Minister, FMBN To Collaborate On Housing Financing Solutions

The Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, has praised the planned partnership between the Federal Ministry of Women Affairs and the Federal Mortgage Bank of Nigeria (FMBN), aimed at providing housing financing solutions that will empower women and enable them to become homeowners.
The minister made the announcement on Tuesday during a visit from the MD of the Bank, Mr. Shehu Usman Osidi, and his management team to the ministry’s headquarters in Abuja.

The minister highlighted housing poverty as one of the systemic barriers that women continue to face in Nigeria, despite their significant presence in the population. She welcomed the collaboration with the Federal Mortgage Bank of Nigeria as a means to find a lasting solution that will bridge the gender gap in home ownership.

Sulaiman-Ibrahim asserted that the traditional view that only men provide shelter is outdated, adding that lack of home ownership remains a significant obstacle for women in accessing financial capital. “Housing is a key pillar of women’s financial independence,” she stated.

Reflecting on a recent visit to Internally Displaced Persons (IDP) camps, the minister expressed her dismay at the discomfort experienced by women and girls, noting that this situation is also prevalent among families not residing in IDP camps.

“There is an urgent need to create housing solutions for women, and we must pursue a structured agenda to address this issue,” she emphasised.

Earlier, the MD/CEO of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, commended the Honourable Minister for her remarkable contributions to national development, stressing that under her leadership, the Ministry will continue to champion policies and initiatives that positively impact the lives of millions of Nigerian women.

He remarked, “Your appointment is a testament to your commitment to national service and to the upliftment of women in our society.”

The MD underscored that women face numerous barriers to home ownership and that FMBN is dedicated to overcoming these challenges by providing housing finance solutions that empower women and enhance their economic stability.

He explained that through the National Housing Fund (NHF) scheme, the Federal Mortgage Bank of Nigeria (FMBN) offers single-digit low-interest mortgage loans that cater to the diverse needs of Nigerians, including women and vulnerable groups.

While seeking the Ministry’s support in identifying key intervention areas for collaboration to ensure that no woman is left behind in the pursuit of housing inclusivity, the MD expressed FMBN’s readiness to deliver housing solutions to women.

He encouraged the Ministry’s management to collaborate on creating a unique model termed “Women in Housing.”

“Women in Housing is where we work together to build housing estates where the professionals and artisans are all women, promoting financial inclusion,” he stated.

The MD highlighted the crucial role women play in Nigeria’s development and their significant contribution to the national workforce.

He further discussed the various products offered by FMBN under the National Housing Fund (NHF) scheme, which provides affordable, low-interest loans for various groups, including women and vulnerable populations.

These products include:
– Regular NHF Mortgage Loans: Single-digit loans for homeownership.
– Individual Construction Loans: Capital to build personal homes.
– Home Renovation Loans: Support for renovating existing homes.
– Cooperative Housing Development Loans: Assistance for cooperative members to own homes.
– Rent-to-Own Schemes: Designed for steady-income workers to transition from renting to ownership.
– Non-Interest Mortgage Products: Ethical housing solutions tailored to client needs.

He requested the Ministry’s support in identifying intervention areas where FMBN can make a significant impact and invited policy recommendations that would further enhance affordable home ownership for women.

The Honourable Minister thanked the FMBN team for their support and acknowledged the challenges faced by underserved women, particularly those heading households. She emphasised that housing is a key dimension of poverty and a significant barrier to women’s economic independence, as it limits their access to finance and capital.

She shared her vision of ensuring that more women own property in their names and stressed the importance of developing housing solutions that address the unique needs of families.

The Honourable Minister expressed her enthusiasm about the partnership and the potential to realise a shared housing vision in collaboration with FMBN.

As a gesture of goodwill, she presented souvenirs to the FMBN delegation on behalf of the Ministry of Women Affairs.