By Nafisat Makinde
ABUJA, NIGERIA – TUESDAY: The Federal Ministry of Women Affairs and the Federal Mortgage Bank of Nigeria (FMBN) have announced a groundbreaking partnership to provide housing financing solutions tailored to empower women and promote homeownership.
This initiative, dubbed “Women in Housing,” aims to bridge the gender gap in home ownership.
During a courtesy visit to the Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, the Managing Director of FMBN, Mr. Shehu Usman Osidi, emphasized the importance of addressing housing poverty, a significant systemic barrier that women in Nigeria continue to face.
Sulaiman-Ibrahim welcomed the collaboration, stating that “housing is a key pillar to women’s financial independence.”
The FMBN Managing Director commended the Minister for her outstanding contributions to national development, highlighting the Ministry’s commitment to championing policies and initiatives that positively impact Nigerian women’s lives. He emphasized that women face numerous barriers to homeownership and that FMBN is dedicated to providing housing finance solutions that empower women and strengthen their economic stability.
Through the National Housing Fund (NHF) scheme, FMBN offers single-digit, low-interest mortgage loans catering to diverse needs, including women and vulnerable groups. The MD encouraged the Ministry to collaborate on identifying key intervention areas for ensuring housing inclusivity and invited policy recommendations to enhance affordable homeownership for women.
The partnership aims to promote financial inclusion and empower women to contribute meaningfully to national development. The Honourable Minister expressed enthusiasm about the partnership and its potential to realize the shared housing vision in collaboration with FMBN.
Key products offered by FMBN under the NHF Scheme include:
- Regular NHF Mortgage Loans: Single-digit loans for homeownership
- Individual Construction Loans: Capital to build personal homes
- Home Renovation Loans: Support for renovating existing homes
- Cooperative Housing Development Loans: Assistance for cooperative members to own homes
- Rent-to-Own Schemes: Structured for steady-income workers to transition from renting to ownership.
