…real estate, construction contributed over N77tn to Nigeria’s economy in 2025 – minister
The Federal Government has unveiled plans to establish a National Housing Finance Authority (NHFA) as part of a broad package of reforms aimed at expanding access to affordable housing finance, deepening mortgage penetration and bringing millions of informal sector workers into the National Housing Fund (NHF) scheme.
Muttaqha Darma, Minister of Housing and Urban Development, disclosed the proposal on Tuesday at a stakeholders’ validation workshop on the proposed National Mortgage Industry Policy in Abuja.
According to the minister, the proposed authority will reposition the Federal Mortgage Bank of Nigeria (FMBN), improve access to mortgage financing and drive greater participation in the NHF, particularly among workers in the informal economy who have traditionally been excluded from the scheme.
Darma said the reforms would enable traders, artisans and other informal sector operators to
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