AG Mortgage Bank eyes 20% returns, targets 1m homes

AG Mortgage Bank Plc (AGMB) has unveiled an ambitious five-year growth plan aimed at delivering one million mortgages by 2030 while generating a 20 per cent return on equity (RoE) for shareholders and expanding its footprint across Nigeria’s fast-evolving housing finance ecosystem. The strategy, anchored on Project Momentum 2025–2030, positions AGMB for a major transformation […]

AG Mortgage Bank Plc (AGMB) has unveiled an ambitious five-year growth plan aimed at delivering one million mortgages by 2030 while generating a 20 per cent return on equity (RoE) for shareholders and expanding its footprint across Nigeria’s fast-evolving housing finance ecosystem.
The strategy, anchored on Project Momentum 2025–2030, positions AGMB for a major transformation into a diversified group structure spanning mortgage finance, housing microfinance, real estate development, insurance, brokerage, and rental housing services.
The bank stated that the plan is designed to significantly grow its customer base, expand its loan portfolio and lead the push for green and sustainable housing in Nigeria.
AGMB outlined these objectives in its Q3 2025 Market Intelligence Report (MIR), which provides insights into economic trends shaping Nigeria’s housing and real estate sectors. The report highlights growing investor interest in real estate as a hedge against inflation and a portfolio diversification tool, supported by moderating inflation and stabilising interest rates.
According to the report, the sheer scale of Nigeria’s residential market underscores the opportunity ahead. The residential segment alone is projected to be worth $2.25 trillion by 2025, validating the strong underlying demand aligned with AGMB’s target of one million mortgages by 2030.
Beyond commercial growth, the bank says it is positioning itself as a key enabler of Nigeria’s national housing agenda by expanding access to affordable homeownership and fostering sustainable communities capable of driving long-term economic prosperity.

AGMB’s Market Intelligence Report further projects that Nigeria’s real estate sector—already a major contributor to economic output—will experience robust growth over the medium term.

As of 2025, the market is valued at approximately $2.61 trillion, with a projected compound annual growth rate (CAGR) of 6.87 per cent between 2025 and 2029, reaching an estimated $3.41 trillion by 2029. Growth is expected to be driven by rapid urbanisation, infrastructure investment and ongoing policy reforms.

Speaking on the report, Ngozi Anyogu, Managing Director and Chief Executive Officer of AG Mortgage Bank Plc, described the Q3 edition as arriving at a defining moment in the bank’s history.

“In September 2025, we proudly celebrated our 20th anniversary—two decades marked by unwavering dedication, impactful innovation and transformative service to millions of Nigerians,” Anyogu said.

“From our inception, AG Mortgage Bank has evolved into a trusted institution synonymous with tailored financial solutions that meet the dynamic needs of individuals, businesses and communities,” he added.

He stated that the bank remains committed to building long-term value and shaping Nigeria’s housing finance industry through integrity, innovation and measurable impact.

As part of its growth drive, AGMB recently showcased a range of new products, including treasury solutions for institutional investors, sustainability-focused offerings supporting Nigeria’s green development goals, and digital-first platforms aimed at empowering SMEs and entrepreneurs.

The Q3 2025 Market Intelligence Report also points to strengthening sector fundamentals. The construction sector recorded real growth of 5.27 per cent in Q2 2025, while real estate contributed 12.80 per cent to Nigeria’s GDP, expanding by 3.79 per cent during the period.

Looking ahead, the outlook for 2025 remains positive, with the real estate sector expected to grow between 6 and 8 per cent, led by residential housing projected to expand at a CAGR of 7.55 per cent, reaching $3.01 trillion by 2029. Urban population growth—particularly in Lagos, which is projected to hit 24 million residents by 2030, alongside Abuja and Port Harcourt—continues to fuel housing demand.

Against the backdrop of renewed macroeconomic stability and government-backed housing reforms, AG Mortgage Bank says it is uniquely positioned to scale its impact.

With more than two decades of experience in affordable and sustainable housing finance, the bank aims to convert strong mortgage origination capacity into securitised, investor-grade assets while expanding access to green, inclusive and technology-enabled housing solutions across Nigeria.