(FHA MB) The Federal Housing Authority Mortgage Bank has announced a bold ₦100 billion expansion strategy aimed at deepening its footprint in Nigeria’s housing finance sector and bridging the country’s wide housing deficit.
The bank’s Managing Director, Hayatudeen Auwal, disclosed the plan on Tuesday at the commissioning of FHA MB’s new corporate headquarters in Abuja. According to him, the initiative will see the bank open 20 additional branches across the country within the next three years, scale its loan portfolio to ₦100 billion, and grow its active customer base to 100,000 families.
“Our target is clear: 20 new branches, 100,000 active families on our books, and a ₦100bn loan portfolio. With the unwavering support of our Chairman, FHA MB is now better positioned to unlock the full housing development financing window to support Nigerians,” Auwal said.
He described the move as a continuation of the bank’s long-standing mission to expand access to affordable mortgage financing while maintaining financial prudence. He noted that the institution has already recorded significant milestones, including the disbursement of over ₦27 billion in mortgages to 3,427 Nigerians and facilitating access to home loans for more than 6,000 citizens through the PENCOM retirement savings window.
“Despite the size of our loan portfolio from the National Housing Fund, we have never defaulted on repayments or on our objectives. That credibility and consistency have cemented FHA MB’s reputation in the financial system,” he added.
Auwal further highlighted the bank’s contribution to national development goals, aligning with President Bola Tinubu’s call for a $1 trillion economy. He stressed that the housing sector is central to achieving this vision, and FHA MB intends to play a pivotal role.
As part of its broader growth agenda, the bank is preparing to launch a Diaspora Mortgage Project to enable Nigerians abroad to own homes back home. It is also exploring strategic partnerships with pension funds, insurance firms, and international development agencies. These collaborations, Auwal said, will help mobilize long-term financing and strengthen the bank’s position as a key player in the mortgage industry.
Looking ahead, the bank is working toward securing a national banking licence. The Central Bank of Nigeria has already provided FHA MB with a checklist of requirements, and Auwal expressed confidence that the institution would soon achieve national bank status.
Nigeria’s housing crisis remains one of the most pressing socio-economic challenges. Current estimates place the deficit between 20 million and 28 million units, leaving millions of citizens trapped in slums and informal settlements. Analysts warn that the shortage continues to fuel poverty and inequality, underscoring the urgent need for innovative financing solutions.
With its new strategy, FHA Mortgage Bank hopes to not only expand its institutional reach but also to accelerate the delivery of affordable housing and support the government’s broader housing agenda.
