FMBN, Ebonyi plan 800-unit workers' housing estate
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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 arrangement.
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. Governor 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.
It was agreed that the housing estate project could be scaled up to 3,000 units in subsequent phases from the initial 800 units. 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.
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. He added that the lender had 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.
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 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.