The Federal Mortgage Bank of Nigeria (FMBN), under the leadership of Managing Director Shehu Usman Osidi, has reiterated its unwavering commitment to providing decent and affordable housing for Nigerians. This commitment was showcased during a recent project site inspection following the signing of a Memorandum of Agreement (MoA) with the Kano State Government on January 31, 2025.
The inspection took place at Ayab Estate in the Panshekara Community of Kumbotso Local Government Area, which features 70 housing units comprising one-bedroom, two-bedroom, and three-bedroom bungalows. These units have been specifically developed for teachers, healthcare workers, and other civil servants in the state.
In an interview with journalists, Osidi emphasized the significance of the recent MoA, which re-integrates Kano civil servants into the National Housing Fund (NHF) Scheme. He highlighted the missed opportunities since 2000, when Kano State civil servants withdrew from the scheme. “This is an opportunity for them to benefit from the many products that the Federal Mortgage Bank of Nigeria offers,” Osidi stated.
He outlined several financing options available through the NHF, including the regular National Housing Fund Loan, which allows contributors to access mortgages for purchasing homes. Additionally, the Individual Construction Loan enables landowners to secure loans for building their own houses, while the Co-operative Housing Development Loan allows unions to design and finance housing projects tailored to their needs.
Osidi also noted that the FMBN had executed multiple projects in Kano State, even before the state’s re-integration into the NHF scheme, emphasizing the bank’s commitment to ensuring that the residents benefit from housing opportunities. “Kano State has a very large workforce, second only to Lagos, and it is not right for them to miss out on the NHF benefits,” he explained.
The Ayab Estate project consists of 70 housing units, part of a broader initiative that includes projects in five locations across Kano State. Other sites include Minjibir, Kura, and Bichi, with unit counts varying based on location viability. Osidi praised the developer, Ayab Nigeria Ltd, for their quality work and timely completion of the project, which aligns with the bank’s standards for affordable housing.
The estate was initially targeted at teachers, but the housing units are now occupied by a mix of teachers and civil servants, including healthcare professionals. Osidi highlighted the affordability of the units, stating that a three-bedroom house is priced at just ₦7.5 million, while a two-bedroom unit costs ₦6.5 million.
“We are committed to replicating these types of projects across Kano State to benefit our civil servants further,” Osidi concluded, affirming the FMBN’s dedication to enhancing housing accessibility throughout the country.
As the FMBN continues to roll out initiatives aimed at improving housing delivery, the people of Kano can look forward to a renewed focus on affordable housing solutions that cater to their specific needs.
