News
Nigerian Government Launches N250 Billion Fund for Affordable Housing and Economic Growth
The Nigerian government has officially launched the N250 billion Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF).
The announcement was made on Thursday via a statement from the Federal Ministry of Finance’s official X account.
According to the government, the fund’s primary goal is to provide low-cost, long-term mortgage financing, particularly focusing on the housing and construction industries, which are vital sectors for job creation and economic development.
At the signing ceremony, the Honourable Minister of Finance, Mr. Wale Edun, stated the importance of the initiative in bridging the country’s significant housing finance gap.
He explained that the new fund would offer mortgages with terms of up to 25 years, a stark contrast to the short-term, high-interest loans typically provided by commercial banks.
This longer repayment period is expected to make homeownership more accessible and affordable for Nigerians.
Edun also shared details about the fund’s structure, revealing that the first series, worth N150 billion, aims to attract substantial private-sector investment.
A second series, which will raise an additional N100 billion, will follow.
The initiative is closely aligned with President Bola Ahmed Tinubu’s vision to promote widespread homeownership, create jobs, and drive economic growth, particularly in the construction and real estate sectors.
Armstrong Takang, the Managing Director of MOFI, also spoke on the impact of the initiative, emphasizing that the MREIF will allow Nigerians to build generational wealth through sustainable homeownership.
News
Barack Obama Says Things Could Be Better With Women in Charge
Former US President and first Black president, Barack Obama, speaks on leadership and gender. He spoke about how it would be nice for women to be in charge every now and then, as it would strike a balance and advance the government.
“Even when I was President, I sometimes fantasized about if you put women in charge of every government for like two years, and then just kind of saw, ‘All right, how are things going?’”
“I have a strong belief that things wouldn’t be perfect, but they’d be better. I’m confident about that. I really do,” he added.
News
“Nigerians Have Borne Some Real Costs” — Mohammed Idris on Tinubu’s Reforms
Minister of Information and National Orientation, Mohammed Idris, speaks on the state of the country and President Tinubu’s reign.
He analyses it and shares how Tinubu has made tough decisions. “About three years ago, President Bola Tinubu assumed office amid some very significant and structural challenges, and physical challenges.”
“His administration chose to confront the long-standing distortions rather than postpone them, and those decisions were indeed very difficult and were not politically convenient. And because of those decisions, Nigerians have borne some real costs.”
“Today, however, Nigeria is moving from the difficult work of reforms and stabilisation towards a new phase of growth and shared prosperity.”
News
“This Will Be Their Christmas Gift” — Wike Speaks on Abuja Road Projects
Minister of the Federal Capital Territory, Nyesom Wike, speaks on the road projects in Abuja and their completion. He shared that they will be completed and described them as Tinubu’s Christmas gift to citizens.
“We have promised the residents that this will be their Christmas gift by Mr President as part of their Christmas gift so that they’ll go back home and enjoy their Christmas celebration.
“You can imagine the happiness of those who stay here. You know that with these roads, the economy of the affected communities will change,” he said.
-
Fashion8 hours agoGallery: Some of the Fits Spotted at Milan Fashion Week
-
Fashion12 hours agoGallery: Beverly Naya in Different Styles & Vibes
-
Politics11 hours agoAnambra Commissioner Law Mefor Speaks on Peter Obi and Soludo
-
Entertainment10 hours agoOmowunmi Dada Opens Up About Ending Relationship Over Religious Differences
-
Health12 hours agoThe Rise of Fake Products in Nigeria: How Safe Are We?
-
News9 hours agoBarack Obama Says Things Could Be Better With Women in Charge
-
Sport12 hours agoLamine Yamal Says Pau Cubarsí Deserves Ballon d’Or Recognition
-
Entertainment11 hours agoActor Olaide Olabanji Shows Support for Peter Obi For Upcoming Election
