The Federal Mortgage Bank of Nigeria (FMBN) and the Ministry of Women Affairs are set to partner on the “Women in Housing” project, a unique model aimed at promoting affordable homeownership and financial inclusion for Nigerian Women.
The initiative was brought to light during a courtesy visit by the Bank’s Management Team led by the Managing Director/Chief Executive, Shehu Usman Osidi, to the Honourable Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim on Tuesday, February 25, 2025.
During the visit, Osidi acknowledged the critical role of women in national development, noting that despite their efforts and numerical strength, they continue to be underserved.
“At the Federal Mortgage Bank of Nigeria, we are committed to breaking these barriers through targeted housing finance solutions that empower women to overcome their economic challenges,” he asserted.
Osidi presented the Bank’s various product offerings all tailored towards meeting the housing needs of Nigerians, including the National Housing Fund (NHF) Mortgage Loan, the Individual Construction Loan, the Cooperative Housing Development Loan as well as the Rent-to-Own and Home Renovation Loans. He also informed the Women Affairs Minister of the Bank’s newly introduced Non-Interest products.
The MD/CE stressed the need for the Bank and the Ministry to work together to identify key intervention areas to enable women access housing initiatives. To this end, he proposed the creation of the ‘Women in Housing’ Model, explaining that the project would engage women to build housing estates throughout the housing value chain, from site clearing to finishing.
“The idea is that all the houses will be designed by female architects, all the engineers on site will be women engineers, from site clearance to the construction of the buildings, to finishing, everything will be done by women,” he explained.
He commended the Minister for the work she is doing, stating that her appointment is a testament to her commitment to national service and to the development of women in the society. “We are confident that under your leadership, the Ministry will continue to champion policies that will positively impact the lives of millions of Nigerian women,” he stated, pledging the Bank’s commitment to work closely with the Ministry towards actualizing the initiative.
In her comments, Hajia Imaan expressed joy at the news of working with the Bank on the ‘Women in Housing’ Model, highlighting the impact it would have on women in Nigeria. She noted that owing to insecurity, flooding and other disasters, there are many female-headed households. She said, “Housing is one of the dimensions of poverty and women are most vulnerable in this regard.”
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She therefore pledged the Ministry’s commitment to the project, expressing optimism that the project would impact many lives and contribute to the actualization of President Bola Tinubu’s vision for housing, employment and poverty alleviation.
On the FMBN delegation were the Executive Director of Business Development and Portfolio Management, Chinenye Chinedu Anosike, the Group Head of Risk Management, Dr. Kabir Yagboyaju, the Group Head, Corporate Communications, Mrs. Virginia Jang, the Group Head, Special Products Group, Mr. Abdulazeez Abubakar and other management staff of the Bank.
