President Tinubu Launches N100b Housing Finance
New Financing for Housing in Nigeria
In a bold step to address the issue of inadequate finance for housing projects in Nigeria, the federal government has launched a N100 billion private sector led real estate financing scheme to expand access to affordable housing for Nigerians.
This is was announced via the President’s Official X handle in Abuja today Tuesday February 11,2025.
This initiative is part of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) and represents the second phase of funding under the programme.
MREIF aims to raise N1 trillion to support Nigeria’s housing sector, providing long-term, low-cost mortgage financing for homeownership.
The latest funding, Series 2, is private sector-driven, allowing businesses and investors to contribute to the development of affordable housing across the country.
More bold initiatives are speculated to be underway.
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