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MOFI subscribes to N150bn real estate fund to address Nigeria’s housing deficit
The Ministry of Finance Incorporated (MOFI) has subscribed to the N150 billion series 1 offering under the MOFI real estate investment fund (MREIF) as the sponsor and anchor investor.
Dec 20, 2024
AfDB: Demand for housing in Africa will create $1.4trn investment opportunity by 2050
Akinwumi Adesina, president of the African Development Bank (AfDB), says Africa presents a unique investment opportunity that cannot be ignored. Adesina spoke at the opening ceremony of the 2024 Africa Investment Forum (AIF) Market Days on Wednesday in Rabat, Morocco. Highlighting Africa’s potential, he said the continent’s food market is expected to grow to $1 trillion by 2030, and demand for infrastructure presents an annual investment opportunity of at least $170 billion.
Dec 5, 2024
Collaborate with MOFI on Real Estate Investment Fund – Housing Minister Charges FMBN, NMRC, FHFL
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has urged the Federal Mortgage Bank of Nigeria (FMBN), Nigeria Mortgage Refinance Company (NMRC), and Family Homes Funds Limited (FHFL) to collaborate with the Ministry of Finance Incorporated (MOFI) on the newly approved Real Estate Investment Fund. The Minister emphasized the importance of collective efforts to address Nigeria’s housing deficit and improve affordable housing access.
Dec 5, 2024
Minister Urges Innovation, Synergy To Boost Housing Sector
Nigeria’s Minister of Housing and Urban Development, Mr Ahmed Musa Dangiwa, has called for increased innovation and collaboration among mortgage bankers and brokers to enhance Nigerians’ access to affordable housing loans. He urged for creative solutions that can help broaden the availability of loans, ensuring more citizens achieve home ownership.
Dec 5, 2024
MOFI to leverage capital market in funding housing projects
• As group urges govt to review outdated housing, mortgage laws Fresh facts have emerged that the Ministry of Finance Incorporated (MOFI) will leverage the capital market to address the country’s housing deficit and secure funding for large-scale housing projects.
Dec 5, 2024
MBAN Applauds FG’s N250 Billion Mortgage Initiative for Affordable Housing
Mortgage Banking Association of Nigeria (MBAN) has commended the Federal Government of Nigeria for the approval of a N250 billion Mortgage and Real Estate Investment Fund (MREIF).
Nov 21, 2024
Housing Deficit: FG approves N250b Real Estate Investment Fund
The Federal Government on Thursday approved the establishment of a Ministry of Finance Incorporated Real Estate Investment Fund, with an initial N250 billion to provide low-cost, long-term mortgages to Nigerians desirous of acquiring houses. The approval was disclosed by the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. Minister of Finance, Wale Edun, while briefing newsmen, said the fund is the basis for the revival and return of long-term mortgage financing to the Nigerian economy.
Nov 17, 2024
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