Federal Executive Council meeting, chaired by President Bola Tinubu yesterday, approved a fresh investment to modernise the country’s housing sector and infrastructure industries.
The programme, as adopted by the council, is intended to promote inclusive growth, long-term productivity enhancement, and job creation. It is specifically crafted to address the pressing need for affordable housing and essential infrastructure.
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During its Tuesday meeting at the State House in Abuja, the council approved the plan.
Through this effort, Nigerians will be able to access private sector money to fulfil their ambition of owning a home by taking out low-interest, 25-year mortgages.
Following the meeting, Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, gave a press conference where he emphasised the value of creative partnerships between the private sector and sovereign-owned enterprises (SOEs), such as the Ministry of Finance Incorporated (MoFI) and the Nigeria Sovereign Investment Authority (NSIA).
According to him, the goal of these collaborations is to strategically direct financing towards locations with significant influence, guaranteeing positive economic results for the populace.
“This alliance signifies a significant step towards driving sustainable development and economic growth in Nigeria by leveraging private-sector resources and expertise in strategic areas of need,” the minister stated.
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cc: Daily Post Ng
