MREIF has raised N250 billion in its pilot fundraising round to address Nigeria’s housing finance gap. The initiative, supported by institutional investors, aims to provide long-term mortgage financing with favorable terms, moving closer to its target of N1 trillion. This effort reflects strong demand for structured housing finance solutions in Nigeria, marking a significant transformation in the sector.
The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has successfully raised N250 billion in its preliminary fundraising round to address Nigeria’s significant housing finance deficit. This achievement was announced by Sani Yakubu, executive director (co-ordinator) of MREIF, highlighting robust involvement from private sector investors.
The successful fundraising by MREIF represents a vital step towards mitigating Nigeria’s housing finance challenges. With a total of N250 billion raised from private sector investors, the initiative aims to enhance access to affordable housing. The program’s design mixes public funding and private investments to lower housing costs, marking a transformative phase for Nigeria’s housing sector.
Original Source: www.premiumtimesng.com
