The Federal Mortgage Bank of Nigeria (FMBN) has kicked off 2026 on a strong note, exceeding key performance targets and achieving over 85% overall delivery in Q1.
At the Q1 performance review of the Federal Ministry of Housing and Urban Development, the Bank, led by its Managing Director/Chief Executive, Shehu Usman Osidi, presented an impressive scorecard.
The review meeting was convened to validate performance data, assess progress, recognize outstanding achievements and reinforce collaboration among stakeholders in line with Presidential Priorities and Ministerial Deliverables.
FMBN exceeded its target for funding support to housing construction, achieving ₦14.7 billion against a target of ₦13.7 billion. The Bank also delivered 2,218 housing units, surpassing its quarterly target of 1,800 units across projects at varying stages of completion.
In the area of mortgage financing, FMBN approved ₦2.49 billion in loans to Primary Mortgage Banks (PMBs), while 4,689 Nigerians accessed National Housing Fund (NHF) loans within the period.
The performance earned commendation from the Permanent Secretary, Dr. Shuaib Muhammad Belgore, who encouraged the Bank and other agencies to build on the Q1 momentum and deliver even stronger results in the second quarter.
Confirming the reported figures, Osidi emphasized the importance of clearly defining stakeholder targets against each deliverable to further enhance performance outcomes and accountability.
The Q1 review forms part of ongoing efforts to track progress and ensure effective delivery of the housing agenda of President Bola Ahmed Tinubu’s administration.
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