FG to Boost Housing Sector

Ngozi Okonjo-Iweala, the Minister of Finance has announced plans by the Federal government of Nigeria to boost the housing sector of the country.

She said this while delivering a paper at the 12th convocation ceremony of the Babcock University, Ogun State on Sunday.

Delivering the paper titled, “Beyond the Degrees,” the Minister said in order to achieve its plans, the government has created an institution called, Nigeria Re-Finance Company. “This company will pump in the liquidity into the system starting this June, that will enable finance companies to give the young and old mortgages so that they can purchase their own houses,” Okonjo-Iweala said.

The Minister added that there are also plans to help those at the bottom end of the economic ladder to buy homes they have rented and pay over time.

Speaking at the event, an excited Kayode Makinde, Vice Chancellor, Babcock University, thanked members of the university’s governing council and the parents for their support. He charged graduating students to live to be positive influence in the society.

A total of 1560 students graduated. Of this number, 44 graduated with a First Class while another 1227 graduated with 2nd Class honours. Uzoamaka Rachael of the department of Public Administration emerged the best graduating student with a 4.86 CGPA.

The event drew prominent figures and royal fathers from different parts of the country.