The Nigeria Mortgage Refinance Company (NMRC) preparing to refinance affordable houses for Nigerians at the rate of N1.5 million. This was announced by the NMRC Managing Director, Prof. Charles Inyangete, in a press conference jointly held by the AUHF and NMRC in Abuja last year, where he said the Nigeria Mortgage Refinance Company is partnering with the African Union for Housing Finance for this venture.

Affordable Houses

The African Union for Housing Finance is an association of 56 Mortgage Banks, Building Societies, Microfinance Institutions, Housing Corporations and organisations, involved in mobilisation of funds for shelter and housing in Africa. The Nigeria Mortgage Refinance Company was ready to refinance houses at N1.5 million if permitted by technology to drive the process of delivering affordable housing through the practical solution in Nigeria.

NMRC manager Charles Inyangete said provision of affordable houses for Nigerians are very high

He the extent of inequality created by the crisis of affordable housing on the African continent, adding that a practical solution for sustainable housing should be encouraged. According to him, the conference has been designed to reflect a balance between the need to craft policies that could drive sustainable affordable housing finance on the African continent.

Inyangete further said that the conference would bring together practitioners and investors in African and beyond to share, learn from the network with the best in the world on housing finance.

“The conference will also explore how to grow Africa’s mortgage markets to provide sustainable access to affordable housing finance as well as a public-private partnership for affordable housing delivery’’. He added.

He said the conference will try to assess the capacity of housing micro finance with housing micro-finance Academy hosted by Lafarge Holcim and French Development Agency.

According to Mr Oscar Mgaya (Chairman, AUHF), the purpose of the conference, is to bring together housing practitioners and leading policy makers from the private and public sector to discuss issues of housing finance facing the sector and to make available affordable housing for the citizens.

Culled from NTA Website | Nigerians May Get Affordable Houses with N1.5m