By NIGPOST | February 26, 2025
The Federal Ministry of Women Affairs and the Federal Mortgage Bank of Nigeria (FMBN) have announced a strategic collaboration aimed at providing affordable housing finance solutions to empower women and increase their homeownership rates.
The initiative was unveiled on Tuesday when the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, hosted the Managing Director of FMBN, Mr. Shehu Usman Osidi, and his delegation at the Ministry’s headquarters in Abuja.
Bridging the Gender Gap in Homeownership
Highlighting the persistent issue of housing poverty among women, the minister emphasized that despite their significant contributions to society, many women still struggle to own homes due to financial constraints.
“Housing is a fundamental pillar of financial independence for women,” she stated, adding that the traditional belief that only men should provide shelter is outdated.
Drawing attention to her recent visit to Internally Displaced Persons (IDP) camps, the minister expressed deep concern over the harsh living conditions faced by women and girls, stressing the urgent need for sustainable housing solutions.
FMBN’s Commitment to Affordable Housing for Women
In response, FMBN MD, Shehu Usman Osidi, praised the minister’s efforts in advocating for women’s rights and empowerment.
He reaffirmed the bank’s dedication to reducing barriers to homeownership for women through innovative financing solutions.
“FMBN is fully committed to ensuring that more Nigerian women own homes and achieve economic stability,” Osidi said.
Through the National Housing Fund (NHF) scheme, FMBN offers low-interest mortgage loans tailored to meet the diverse needs of women and vulnerable groups.
Housing Finance Options Under the NHF Scheme
The FMBN housing solutions available to women include:
✅ Regular NHF Mortgage Loans – Affordable, low-interest homeownership loans.
✅ Individual Construction Loans – Financing for building personal homes.
✅ Home Renovation Loans – Support for upgrading existing properties.
✅ Cooperative Housing Development Loans – Enabling cooperative groups to acquire housing.
✅ Rent-to-Own Scheme – Helping salary earners transition from renting to ownership.
✅ Non-Interest Mortgage Products – Ethical financing for diverse housing needs.
Introducing the “Women in Housing” Initiative
As part of the partnership, FMBN proposed a “Women in Housing” initiative, which will focus on:
- Building women-led housing projects
- Engaging female professionals and artisans in housing construction
- Promoting financial inclusion and economic empowerment for women
The bank also called for policy recommendations to enhance affordable housing access for women, ensuring that no woman is left behind in the drive for housing inclusivity.
A Shared Vision for Women’s Empowerment
Expressing her enthusiasm, Minister Sulaiman-Ibrahim described the collaboration as a major step toward economic freedom for Nigerian women.
She emphasized that homeownership is key to breaking the cycle of poverty and ensuring that women—especially single mothers and heads of households—can secure financial stability.
As a token of appreciation, the minister presented souvenirs to the FMBN delegation, solidifying their commitment to this groundbreaking initiative.
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