Politics

Federal Government Launches New Mortgage Fund for Affordable Homeownership; See Details

Published by admin on September 11th, 2024.

Federal Government Launches New Mortgage Fund for Affordable Homeownership; See Details

Wale Edun

The Ministry of Finance announced the introduction of a new mortgage fund designed to enhance access to affordable homeownership in Nigeria. The initiative, led by Finance Minister Mr. Wale Edun, is part of the broader One Million Homes Presidential Initiative.

Named the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), this fund aims to offer affordable mortgage solutions, particularly targeting pension account holders, to help more Nigerians achieve homeownership.

Edun highlighted the fund’s potential to deliver budget-friendly mortgage options to a wide range of pension holders. He also emphasized the importance of the meeting as a venue for stakeholders to share ideas and drive the initiative forward.

Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated, added that the MREIF will be market-driven while complying with all regulatory requirements.

The launch event, held at the Ministry’s headquarters, featured key figures from the pension and financial sectors, including representatives from ARM Pensions, FCMB Pensions, Trustfund, and NUPEMCO. The discussions focused on shaping the fund’s future and fostering economic growth through a robust real estate sector.

Notable attendees included Accountant General of the Federation, Dr. Oluwatoyin Maiden; Wale Odutola of ARM Pensions; Funmi Ekundayo, CEO of STC Trustees; Co-Coordinator of MREIF, Sani Yakubu; and other leaders from PAL Pensions, Vetiva Advisory, and Acce

ss Pensions.