N250bn finance ministry’s housing support will drive growth — HIDAN

The Housing Development Advocacy Network (HDAN) has commended the federal government for its N250 billion commitment to addressing Nigeria’s housing deficit, saying the support will go a long way to boost growth. This was highlighted during HDAN’s visit led by the founder, Festus Adebayo, to the Ministry of Finance Incorporated (MOFI), where the organisation expressed […]

The Housing Development Advocacy Network (HDAN) has commended the federal government for its N250 billion commitment to addressing Nigeria’s housing deficit, saying the support will go a long way to boost growth.

This was highlighted during HDAN’s visit led by the founder, Festus Adebayo, to the Ministry of Finance Incorporated (MOFI), where the organisation expressed confidence in the ministry’s readiness to transform the housing sector.  

 “We are happy that MOFI is ready to raise money from the capital market which is one area that has not been tapped in Nigeria. We are hopeful that from 2025 our sector will witness a new development in the area of financing for affordable housing and mortgage financing on the demand side of housing and also on the supply side,” Adebayo added. 

Meanwhile, the CEO of MOFI, Dr Armstrong Takang, said the federal government has launched the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), a significant step toward addressing Nigeria’s housing deficit. 

“This fund is a cornerstone of the One Million Homes Presidential Initiative, designed to offer affordable housing through innovative financing solutions,” he added.