By Correspondent.
The Tinubu Media Volunteers (TMV) has described the listing of the N1tr MOFI Real Estate Investment Fund (MREIF) on the floor of the Nigerian Exchange Limited (NGX) as transformative.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV noted that it was capable of revolutionising the Nigerian housing sector.
”There is no doubt that the listing of the fund in the capital market will inject more funds into the housing sector, as both the public and private sectors will collaborate in driving the growth in the sector.
”We also acknowledge that this policy has come at an opportune time when the housing deficit in the country is still a challenge. So, for the federal government to initiate this move shows that it is committed to addressing the housing challenge, especially in major cities.
”Furthermore, the initiative is a creative and market-driven financing model that will catalyse the investments in the Nigerian housing sector.
”It is also noted that apart from increasing ownership of houses for Nigerians, the initiative will create thousands of jobs along the construction value chain, stimulate the economy and make it more viable.
”This investment will also go a long way to jumpstarting the Nigerian capital market and positioning the real estate sector as a major driver of inclusive economic growth.
”We can state without equivocation that with the federal government investment of N1 trillion in the capital market exclusively for the housing sector, it has taken a major step towards addressing one of the basic necessities of life which is shelter,” the statement added.
The group applauded the President Bola Tinubu administration’s foresight and commitment toward making housing affordable for the generality of the people.
Edited by Dada Ahmed.
