The Ministry of Finance has announced plans to launch a market-driven mortgage fund aimed at increasing access to affordable homeownership in Nigeria.
This initiative is led by Finance Minister Wale Edun and is part of the One Million Homes Presidential Initiative.
The fund, called the Ministry of Finance Incorporated Real Estate Investment Fund, will provide low-cost mortgage options, particularly for pension account holders, enabling a broader segment of the population to own homes.
Minister Edun emphasized the fund’s potential to offer cost-effective mortgage options for a large segment of pension account holders.
He also highlighted the importance of the meeting as a platform for open dialogue, allowing key stakeholders to exchange ideas and contribute to the initiative’s success.
Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated, elaborated on the fund’s design, stating that it will be market-driven while adhering to all regulatory standards.
A high-level meeting was held at the Ministry’s headquarters, bringing together key stakeholders from the pension and financial sectors, including representatives from ARM Pensions, FCMB Pensions, Trustfund, and NUPEMCO.
Discussions during the meeting focused on shaping the future of the fund and promoting economic growth through a robust real estate sector.
Prominent leaders in attendance included Accountant General of the Federation Dr. Oluwatoyin Maiden, Wale Odutola of ARM Pensions, and others from institutions like PAL Pensions, Vetiva Advisory, and Access Pensions.
