An Assessment of Housing Delivery in Nigeria: Federal Mortgage Bank Scenario

In recent times the federal mortgage bank spite of it role in housing delivery has recorded little or no success which is the major concern of this paper to critically assess the extent to which the federal mortgage bank has recorded success in housing delivery in Nigeria. Information on the extent of housing delivery was obtained from federal ministry of statistic and federal mortgage banks. However, findings indicate that in 2002 to 2005, the mortgage finance bank was able to mobilized N19.175 billion compared to 1992 to 2002 with a value of N11.451 billion showing a growth rate of 82%. It was discovered that the bank granted loan value of N4.531 billion to 4,151 national housing fund to contributors to either build or renovate their houses. Nevertheless, the mortgage finance bank has recorded little or no success but has appreciably improved in terms of fund mobilization which has aided increase in housing delivery in Nigeria. Key words: Housing delivery; Mortgage bank; Finance; Nigeria; Government