Nigeria: Govt Targets Single-Digit Mortgage Rates in New Housing Initiative

26 September 2016

The Federal Government is targeting the provision of mortgages at single digit interest rates and long tenor as it plans to unveil a new housing finance initiative.

Minister of Finance, Kemi Adeosun, revealed this at the recently concluded 32nd Annual Conference and General Meeting of the African Union for Housing Finance (AUHF) in Abuja. She said the initiative to finance housing projects is aimed at the construction of over 300,000 affordable houses through mortgage financing and creation of 700,000 new jobs across the housing development value chain.

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