The Federal Mortgage Bank of Nigeria (F.M.B.N) has initiated a rehabilitation process to revive about 46 abandoned housing projects nationwide.

The bank said this would be achieved through a partnership with Shelter Afrique Development Bank, a pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa.

The F.M.B.N Managing Director, Shehu Usman Osidi, stated this while hosting the management of Shelter Afrique Development Bank recently in Abuja, noting that the bank had made reviving the housing estates a priority.

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According to him, the intensified collaboration will help provide construction and mortgage financing to developers in Nigeria.

Osidi further noted that Nigeria, the second largest shareholder in the bank with about 15 per cent holding, will explore areas of funding to achieve its target of delivering 100,000 housing units to Nigerians this year.