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N100b private sector cash for real estate
N100b private sector cash for real estate
Apparently to widen access to affordable housing for Nigerians, the Federal Government yesterday announced the launch of a N100 billion private sector-driven real estate financing scheme.
This initiative is part of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) and represents the second phase of funding under the programme.
MREIF aims to raise N1 trillion to support Nigeria’s housing sector, providing long-term, low-cost mortgage financing for homeownership.
The latest funding – Series 2 – is private sector-driven, allowing businesses and investors to contribute to the development of housing across the country.
One of the key benefits of the financing scheme is the provision of affordable mortgage loans with repayment periods of up to 25 years and interest rates set at 11-12 percent – significantly lower than the rates offered by commercial banks.
This is made possible through a blended finance structure, where public funding, sourced at one per cent, is combined with private sector investments to reduce borrowing costs.
MOFI is leading efforts to attract key private sector players, such as asset managers, financial advisers and issuing houses to raise the N100 billion from the capital market.
This second phase builds on the success of Series 1, which raised N150 billion, bringing the total funding secured so far to N250 billion.
Minister of Finance and Coordinating Minister of the Economy Wale Edun, stressed the importance of private sector involvement in boosting the housing sector.
Mr. Edun said: “The successful completion of Series 1 shows the government’s dedication to making homeownership accessible.
Now, with Series 2, we are inviting private investors to be part of this journey, creating jobs, improving infrastructure, and strengthening the economy.”
MOFI’s Managing Director/Chief Executive Officer (MD/CEO), Dr. Armstrong Takang, described Series 2 is a major step toward unlocking private capital for the housing market.
“By using blended finance, we are establishing a sustainable system for affordable homeownership that will benefit all Nigerians,” he said.
The Chairman of MOFI Board, Dr. Shamsudeen Usman, described MREIF as a landmark achievement in Nigeria’s housing sector.
“The Renewed Hope Agenda is focused on delivering sustainable homeownership opportunities for Nigerians, and MREIF is a major driver of this vision,” he said.
Adron Group Chairman Hails Dapo Abiodun’s Leadership at 66
The Chairman/Chief Executive Officer of Adron Group, Aare Adetola Emmanuel King, has extended his warm congratulations to the Executive Governor of Ogun State, His Excellency Prince Dapo Abiodun, CON, on the occasion of his 66th birthday.
In a goodwill message issued to commemorate the occasion, Aare EmmanuelKing described Governor Dapo Abiodun as a visionary leader, accomplished administrator, and distinguished statesman whose purposeful and people-oriented leadership continues to foster remarkable transformation, progressive governance, and sustainable development across Ogun State.
He noted that Governor Abiodun’s steadfast commitment to infrastructural development, economic advancement, youth empowerment, and the overall welfare of the citizenry has significantly positioned Ogun State as a foremost destination for investment, innovation, and socio-economic progress in Nigeria.
“On behalf of my family, the management, and staff of Adron Group, I sincerely felicitate with Your Excellency, Prince Dapo Abiodun, CON, on the occasion of your 66th birthday. Your exemplary leadership, humility, and unwavering dedication to public service remain highly commendable and inspiring. Ogun State has continued to experience substantial growth and development under your administration, while your contributions to governance and human capital development are truly noteworthy,” Aare EmmanuelKing stated.
He further offered prayers for God’s continued grace, wisdom, strength, and good health for the Governor as he continues to render selfless service to Ogun State and the nation at large.
Aare EmmanuelKing also wished Governor Abiodun many more years of impactful leadership, peace, and fulfillment in service to humanity.
Adron Homes Felicitates Muslims on Eid Celebration
Adron Homes & Properties has congratulated Muslim faithful across Nigeria and around the world on the occasion of Eid, urging them to continue embracing the virtues of peace, sacrifice, love, and unity that the season symbolizes.
In a statement issued by the management of Adron Homes & Properties, the company described Eid as a sacred period that promotes spiritual renewal, compassion, gratitude, and harmonious coexistence among people irrespective of tribe, religion, or social status.
The foremost real estate company noted that the values of selflessness, obedience, and generosity demonstrated during the holy season remain essential ingredients for national growth and societal development.
According to the statement, Nigerians should use the festive period as an opportunity to strengthen bonds of brotherhood, extend love to the less privileged, and pray for enduring peace and economic prosperity in the country.
Adron Homes further reaffirmed its commitment to providing affordable luxury homes and building sustainable communities that promote comfort, security, and family values for Nigerians at home and abroad.
The company prayed for divine blessings, joy, and fulfillment for all Muslim faithful celebrating Eid and wished them a peaceful and memorable celebration.
RERAPAN CELEBRATES AMB. ENGR. (DR.) EMMANUEL ADEJIDE FAJUMO ON HIS BIRTHDAY
The Real Estate Reporters and Publishers Association of Nigeria (RERAPAN) has extended the association warm congratulations to Amb. Engr. (Dr.) Emmanuel Adejide Fajumo PhD, the Chairman, Oinz Homes and Properties Ltd on the occasion of his birthday celebration.
In a congratulatory message, Real Estate Reporters and Publishers Association of Nigeria praised Amb. Engr. (Dr.) Emmanuel Adejide Fajumo PhD, for his Outstanding dedication and immense contributions to the Nigerian Real Estate sector.
RERAPAN described the celebrant as a shining example in the business community, whose passion and commitment have left an indelible mark on the Real Estate Industry in Nigeria.
“You are indeed a source of inspiration to your generation and a shining example within the business environment”.
There is no doubt that you have written your name in gold and have revolutionized the Nigeria Real Estate Industry.
The National President of RERAPAN, Mr. Okpe Anthony Okpe further describe Amb. Engr. (Dr.) Emmanuel Adejide Fajumo PhD, the Chairman, Oinz Homes and Properties Ltd as the Most Media friendly and Philanthropic Real Estate Personality and Real Estate company in Nigeria.
RERAPAN offered prayers for good health, greater accomplishments, and many more remarkable years ahead for the business mogul.
Inconclusion, He also said RERAPAN looks forward to partner and have a cordial working relationship with Oinz Homes and Properties Ltd.
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