On Tuesday, the Ministry of Finance announced the launch of a market-driven mortgage fund aimed at increasing access to affordable homeownership in Nigeria. Led by Finance Minister Mr. Wale Edun, this initiative is part of the One Million Homes Presidential Initiative.
The fund, named the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), aims to offer low-cost mortgage options, particularly targeting pension account holders, thereby allowing a wider segment of the population to achieve homeownership. Edun stressed the fund’s potential to deliver affordable mortgage solutions to a significant number of pension account holders.
He also underscored the importance of the meeting as a forum for open dialogue, allowing key stakeholders to share ideas and contribute to the initiative’s success.
Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated, provided further insights, stating that the MREIF is designed to be market-driven while complying with all regulatory requirements.
