The Housing Development Advocacy Network (HDAN) has praised the federal government for its commitment of N250 billion to tackle Nigeria’s housing deficit, asserting that this initiative will significantly enhance growth.
This sentiment was expressed during a visit to the Ministry of Finance Incorporated (MOFI) led by HDAN founder Festus Adebayo, who conveyed confidence in the ministry’s ability to revitalize the housing sector.
“We are pleased that MOFI is prepared to raise funds from the capital market, an area that has yet to be fully explored in Nigeria. We are optimistic that starting in 2025, our sector will experience advancements in financing for affordable housing and mortgage options, both on the demand and supply sides,” Adebayo stated.
In addition, Dr. Armstrong Takang, CEO of MOFI, announced the launch of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), marking a crucial step in addressing Nigeria’s housing challenges.
“This fund is a key component of the One Million Homes Presidential Initiative, aimed at providing affordable housing through innovative financing solutions,” he noted.
