Nigeria Delivers ₦128bn Mortgages to 1,859 Families
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For decades, affordable mortgages remained out of reach for most Nigerians. A new government-backed housing fund has already unlocked ₦128 billion in financing across 25 states.
Nigeria’s housing finance push is gaining momentum after the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) facilitated ₦128 billion in affordable mortgage financing for 1,859 families across 25 states. The initiative forms part of President Bola Tinubu’s broader housing agenda aimed at expanding access to homeownership.
The programme addresses one of Nigeria’s longest-standing housing challenges: limited access to affordable long-term mortgages. Beyond supporting homeowners, the fund has also unlocked ₦221 billion in property value and helped drive new housing delivery nationwide. With a target fund size of ₦1 trillion, MREIF is expected to attract more institutional capital and significantly expand mortgage access in the coming years.
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