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FG to boost home ownership through affordable mortgage


Kemi Adeosun

Kemi Adeosun

The Minister of Finance, Kemi Adeosun, has stated Federal Government’s commitment to reflating the economy through targeted investment in capital projects.

She also disclosed plan to boost home ownership through an affordable mortgage system of single-digit interest rate with a 20-year repayment period.

The minister noted that with housing deficit at over 17 million, Nigeria was ripe for radical intervention in the sector.

At the ongoing Annual Conference and General Meeting of the African Union for Housing Finance (AUHF) in Abuja, Adeosun said due to current high interest rates, intervention to bring down the rates and enhance affordability of mortgages over a long tenure is needed.

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1 Comment
  • nana

    wow…. why am i not surprised at the lack of information and continuous repetition of useless information on this news article. we have had this housing deficit for over 10 years so this is not news and dear minister this scenario is not only ripe it has burst open and rotting over for your “radical intervention”. by now we Nigerians are sorting ourselves out through informal means of funds from families, employers and loan sharks, so your efforts are too little too late.

    Dear Nkechi Onyedika-Ugoeze what was this plan that was disclosed to you because i can not read it any where in this article or you do not understand the term “to disclose”?

    And it took our finance minister to go for a conference meeting to realize mortgage rates in Nigeria was not affordable? ….mmmmh i should go and join the ministry you accommodation allowances must be extremely good.