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FHA Mortgage Bank Announces N100 Billion Expansion Plan to Boost Housing in Nigeria
Federal Housing Authority Mortgage Bank (FHA Mortgage Bank) has announced a N100 billion expansion plan aimed at increasing access to affordable housing and strengthening Nigeria’s mortgage market.....KINDLY READ THE FULL STORY HERE▶
The plan, unveiled this week in Abuja, is designed to provide more Nigerians with long-term financing options to purchase homes. Officials said the move is part of the bank’s strategy to address the country’s growing housing deficit, estimated at more than 20 million units.
According to the bank’s management, the expansion will involve new investments in mortgage products, partnerships with developers, and support for low- and middle-income families. The bank also said it will leverage private sector participation to raise funds and reduce pressure on government resources.
“This expansion is a bold step toward closing Nigeria’s housing gap,” an FHA Mortgage Bank spokesperson said. “Our focus is to make homeownership more accessible to Nigerians through affordable and sustainable financing.”
Meeting Housing Needs
Nigeria has one of the largest housing deficits in Africa, with millions of families unable to afford decent homes. Analysts say high construction costs, limited mortgage options, and low incomes have made it difficult for many to own houses.
The N100 billion plan is expected to stimulate construction activities, create jobs, and support economic growth. Experts believe it could also lower interest rates on housing loans, making mortgages more attractive to potential homeowners.
“This is an important intervention,” said real estate analyst Chukwuemeka Nwosu. “The mortgage sector has been underdeveloped for years. If well managed, this expansion could transform the housing market and provide relief for thousands of Nigerians.”
Financing the Expansion
FHA Mortgage Bank said the funds will be sourced through a mix of equity contributions, bonds, and strategic partnerships. The bank is working with both local and international investors to secure financing.
Officials explained that part of the expansion will include digital platforms to make mortgage applications easier and more transparent. Customers will be able to apply for loans online and track progress in real time.
“Our goal is to remove barriers,” the spokesperson added. “We want to use technology to improve service delivery and ensure more Nigerians can benefit from mortgage opportunities.”
Support from Government and Stakeholders
The Federal Government has welcomed the plan, noting that housing development is a key pillar of its economic agenda. Officials said the move will complement ongoing housing projects across the country.
Civil society groups and housing advocates have also urged the bank to ensure that the loans remain affordable for ordinary Nigerians. Past housing projects, they noted, often favored high-income earners.
“This must not become another program that only the wealthy can access,” said housing activist Amina Yusuf. “The priority should be low- and middle-income families, who face the biggest challenges in owning homes.”
Looking Ahead
The expansion comes at a time when Nigeria’s real estate market is showing signs of recovery after years of sluggish growth. Rising urbanization and population growth have continued to push demand for affordable housing.
If successful, FHA Mortgage Bank’s N100 billion plan could become one of the largest single investments in Nigeria’s mortgage sector. Industry watchers say it could also encourage other banks to increase lending for housing projects.
“The key will be execution,” Nwosu said. “Nigerians have heard promises before. What matters now is seeing real results—affordable houses delivered on time, with mortgages people can actually pay back.”
For millions of Nigerians still struggling to find decent housing, the FHA Mortgage Bank’s expansion could represent a long-awaited opportunity. The coming months will show how quickly the plan can translate into homes and hope for families across the country.
According to Nivo News, the General Overseer of the Living Faith Church Worldwide, Bishop David Oyedepo, has declared what he described as divine judgment on bandits and their alleged sponsors responsible for insecurity across parts of Nigeria.....KINDLY READ THE FULL STORY HERE▶
Speaking on Sunday at the church’s headquarters in Ota, Ogun State, during a sermon themed “Covenant Day of Vengeance,” Oyedepo stated that those behind killings, kidnappings, and violent attacks would face divine retribution. He further claimed that within the next seven days, consequences would begin to manifest against those he accused of fueling unrest in the country, assuring worshippers that the coming week would be marked by “testimonies of vengeance.”
He was quoted as saying that judgment had been pronounced on individuals responsible for such acts and their supporters, adding that the outcome he referenced would unfold within a week.
In a related remark during a recent midweek service, Oyedepo also acknowledged the presence of fraudsters within and outside religious spaces, warning that his identity and images were being exploited for fraudulent schemes. He urged members of his congregation to remain vigilant and committed to truth to avoid falling victim to scams involving impersonation.
He recounted a case where an individual allegedly posed as him in an attempt to defraud unsuspecting victims, noting that such incidents highlight the growing sophistication of fraudulent activities.
A political disagreement has emerged within the All Progressives Congress (APC) in Nasarawa State following Governor Abdullahi Sule’s reported endorsement of Senator Aliyu Wadada as his preferred successor ahead of the 2027 governorship election.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the move has sparked tension between the governor and his predecessor, Umar Tanko Al-Makura, who faulted the decision, describing it as premature and not properly consulted within party structures.
Al-Makura, a prominent figure in the state’s political landscape, expressed displeasure that he only became aware of the endorsement through media reports. He argued that the decision should have involved wider consultation, warning that such early endorsements could undermine internal party processes.
He further noted that the APC had not begun its formal nomination process, insisting that declaring support for a candidate at this stage was inappropriate and ahead of schedule.
The controversy was further heightened by former Inspector-General of Police, Muhammad Adamu, who is also aspiring for the APC governorship ticket. He rejected the endorsement, stating that no individual has the authority to impose a candidate, and reaffirmed his intention to contest in the party primaries.
In response, Governor Sule, through his media aide, defended the endorsement, stating that it was consistent with political traditions in the state. He referenced past succession arrangements, including Al-Makura’s own endorsement of him, arguing that the current process was in line with established practice but being conducted more transparently.
The governor’s camp clarified that Senator Wadada remains a preferred aspirant and not the party’s official candidate.
Senator Wadada, reacting to the development, called for calm among party members, describing the situation as part of normal political competition. He also downplayed tensions with other aspirants, noting that the contest should be seen as a democratic process.
Meanwhile, support for Adamu continues to grow in parts of Nasarawa South, where youths, women, and stakeholders have openly backed his ambition, alongside broader endorsements for President Bola Ahmed Tinubu’s re-election bid.
Adamu, however, maintained that he remains firmly in the race, accusing some political actors of inconsistency in the unfolding succession dynamics.
The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has described as unnecessary the denial issued by the Christian Association of Nigeria (CAN) regarding an invitation allegedly extended to him for the groundbreaking ceremony of an ecumenical chapel at the Nnamdi Azikiwe International Airport, Abuja.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the Sultan’s media team maintained that an official invitation was duly sent to His Eminence requesting his attendance as Royal Father of the Day. The statement explained that the event also listed key dignitaries, including the Senate President, Godswill Akpabio, as Distinguished Guest of Honour, and Senator Oluremi Tinubu as Mother of the Day.
The Sultan’s office emphasised that his participation in the proposed Christian event would promote interfaith harmony, noting his role as Co-Chairman of the Nigerian Inter-Religious Council (NIREC). It added that globally, religious leaders often engage in events outside their faith traditions as part of efforts to encourage unity and peaceful coexistence.
The response follows an earlier clarification from CAN, which denied issuing any invitation to the Sultan and stated that the document circulating in public was not from the association. CAN further explained that the communication in question originated from the Office of the Secretary to the Government of the Federation (SGF) and insisted that it had no involvement in inviting the Sultan to the event.
While acknowledging that the SGF’s office was linked to the invitation process, the Sultan’s media team expressed concern over CAN’s denial, describing it as unnecessary and capable of creating misunderstanding, especially since the Sultan did not request to attend the ceremony.
The statement also urged religious bodies to focus on messages that strengthen unity and promote peaceful coexistence among Nigerians of different faiths and ethnic backgrounds.
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