The Nigerian government has launched a N250 billion Ministry of Finance Incorporated Real Estate Investment Fund . This was contained in a statement through the Federal Ministry of Finance X handle on Thursday. The government said the initiative was designed to provide low-cost, long-term mortgage financing and stimulate economic growth through the housing and construction sectors. Presiding over the signing ceremony, the Honourable Minister of Finance, Mr.
This contrasts sharply with the high-interest, short-tenor loans currently offered by commercial banks. Giving a breakdown, Edun, the first series of the fund, amounting to N150 billion, is expected to drive private sector participation, with the second series set to raise an additional N100 billion. He noted that the programme aligned with President Bola Ahmed Tinubu’s vision to foster homeownership, create jobs, and support economic development.
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Nigeria needs $20bn yearly investment to hit N1trn economy target — Finance Minister, EdunThe Minister of Finance, Wale Edun, said Nigeria needs to invest $20 billion annually to achieve its economic targets by 2030. Edun disclosed this on Friday during the Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables for the Fourth Quarter of 2024, held in Abuja.
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