing Director/Chief Executive of FMBN, Mr. Shehu Usman Osidi, said the project, financed under the Megacity Housing Project, reflects the Bank’s commitment to expanding access to affordable housing and supporting Nigerians on the path to homeownership. 

He noted that FMBN remains focused on delivering innovative mortgage solutions that make decent housing more accessible, while strengthening partnerships that drive sustainable housing development across the country.

“At FMBN, our foremost responsibility is to ensure that every National Houding Fund (NHF) contributor receives value for his or her contribution through more accessible, affordable and sustainable housing solutions,” he said.

He further disclosed that the houses, comprising two and three bedroom terraces, have been packaged under FMBN’s Rent-to-Own Scheme, a product designed to provide subscribers with a flexible route to homeownership by allowing them occupy their homes while making structured payments towards eventual ownership.

The MD/CE emphasized that the initiative is in step with the Bank’s mandate of providing affordable housing finance and improving the housing experience of Nigerian workers and contributors to the NHF Scheme.

As a demonstration of the importance of the event and FMBN’s collective commitment to advancing affordable housing delivery, the Bank’s Board Members - Mr. Momoh Jubril, Arc. Abimbola Adenike Asein and Mr. Nura Aliyu Tijjani, as well as Executive Directors, Mr. Muhammad Sani Abdu (Loans and Mortgage Services), Mr. Ibidapo Odojukan (Finance and Corporate Services), and Mrs. Chinenye Chinedu Anosike (Business Development and Portfolio Management), alongside senior management staff, were present at the event. Also in attendance were senior Directors and staff of the Ministry.

Expressing satisfaction with the quality of the houses, the beneficiaries commended FMBN’s role in financing the project and making their journey towards homeownership smoother. Barr. Sanusi Dansoro, who received the symbolic key on behalf of the subscribers, noted that the occasion demonstrated that when government and key stakeholders collaborate with a shared commitment, impactful and transformative outcomes can be achieved.

The symbolic handover reasserted FMBN’s commitment to ensuring that contributors to the NHF Scheme receive value for their contributions through access to affordable homeownership opportunities.

 Joe Abuku 

 Group Head, Corporate Communications