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Minister seeks flexible repayment plans for mortgage loans

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AHMED DANGIWA

The Minister urged CEOs of mortgage banks to devise creative approaches to develop responsive mortgage products, including rent-to-own options and adaptable monthly repayments, in light of the current economic situation in Nigeria. He also highlighted the need to deepen mortgage refinancing and maximize the potential of the housing market by leveraging long-term funds in the capital market.

Dangiwa emphasized the moral obligation of expanding access to affordable mortgages, particularly for low- and medium-income Nigerians, even in challenging economic times. He urged leaders in the industry to prioritize providing housing and home loans as a moral imperative rather than solely a business-driven endeavor.


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