The Nigeria Mortgage Refinance Company Plc (NMRC) and a German agency, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), have signed an agreement to deepen affordable housing in Nigeria.
The agreement was
signed on the sideline of the just concluded 13th Abuja International Housing
Show.
NMRC’s Managing Director (MD) noted during the signing ceremony that the
ongoing collaboration with GIZ includes joint activities in the affordable
housing value chain that would be focused on synergistically using both
institutions capacities and expertise to bring about access to finance while
also driving the creation of an economy around affordable housing in target
locations across Nigeria.
GIZ’s Cluster
Coordinator for Sustainable economic Development, Hans Ludwig Bruns in his
remarks also noted that GIZ and NMRC both recognise the great potential to join
forces and leverage synergies for the benefit of the affordable housing sector
in the GIZ-SEDIN focal states: Ogun, Plateau and Niger states.
The strategic collaboration between GIZ-SEDIN and NMRC is in furtherance of the
efforts of the Federal Government of Nigeria to resolve the housing crisis in
Nigeria, through collaboration with the World Bank and International
cooperation institutions like GIZ.
This engagement also
falls under the primary mandate of the NMRC to structurally address the current
challenges with regards to financial innovations required to develop affordable
housing in Nigeria from a private sector perspective by acting as a conduit
between the capital markets and housing markets.
NMRC as the nation’s
leading provider of mortgage refinance in collaboration with GIZ will seek to
promote housing accessibility through financial innovation as well as
foreclosure mechanisms that facilitate the creation of an enabling environment
for mortgages and investment in the housing sector of the target states. Daily
Trust
