The Federal Mortgage Bank of Nigeria (FMBN) has been recognized for its exceptional contributions to housing finance solutions, receiving the prestigious title of Best Housing Finance Solution at the 6th Edition of the Africa Housing Awards 2024. The award was presented during the “Industry End of Year Dinner 2024,” held on December 14 at the Umaru Musa Yar’Adua Centre in Abuja.
Under the leadership of Managing Director/Chief Executive Shehu Usman Osidi, FMBN was celebrated for its commitment to enhancing access to affordable housing across Nigeria. In his acceptance speech, Osidi commended the event organizers, particularly Barr. Festus Adebayo and the Housing Development Advocacy Network (HDAN), for their dedication to promoting sustainable housing development and facilitating impactful discussions on affordable housing.
Osidi highlighted the fruitful partnership between FMBN and HDAN, stating that their collaboration has demonstrated the achievements possible when institutions unite with common objectives. He recalled the FMBN Day at the Africa International Housing Show in July 2024, which provided a platform for the bank to showcase its strategic initiatives and deepen engagement with stakeholders.
“This recognition serves as an inspiration for us all to strive for greater accomplishments,” Osidi remarked, emphasizing the importance of acknowledging merit in driving progress within society.
He outlined several key milestones achieved by FMBN, including the launch of a N100 billion off-takers’ guarantee aimed at facilitating the development of the Renewed Hope Cities and Estates across Nigeria. Additionally, he mentioned new financial products introduced by the bank, such as Rent Assistance, Non-Interest Mortgage, and Diaspora National Housing Fund Mortgage, designed to further support Nigerians in their homeownership aspirations.
The evening also included the induction of two notable figures into the Affordable Housing Hall of Fame: Mrs. Olajumoke Akinwunmi, Managing Director of Alitheia Capital Ltd., and Prof. Olumide Olusanya, a Professor of Architecture at the University of Lagos.
Chairing the event, Arc. Musa Sada emphasized its purpose to honor deserving players in the housing sector while fostering discussions on increasing housing production and improving regulations to create a favorable environment for social housing, which is crucial for the majority of Nigerians.
Various awards were presented to distinguished individuals and organizations for their contributions to housing sector development. Notably, the Housing Friendly Governor of the Year was awarded to Engr. Abdullahi Sule of Nasarawa State, while Gov. Ahmed Aliyu Sokoto of Sokoto State received the Urban Planning Governor of the Year accolade.
The awards ceremony was a celebration of excellence in the housing industry, underscoring the vital role that various stakeholders play in addressing the housing challenges facing Nigeria. It concluded with a call for continued collaboration and innovation to further enhance the housing sector’s development.
