The Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi has called for a tax on unoccupied properties to help bridge Nigeria’s housing gap.
He made this proposal during a press briefing marking his one-year anniversary at the bank’s headquarters in Abuja.
Osidi stressed that taxing vacant homes would push property owners to rent or sell, boosting the supply of affordable housing.
“This policy could unlock thousands of empty homes, giving more Nigerians a chance at decent living conditions,” he said.
Under his leadership, FMBN has ramped up efforts to make homeownership accessible. The bank recently signed a landmark agreement with the Kano State Government, bringing civil servants back into the National Housing Fund (NHF) Scheme.
Through the NHF, FMBN offers low-interest mortgage loans tailored to low and middle-income earners, including single-digit mortgages, home renovation loans, rent-to-own schemes, and non-interest products, all aimed at making affordable housing a reality for millions of Nigerians.
