Sen. Aminu Tambuwal, Chairman of the Senate Committee on Land, Housing and Urban Development, has called for stronger funding for the Federal Mortgage Bank of Nigeria (FMBN) and a comprehensive review of government housing policies.
Tambuwal made the call on Wednesday at the FMBN Day held during the 2026 Africa International Housing Show (AIHS) Legacy Edition in Abuja.
He argued that inconsistent policies and inadequate funding had undermined the FMBN and other key housing institutions.
The senator said successive governments had weakened the housing finance system by creating agencies with overlapping mandates instead of strengthening existing institutions such as the FMBN and the Federal Housing Authority (FHA).
Tambuwal questioned the rationale behind establishing additional housing intervention platforms while existing institutions remained underfunded.
He argued that the government should channel available resources into strengthening the FMBN and the FHA rather than duplicating functions.
“I believe that the Federal Mortgage Bank has been suffering from what most government institutions have been suffering from — inconsistency of policies.
“When you have an institution like FMBN, I wonder why you will introduce family homes. I wonder why you will create the Ministry of Finance Incorporated (MOFI) through its Real Estate Investment Fund (MREIF).
“I am yet to appreciate the wisdom behind establishing them. We oversight them. I believe since you have FMBN and FHA, what you need to do is to strengthen them,” he said.
According to him, the Federal Housing Authority has not received budgetary allocations for years due to a policy that has made it difficult for the agency to perform effectively.
He also disclosed that key shareholders, including the Federal Ministry of Finance Incorporated (MOFI) and the Central Bank of Nigeria (CBN), were yet to fully meet their capital contribution obligations to the FMBN.
“So, how do you expect the Federal Mortgage Bank to perform optimally when its capital base has not been strengthened?” he asked.
Tambuwal appealed to President Bola Tinubu to review the government’s position on MOFI-backed housing initiatives and ensure that available resources are directed toward strengthening existing institutions, particularly the FMBN.
The lawmaker also pledged the readiness of the Senate Committee to fast-track the proposed Federal Capital Territory (FCT) Mortgage Bill before the end of the 10th National Assembly.
Responding to calls for legislative reforms, he said the committee would work with relevant stakeholders to ensure the bill is passed within the remaining months of the current National Assembly.
On land administration, Tambuwal called for a comprehensive review of the Land Use Act, describing the current framework as outdated and bureaucratic.
Drawing from his experience as former governor of Sokoto State, he said governors hold land in trust for the people and should ensure fair compensation to communities affected by government projects.
He noted that inadequate compensation often fuels disputes because affected landowners believe they are being shortchanged.
Tambuwal urged state governors to digitise land administration systems and accelerate the issuance of Certificates of Occupancy, saying efficient land administration would enable more Nigerians to access mortgages and other forms of credit.
He cited the establishment of the Sokoto Geographic Information System during his tenure as governor as an example of reforms that simplified land administration and improved service delivery.
The senator commended the Managing Director and Chief Executive Officer of FMBN, Shehu Osidi, for repositioning the bank and restoring confidence in the institution.
Earlier, FMBN Managing Director and Chief Executive Officer, Shehu Osidi, said the theme of this year’s event, “Leveraging Partnerships for Sustainable Affordable Housing for Low-Income and Informal Workers,” reflected the synergy needed to tackle Nigeria’s housing deficit.
Osidi noted that millions of Nigerians, particularly those in the informal sector, remained excluded from conventional mortgage financing because of irregular income patterns and stringent lending requirements.
According to him, addressing the country’s housing challenges requires deliberate partnerships among governments, financial institutions, developers, labour unions, cooperative societies and development finance institutions.
Osidi said housing remained a catalyst for economic growth, employment generation, financial inclusion and national development, stressing that affordable housing delivery cannot be achieved by government alone.
He disclosed that the bank had sustained the reforms initiated over the past year, recording significant improvements in corporate governance, financial management and service delivery through partnerships.
He commended the organisers of the Africa International Housing Show, adding that discussions at the event would focus on attracting long-term capital for affordable housing, among others.
