Issues pertaining affordability of housing in the country has been a perennial problem that has seemed difficult to solve, going by different housing policies by respective governments that have come and gone. Some of these policies led to the formation of the Federal Mortgage Bank of Nigeria (FMBN) in1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria.

Part of the housing innovations of the FMBN to ensure affordable housing provision for Nigerians is the creation of the National Housing Policy, a Policy created by Act 3 of 1992 established the National Housing Fund (NHF).
Section 2 of the Act outlines the aims and objectives of the fund. Sections 20, 21 and 22 defines the offences and penalties for non-compliance. Act 3 was amended to bring it in line with new realities aimed at strengthening the National Housing Fund.

However, a pertinent question that needs to be asked, has the NHF met the housing yearnings of Nigerians clamoring and hoping to own their homes? Has the NHF really been flexible or rigid to Nigerians? Do Nigerians believe that the NHF policy be made optional or compulsory? Do Nigerians think that the recapitalization value of the FMBN be increased from what it is presently?

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