A leading financial institution in the West Africa sub-region, FirstBank Plc, restates its commitment to driving growth through sustainability while earmarking N1 trillion intervention reshaping access that makes home ownership possible for Nigerians with single-digit interest rate facility
By Edu Abade
FirstBank of Nigeria Plc has affirmed that sustainability has become a critical priority for businesses and governments across the world, driving growth, innovation and positive change. It stressed that as the world grapples with climate change, social inequality and economic uncertainty, organizations are recognizing the importance of adopting sustainable practices that balance Environmental, Social and Governance (ESG) considerations.
In Nigeria, the sustainability agenda has become a mainstay, with companies like FirstBank leading the charge. As the leading financial institution in West Africa, FirstBank has made significant strides in promoting sustainability/ESG, with notable achievements in renewable energy, financial inclusion, and environmental conservation. The bank’s sustainability initiatives are anchored on three pillars: education, health and welfare; diversity and financial inclusion; and responsible lending, procurement, and climate initiatives.
One of the bank’s notable achievements is its investment in renewable energy. In 2025, FirstBank invested over $9 million in solar home projects across Africa, providing clean and affordable energy to communities. The bank also supported modular power plants with over N15 billion, enhancing energy access and reducing reliance on fossil fuels.
Additionally, FirstBank fulfilled its three-year commitment with the Nigerian Conservation Foundation (NCF) to plant 51,000 trees across Nigeria, promoting biodiversity preservation and absorbing approximately 720 tonnes of carbon dioxide.
The bank’s sustainability initiatives extend beyond environmental conservation. Over 1 million students have been impacted with financial literacy skills, empowering them to make informed financial decisions and secure their futures. The bank partnered with CFA Society Nigeria on the CFA Universities Ethics Challenge. It was also a major partner of the 15th Junior Achievement Company of the Year competition, presenting the FirstBank CEO award to Team Mauritius (Plantura).
FirstBank has also invested in leadership development for over 2,000 female employees through the FirstBank Women Network, promoting diversity and inclusion in the workplace. The bank screened 340 corporate transactions for ESG risks worth almost ₦5 billion and $340 million for sustainability risks within the year, further integrating ESG considerations into its credit framework. The bank’s commitment to sustainability earned it numerous international awards and recognitions, including Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, for the second time in a row.
Its commitment to climate governance was demonstrated in its corporate membership of Climate Governance Initiative (CGI) Nigeria, where the bank is a member of the Advisory Board. The bank is also part of the Steering Committee, overseeing operations and strategy. It participated in the Directors’ Engagement Series and led the adoption of IFRS S1 and S2 standards for transparent sustainability disclosures. FirstBank has implemented these standards, enhanced board oversight via its Board Risk Management Committee, and integrated climate considerations into risk management and decision-making.
As FirstBank continues to drive sustainable development in Africa, its efforts serve as a model for other financial institutions to follow just as the bank’s achievements demonstrate that sustainability and business growth can go hand-in-hand, creating value for stakeholders and contributing to a more equitable and prosperous future. Looking ahead, FirstBank plans to expand its sustainability efforts through strategic partnerships and innovative solutions. The bank aims to increase its investment in renewable energy projects, expand its financial literacy programmes, and promote sustainable business practices
Interestingly, the bank has announced a home ownership programme for Nigerians with single-digit interest rate loan, saying that for millions of Nigerians, homeownership has long felt like an ambition deferred.
“Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream. But that narrative is quietly changing. Thanks to FirstBank,” a statement from the bank said.
On the N1 trillion intervention reshaping access, it says, “In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria. Backed by Federal Government’s N1 trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
Over 9.75 percent Interest Rate in a 30 percent Lending Environment: MREIF is priced at 9.75 percent per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for salary earners, entrepreneurs and the Diaspora, the MREIF mortgage facility has been structured to be inclusive and it is available to salary account holders, business owners and customers in the Diaspora. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Five Game-Changing Facts About FirstBank’s MREIF Home Loan: For many Nigerians, home ownership has always felt like a long dream parked somewhere between someday and maybe. However, the MREIF Mortgage Loan by FirstBank of Nigeria is quietly changing that narrative.
Here are five things to note: Designed for Real People: This is not a luxury only scheme. It is structured to help middle income earners move from rent payments to ownership with a manageable repayments plan.
Single-Digit Interest Is Real (Yes, Really): At 9.75 percent per annum, this isn’t your typical Nigerian mortgage with rates that make your eyes water. In a market where double-digit interest is the norm, this government-backed rate feels almost like a financial hack.
It is a step toward financial security: Rent is an expense. A mortgage is an asset building strategy. This loan bridges the gap between today’s income and tomorrow’s equity.
The Diaspora Dream Is Alive: Nigerians abroad, take note; you can access this too. All you need is credit scores from international agencies like Equifax (plus a few extra documents) and that Lagos or Abuja home isn’t just a retirement fantasy anymore. It turns real.
Your Down Payment Just Got Smaller: Forget saving 30-40 percent upfront. MREIF requires just 10 percent equity contribution. That ₦100 million home? You need ₦10 million and not ₦30 million. The barrier to entry has never been this low for genuine homeownership.
