FG Launches N250bn Real Estate Investment Fund for Affordable Housing
- Posted on January 02, 2025
- Real Estate
- By Samiat
FG Launches N250bn Real Estate Investment Fund for Affordable Housing
The Federal Government has rolled out a groundbreaking initiative to bridge Nigeria’s housing finance gap and promote economic growth through the N250bn Ministry of Finance Incorporated Real Estate Investment Fund (MREIF).
Key Highlights
1️⃣ Purpose of the Fund
• Long-term, low-cost mortgage financing with repayment terms of up to 25 years.
• Aimed at addressing the challenges of housing affordability and accessibility.
2️⃣ Structure of the Fund
• First Phase: N150bn to drive private sector participation.
• Second Phase: An additional N100bn will follow.
3️⃣ Vision
• Part of President Bola Tinubu’s economic blueprint to promote homeownership, create jobs, and drive growth in the real estate and construction sectors.
Event Overview
• Date: December 31, 2024.
• Venue: Ministry of Finance office, Abuja.
• Presided by: Wale Edun, Minister of Finance and Coordinating Minister of the Economy.
Public-Private Partnership Model
The fund will:
• Incentivize developers to build affordable homes.
• Stimulate job creation and commercial activity in the housing sector.
Dr. Armstrong Takang, Managing Director of MOFI, described the initiative as “transformative”, empowering Nigerians to achieve sustainable homeownership and build generational wealth.
Why It Matters
This initiative is a significant step towards reducing Nigeria’s housing deficit while fostering a more inclusive and accessible mortgage system.
The Federal Government has rolled out a groundbreaking initiative to bridge Nigeria’s housing finance gap and promote economic growth through the N250bn Ministry of Finance Incorporated Real Estate Investment Fund (MREIF).
Key Highlights
1️⃣ Purpose of the Fund
• Long-term, low-cost mortgage financing with repayment terms of up to 25 years.
• Aimed at addressing the challenges of housing affordability and accessibility.
2️⃣ Structure of the Fund
• First Phase: N150bn to drive private sector participation.
• Second Phase: An additional N100bn will follow.
3️⃣ Vision
• Part of President Bola Tinubu’s economic blueprint to promote homeownership, create jobs, and drive growth in the real estate and construction sectors.
Event Overview
• Date: December 31, 2024.
• Venue: Ministry of Finance office, Abuja.
• Presided by: Wale Edun, Minister of Finance and Coordinating Minister of the Economy.
Public-Private Partnership Model
The fund will:
• Incentivize developers to build affordable homes.
• Stimulate job creation and commercial activity in the housing sector.
Dr. Armstrong Takang, Managing Director of MOFI, described the initiative as “transformative”, empowering Nigerians to achieve sustainable homeownership and build generational wealth.
Why It Matters
This initiative is a significant step towards reducing Nigeria’s housing deficit while fostering a more inclusive and accessible mortgage system.
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