TMV Hails N128bn Mortgage Disbursement to 1,859 Families, Backs Tinubu’s Housing Drive
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TMV Hails N128bn Mortgage Disbursement to 1,859 Families, Backs Tinubu’s Housing Drive
By Alabidun Shuaib AbdulRahman
The Tinubu Media Volunteers, TMV has commended the disbursement of N128 billion in mortgage financing to 1,859 Nigerian families by the Ministry of Finance Incorporated Real Estate Investment Fund, describing it as a major boost to affordable housing and homeownership in the country.
The group, in a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, said the initiative would significantly expand access to affordable housing finance for Nigerians seeking to own homes.
According to TMV, the beneficiaries of the mortgage scheme were drawn from 25 states across the federation, reflecting the Federal Government’s commitment to implementing the Renewed Hope Agenda of President Bola Tinubu.
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The group noted that the intervention represented a significant step toward addressing Nigeria’s long-standing housing deficit and the challenge of limited access to affordable long-term mortgage financing.
It stated that the lack of accessible mortgage facilities had, for years, prevented millions of Nigerians from achieving homeownership.
TMV said it shared President Tinubu’s view that the programme would help tackle one of the country’s most persistent housing challenges by providing sustainable financing options for prospective homeowners.
The group further disclosed that beneficiaries, drawn from the six geopolitical zones, had accessed the mortgages under favourable terms, including a repayment period of 20 years, a fixed interest rate of 9.75 per cent per annum and a minimum equity contribution of 10 per cent.
According to the statement, the mortgage fund complements other housing initiatives of the Tinubu administration, including the Renewed Hope Cities and Estates Programme, as well as financing interventions and social housing schemes being implemented through Family Homes Funds Limited.
TMV also praised the fund for creating opportunities for more Nigerians to access affordable housing, saying the intervention would help bridge the gap between housing supply and access to finance.
The group maintained that the latest disbursement underscored the Federal Government’s determination to address the housing needs of citizens through targeted policies and strategic investments.
It added that the initiative reflected a growing commitment by government agencies to promote homeownership and improve living conditions for Nigerians.
