The Ministry of Finance on Tuesday unveiled plans for a market-driven mortgage fund aimed at expanding access to affordable homeownership in Nigeria. Spearheaded by the Minister of Finance, Mr. Wale Edun, the initiative is part of the One Million Homes Presidential Initiative. The fund, known as the Ministry of Finance Incorporated Real Estate Investment Fund, is designed to...
The Nigeria Mortgage Refinance Company has restated its commitment to providing interim housing data to aid decision-making, aimed at addressing the country’s housing deficit. The Chief Executive Officer of NMRC, Kehinde Ogundimu, stated this during the inauguration of a new joint steering committee on housing data in Abuja recently. To ensure the continuity of data provision,...
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has inaugurated a 13- member Steering Committee on the National Housing Data Centre in Nigeria, Tuesday, August 20th, 2024. Speaking at the inauguration, Arc.Dangiwa stated that fixing Nigeria's housing data problem is a top priority under the Renewed Hope Agenda of President Bola Ahmed Tinubu. He explained that the...
The Federal Mortgage Bank of Nigeria (FMBN) has disclosed that it has so far disbursed over N440 billion in various housing schemes and has refunded over N84 billion to persons exiting the National Housing Fund (NHF). Speaking in Abuja on the occasion of the FMBN Day at the 18th Africa International Housing Show , Managing Director and Chief Executive of the bank, Mr Shehu Osidi,...
Lagos State Government has opened an amnesty window on Planning Permits in the form of a three-month moratorium in penalties on completed buildings without Planning Permits across the State. A statement issued on Monday by the Permanent Secretary, Office of Physical Planning, Engr. Oluwole Sotire, said property owners and developers of existing (completed) developments without...
The recently enacted Law of Lagos State Real Estate Regulatory Authority (LASRERA), signed by Governor Babajide Sanwo-Olu, in 2022, empowers the agency to collaborate with Federal Government enforcement agencies to combat fraudulent practices effectively. ...
The Central Bank of Nigeria (CBN) has declared a significant increase in the minimum capital requirements for banks, marking the first such move in almost two decades. This initiative by the leading bank is aimed at strengthening an industry grappling with high inflation, devaluation of the naira, and a sluggish economy....