FMBN, Ebonyi Plan 800-Unit Workers’ Housing Estate

By Modupe Gbadeyanka

Plans are underway to develop an 800-unit workers’ housing estate in Ebonyi State, with funding support from the Federal Mortgage Bank of Nigeria (FMBN) through a Public-Private Partnership (PPP) arrangement.

‎A statement signed by FMBN’s Head of Corporate Communications, Mr Joe Abuku, disclosed that officials of the state government and the bank met at the Government House in Abakaliki, the state capital, on Wednesday, August 19, 2026.

The Governor of Ebonyi State, Mr Francis Nwifuru, said he was glad to receive the chief executive of FMBN, Mr Shehu Osidi, represented by the Executive Director of Business Development and Portfolio Management, Mrs Chinenye Chinedu Anosike, to the state.

It was agreed that the housing estate project could be scaled up to 3,000 units in subsequent phases from the initial 800 units.

‎Business Post reports that under the arrangement, the state government would provide suitable, titled and unencumbered land, together with the requisite on-site and off-site infrastructure, while FMBN will make available the necessary financing and an accredited developer to undertake the development and construction of the estate.

‎The goal, according to FMBN, is to provide a sustainable platform for delivering decent, affordable and accessible homes to workers across the state, while complementing the housing, economic and social development priorities of the Governor’s administration.

‎The arrangement is expected to strengthen the financing framework and facilitate seamless access to mortgage finance for eligible beneficiaries.

‎‎Highlighting FMBN’s interventions in Ebonyi State, Mr Osidi said the bank had financed over 340 housing units under its Construction Finance Loan, with investments exceeding N2.8 billion, adding that the lender had also disbursed over N1.9 billion in Home Renovation Loans to 2,525 civil servants, while N29.8 million had been disbursed under the Rent-to-Own Scheme, in addition to over N508 million refunded to 3,218 NHF beneficiaries.

‎‎“FMBN looks forward to deepening its partnership with Your Excellency’s administration and other relevant stakeholders to identify and implement practical, innovative and sustainable interventions that will expand access to affordable housing finance, accelerate housing delivery and promote homeownership across Ebonyi State,” he stated.

‎In his remarks, Mr Nwifuru welcomed the proposed partnership and reiterated his administration’s commitment to expanding access to affordable housing in Ebonyi State.

He particularly highlighted the impact of rising building material costs and called for collaboration with relevant professional and regulatory bodies to promote modern housing designs, quality construction materials and innovative housing solutions, including high-rise developments to maximise available land.

‎‎The Governor subsequently constituted a technical session involving relevant members of the State Executive Council and FMBN delegates to finalise modalities for the proposed housing initiative.