By Chioma Favour
The Tinubu Media Volunteers (TMV) has commended the disbursement of a N128 billion mortgage fund to 1,859 Nigerian families through the Ministry of Finance Incorporated Real Estate Investment Fund (MRIEF), describing it as evidence of the administration’s commitment to expanding affordable housing access.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and will help address Nigeria’s long-standing housing finance challenges.
TMV noted that beneficiaries of the mortgage scheme are spread across 25 states and the six geopolitical zones, with access to long-term housing loans under favourable conditions, including a 20-year repayment plan, a fixed interest rate of 9.75 per cent per annum, and a minimum equity contribution of 10 per cent.
According to the group, the intervention represents a major step toward improving access to affordable housing finance and expanding homeownership opportunities for Nigerians who have long been excluded due to limited mortgage options.
It further stated that the fund complements existing housing programmes such as the Renewed Hope Cities and Estates initiative, as well as other social housing and financing interventions being implemented by Family Homes Funds Limited.
TMV also praised the federal government’s coordinated approach to addressing housing deficits, noting that ongoing reforms reflect a clear commitment to bridging the gap between housing supply and access to finance.
The group concluded that the development signals renewed momentum in Nigeria’s housing sector under the current administration.
