Rullion's Blog

The Federal government this afternoon commenced the rollout of the first phase of a 10,000 mortgage scheme,  Affordable Homes Programme . The programme is being implemented by the Federal Ministry of Finance in collaboration with the Federal Ministry of Lands, Housing and Urban Development and the  Nigeria Mortgage Refinance Company .

An investment of at least N48.8tn ($300bn) is required over the next 30 years for housing construction costs alone in the country, the Minister for Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has said. Minister for Lands, Housing and Urban Development, Mrs. Akon Eyakenyi Eyakenyi stated this in a presentation on ‘Affordable housing finance: The role of government’, at the World Bank and International Finance Corporation’s Sixth Global Housing Finance Conference held in United States between May 28 and 29. The presentation was made available to our correspondent on Sunday. She said with a population of 167 million people, Nigeria remained one of the most rapidly urbanising countries in Africa, with rising housing needs.