Disbursement of N128bn Mortgage Fund to 1,859 Nigerians Reflects Tinubu’s Robust Housing Agenda – TMV

The Tinubu Media Volunteers (TMV) has commended the disbursement of N128 billion in mortgage financing to 1,859 Nigerian families through the Ministry of Finance Incorporated Real Estate Investment Fund (MRIEF), describing it as a major milestone in expanding access to affordable housing across the country.

In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the initiative underscores President Bola Tinubu’s commitment to addressing Nigeria’s housing deficit and making homeownership more accessible to citizens.

According to the statement, beneficiaries drawn from 25 states across the federation have accessed the mortgage facility under the Renewed Hope Agenda of the Tinubu administration.

"We consider this a commendable achievement that aligns with President Tinubu’s vision of providing affordable and sustainable housing solutions for Nigerians," the group stated.

TMV noted that the intervention represents a significant step toward tackling one of the country's most persistent housing challenges—the lack of affordable long-term mortgage financing—which has placed homeownership beyond the reach of millions of Nigerians for decades.

The group further highlighted that beneficiaries from the six geopolitical zones are already accessing the mortgage facility with a repayment period of up to 20 years, a fixed annual interest rate of 9.75 per cent, and a minimum equity contribution of 10 per cent.

"These favourable terms demonstrate the administration’s determination to create a mortgage system that is accessible and beneficial to ordinary Nigerians," it added.

The group also observed that the MRIEF initiative complements other flagship housing programmes of the Federal Government, including the Renewed Hope Cities and Estates Programme, as well as financing interventions and social housing projects being implemented by Family Homes Funds Limited.

TMV praised the fund for bridging the gap between housing supply and access to finance, noting that affordable mortgage financing remains a critical component of efforts to increase homeownership and improve living standards.

The group maintained that the development reflects the Federal Government’s visible commitment to meeting the housing needs of Nigerians and ensuring that more citizens have access to decent and affordable homes.