Nigeria's Federal Mortgage Bank to receive N500 billion recapitalisation

Governor Abdullahi Sule of Nasarawa State urged the federal government and private investors to approve a N500 billion recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN), saying the injection would help bridge Nigeria’s estimated 28 million‑unit housing deficit. He argued that pension funds and other institutional investors could finance the recapitalisation.

FMBN reported that, under its partnership with Nasarawa, it has funded 1,590 housing units and disbursed over N9.5 billion in renovation loans to 10,601 civil servants, refunded N1.02 billion in National Housing Fund contributions to 5,462 retirees, and provided a N100 billion off‑taker guarantee for the President’s Renewed Hope Housing Programme. National Housing Fund collections rose to a record N152.4 billion in 2025.