Abuja, Nigeria – The Federal Mortgage Bank of Nigeria recorded a historic N152.4 billion in National Housing Fund collections in 2025, representing a 48 percent increase from the N103 billion generated in 2024, its managing director has disclosed.
Okay News reports that Managing Director and Chief Executive Officer of FMBN, Shehu Osidi announced the figures on Wednesday in Abuja during a press briefing to mark his second year in office. He explained that upon assuming office, the executive management committed to repositioning the bank around four strategic pillars: financial sustainability, customer impact, operational efficiency, and institutional renewal, anchored on a seven point agenda. Before his tenure, the highest annual collection ever made into the fund was N100 billion, recorded in 2023.
The bank also grew its contributor base by registering over 139,000 new contributors in 2025, compared to 178,619 in 2024 and 113,577 in 2023. This brings the total number of new contributors under his two year tenure to well over 300,000 Nigerians. Refunds to beneficiaries also improved, with N15.6 billion paid to 55,068 contributors in 2025, up from N14.4 billion to 44,333 beneficiaries in 2024 and N13.2 billion to 40,426 beneficiaries in 2023.
Osidi revealed that the Oyo State Government approved the reintegration of its workers into the NHF scheme after 27 years, while Kano State, which exited in 2002, is close to full reintegration following a memorandum of agreement with the bank. In 2025, the bank financed 6,911 housing units, achieving 96 percent of its annual target, across various housing development initiatives. Project loan disbursements rose to over N79 billion in 2025, up from N31.5 billion in 2024, while individual NHF mortgage disbursements increased 38 percent to N8.2 billion.
The bank provided N100 billion in off taker guarantee and direct funding support for key projects under the Renewed Hope Housing Programme. In Lagos, N27 billion was allocated to the Ibeju Lekki Renewed Hope City, with N8 billion already disbursed for 252 completed units. In Abuja, N19.9 billion was approved for the Karsana Renewed Hope City, with N17 billion used to construct 864 units. Funding approvals have also been granted for projects in Enugu and other states.
Osidi stressed the need for recapitalisation to enable the bank to fully deliver on its mandate. The record NHF collections reflect renewed confidence in the scheme and strengthen the bank’s capacity to finance affordable housing nationwide. Sustained growth in NHF collections will depend on continued reforms and the reintegration of more state workers into the scheme.
