Tinubu Lauds MREIF for Delivering N128bn in Affordable Mortgages to 1,859 Nigerian Families
• Fund also unlocked N221bn in total property value and supported delivery of 475 housing units nationwide
Deji Elumoye in Abuja
President Bola Tinubu on Tuesday hailed the growing impact of Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which had delivered N128 billion in affordable mortgages to 1,859 Nigerian families across 25 states under the Renewed Hope Agenda.
The beneficiaries, spread across the six geopolitical zones, haD accessed mortgages of up to 20 years at a fixed interest rate of 9.75 per cent per annum with a 10 per cent minimum equity contribution, providing a pathway to home ownership that had largely been unavailable to many Nigerians for almost six decades.
