In housing, we signed the National Housing Policy to kick-start the framework for providing more affordable homes for our people. We have also expanded the National Housing Fund to accommodate more Nigerians.
We have started a revolution in the housing sector with the start of the Nigerian Mortgage and Refinanced Company (NMRC) a new initiative of my administration, that will enable more citizens in the lower income bracket to become first time home owners.
Our partners such as the World Bank group are supporting this with US300million dollars interest free credit, while my administration will back it with over 100billion naira in bonds.
We are already processing 66,000 mortgage applications for our young people. We have amended the PENCOM Act to enable the pension funds invest in housing sector bonds. This will create a boom in the housing sector.
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