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Federal Government Unveils Diaspora Mortgage Scheme


The Nigerian government has launched the Diaspora Mortgage Housing Scheme in the UK, USA, and Canada. This scheme aims to provide housing solutions for Nigerian expatriates. The initiative is expected to address housing challenges faced by the diaspora.


The Diaspora Mortgage Housing Scheme, facilitated by the Nigerians in Diaspora Commission (NiDCOM) and the Federal Mortgage Bank of Nigeria (FMBN), offers Nigerians living abroad the opportunity to own homes in Nigeria without the need to physically return to the country¹. The scheme provides access to substantial mortgage funds, extending up to ₦50 million, with a favorable ten-year tenure and an enticing 6.9% interest rate.


Participants in the scheme can choose from various options, including the National Housing Fund (NHF) loan, Rent-to-Own, or the Individual Construction loan window. To be eligible, applicants must register with the NHF scheme and make monthly contributions for at least 12 months. This requirement ensures that participants are committed and financially prepared for homeownership.

The scheme also includes a streamlined application process, allowing Nigerians in the diaspora to select from a wide range of available houses online through the FMBN store. This digital approach simplifies the process and makes it more accessible for those living abroad.


The launch of this scheme is part of the Nigerian government's broader efforts to engage the diaspora community and leverage their financial resources for national development. By providing affordable housing solutions, the government aims to strengthen the bond between Nigeria and its global citizens, while also addressing the housing deficit in the country.

This initiative is expected to have a significant impact on the lives of many Nigerians living abroad, offering them a tangible connection to their homeland and an opportunity to invest in its future.



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