Federal Government Introduces Low‑Cost Mortgage Plan
The Federal Government today inaugurated a new housing finance initiative aimed at making homeownership attainable for low- to middle-income Nigerian families.
The scheme offers mortgages with interest rates capped at 5%, facilitating loans up to ₦15 million over a 20-year period. Beneficiaries will access subsidized rates through approved partner banks.
Housing Minister emphasized that this move aligns with the administration’s broader social welfare agenda and is expected to boost the construction industry, create jobs, and reduce the national housing deficit by at least one million units over the next five years.
Adedayo Obadina
Talksocialtalks
