Calculate your National Housing Fund contribution (2.5% of basic salary) and estimate your NHF mortgage loan eligibility, maximum amount, and monthly repayments.
The National Housing Fund (NHF) is Nigeria's primary government-backed housing finance programme, established by the NHF Act of 1992. It was created to address the country's massive housing deficit — estimated at over 17 million units — by mobilizing long-term funds for the provision of affordable housing to Nigerian workers.
Under the scheme, all Nigerian employees earning the national minimum wage (currently ₦70,000/month) or above are required to contribute 2.5% of their monthly basic salary to the NHF. Employers are responsible for deducting and remitting these contributions to the Federal Mortgage Bank of Nigeria (FMBN) through their bankers. Self-employed persons can also register and contribute voluntarily.
The key advantage of NHF is its highly subsidized mortgage rate of 6% per annum, compared to commercial mortgage rates of 18-25%. This makes homeownership significantly more affordable. The maximum loan amount is ₦15 million per individual, with repayment terms of up to 30 years. Couples who are both NHF contributors can access a joint loan of up to ₦30 million.
To apply for an NHF loan, contributors must have made regular contributions for at least 6 months and apply through a Primary Mortgage Bank (PMB). The property must be within Nigeria, have valid title documents, and be properly valued. FMBN processes applications and disburses funds through the PMB, which also handles loan servicing and repayment collection.
NHF contributions are tax-deductible under the Personal Income Tax Act, making them doubly beneficial — you save for a subsidized mortgage while reducing your current tax burden. When you reach retirement or decide not to use the NHF loan, your accumulated contributions (with interest) are refundable.
NHF contribution is 2.5% of your monthly basic salary. For example, if your basic salary is ₦300,000, your NHF contribution is ₦7,500 per month. This is deducted by your employer and remitted to FMBN.
The maximum NHF loan is ₦15 million per individual. If both spouses are NHF contributors, they can access a joint loan of up to ₦30 million. The actual amount you qualify for depends on your income, contribution history, and affordability assessment.
Yes. If you don't take an NHF loan, your accumulated contributions (plus interest) are refundable upon retirement at age 60, or if you opt out of the scheme after a specified period. You can apply through FMBN for a refund.