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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.
Federal Government releases further details for the burial of the Ex president, Muhammadu Buhari.
It was shared that the burial will occur on Wednesday 16th of July, 2025.
This information was revealed in an official statement released by presidential aide Sunday Dare on X platform.
The statement briefly states that a committee will be set for the burial to be done properly and for the events to be held. The Federal Government then makes a list of the ministers needed to join this committee to hold a successful burial ceremony for Buhari.
It has been reported that two boys, aged 12 and 13, escaped from Boko Haram captivity after three years. The two boys arrived at the police station at 5:30 pm on July 12, 2025.
They described their story and how they escaped to the police, giving insight into what happened to them over the past few years.
A security analyst who was present at the narration gave a brief summary of what had occurred to the boys, sharing that they were kidnapped alongside their parents. However, their captors relaxed their guard earlier due to the boys’ stature and weakness.
The boys revealed how they trained other captives for combat, but they were both assigned to service the firearms. They also revealed their escape plan, which they had devised 10 months ago, and then took advantage of an opportunity to escape.
U.S. President Donald Trump has hailed Lionel Messi as the biggest football star in the world right now. Speaking after Chelsea’s dominant 3–0 win over PSG in the FIFA Club World Cup final on Sunday night, Trump praised the Argentine legend, calling him a global icon. While he still considers Brazilian legend Pelé the greatest of all time, Trump made it clear that Messi is the biggest name in football today.
He commended Major League Soccer for landing such a massive talent, saying, “Messi, yes, he’s a great star, probably the biggest soccer star on this planet. Our country is lucky to have him playing here every week.” Messi and his Inter Miami teammates took part in this year’s Club World Cup but were knocked out in the round of sixteen.
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