{"id":2181,"date":"2022-11-18T21:49:12","date_gmt":"2022-11-18T21:49:12","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/shelter-afriques-equity-in-nigerias-mortgage-sector-hits-n256bn\/---cc0014e1-f103-45cb-88ab-56112894747c"},"modified":"2022-11-19T08:10:26","modified_gmt":"2022-11-19T08:10:26","slug":"shelter-afriques-equity-in-nigerias-mortgage-sector-hits-n256bn","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/shelter-afriques-equity-in-nigerias-mortgage-sector-hits-n256bn\/","title":{"rendered":"Shelter Afrique\u2019s equity in Nigeria\u2019s mortgage sector hits N256bn"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div>\n<div id=\"fsb-social-bar\" class=\"fsb-social-bar\" data-post-id=\"299338\" data-socialite=\"true\"><\/div>\n<h2>A pan-African finance company, Shelter Afrique has invested over $16 million; about N315.2 billion in the nation\u2019s equity market in the last three years.<\/h2>\n<p>Out of these equity investments, $13 million, about 256.1 billion was invested in credit lines for on-lending for <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> while $3 million, about N591 million was invested in the Nigerian Mortgage Refinance Company, NMRC within the same period under review.<br \/>\nMinister of Power, Works and <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Housing<\/a>, Mr. Babatunde Fashola, who gave the breakdown recently, said these investments were through interventions in the nation\u2019s housing sector.<br \/>\nHe also disclosed that between 2005 and 2010, the company had financed 23 initiatives totalling N10.435 billion ($52,175,000) and another N12.08 billion ($60,400,000) over the last three years on 10 interventions.<br \/>\n\u201cOf these initiatives, 15 represented lending for construction of housing projects, out of which the largest was for $7m for 376 <a href=\"https:\/\/amazingproperty.com.ng\/blog\/really-nice-property-for-sale-in-nigeria\/\">houses<\/a> of different types; and 251 service plots, followed by 287 mixed housing units for a cooperative society; 55 housing units and 100 service plots and the least was for 16 maisonettes. This is the intervention on the supply side of housing to provide houses,\u201d he noted.<br \/>\nAccording to him, the remaining eight interventions were for mortgage <a href=\"https:\/\/amazingproperty.com.ng\/blog\/construction-loans-for-commercial-and-residential-builders\/\">financing<\/a> to building societies, credit line for individual mortgages and related financing on the demand side of housing to provide finance. The Minister said that out of the 10 interventions in the last three years, seven were for housing construction, including 287 units, 90 units, 15 floor commercial complex, 59 housing units, 300 housing units, 130 apartments and 44 housing units.<br \/>\nNoting that over the years the country had embarked on a series of housing initiatives but not one of them had been pursued with consistency or any measurable sustainability, he pointed out that the unsustainable efforts must change and give way to a sustainable and well thought out initiative led by the government and subsequently driven by the private sector.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; A pan-African finance company, Shelter Afrique has invested over $16 million; about N315.2 billion in &hellip; <a title=\"Shelter Afrique\u2019s equity in Nigeria\u2019s mortgage sector hits N256bn\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/shelter-afriques-equity-in-nigerias-mortgage-sector-hits-n256bn\/\"><span class=\"screen-reader-text\">Shelter Afrique\u2019s equity in Nigeria\u2019s mortgage sector hits N256bn<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[519,2890,617,489,344,408,312,522],"class_list":["post-2181","post","type-post","status-publish","format-standard","hentry","category-opportunities-in-new-markets","tag-africa","tag-construction","tag-house","tag-houses","tag-housing","tag-mortgage","tag-mortgages","tag-nigeria"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3196,"url":"https:\/\/amazingproperty.com.ng\/blog\/fmbn-boosts-housing-in-seven-states-with-1500-units\/","url_meta":{"origin":2181,"position":0},"title":"FMBN boosts housing in seven states with 1,500 units","author":"Amazing Property","date":"April 10, 2017","format":false,"excerpt":"Mortgage Bank of Nigeria Amid concerns that a yearly rural-urban migration of over 5 per cent requires 720,000 housing units annually to fill the nation\u2019s housing deficit, Federal Mortgage Bank of Nigeria (FMBN) has uploaded 1,500 housing units into the property market. The units developed by the bank in seven\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5606,"url":"https:\/\/amazingproperty.com.ng\/blog\/nmrc-refinances-n8-2-billion-mortgages-pledges-homeownership\/","url_meta":{"origin":2181,"position":1},"title":"NMRC refinances N8.2 billion mortgages, pledges homeownership","author":"Amazing Property","date":"August 7, 2017","format":false,"excerpt":"Company Secretary, Nigeria Mortgage Refinance Company (NMRC), Musa Bello (left); Chairman of the board, Dr. Charles Okealaham and Managing Director, Prof. Charles Inyangete during the third annual general meeting in Lagos. ...Signs MOU with Alphamead, OPIC on affordable housing Notwithstanding the harsh operating environment, especially high interest rates and inflation,\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2173,"url":"https:\/\/amazingproperty.com.ng\/blog\/experts-seek-fiscal-measures-to-fix-housing-problems\/","url_meta":{"origin":2181,"position":2},"title":"Experts seek fiscal measures to fix housing problems","author":"Amazing Property","date":"January 10, 2023","format":false,"excerpt":"Housing Problem: There is great potential in the nation\u2019s real estate sector. Experts in the real estate have urged the Federal Government to ensure fiscal measures such as tax reliefs, subsidies, provision of social housing as well as various regulations, aimed at influencing the quality and pricing of housing in\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Housing Mortgage","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/house-housing-1024x340.png?fit=1024%2C340&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/house-housing-1024x340.png?fit=1024%2C340&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/house-housing-1024x340.png?fit=1024%2C340&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/house-housing-1024x340.png?fit=1024%2C340&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6474,"url":"https:\/\/amazingproperty.com.ng\/blog\/gemade-urges-agencies-restructuring-alternative-funding-for-housing-sector\/","url_meta":{"origin":2181,"position":3},"title":"Gemade urges agencies restructuring, alternative funding for housing sector","author":"Amazing Property","date":"October 2, 2017","format":false,"excerpt":"Senator Barnabas With the greater percentage of the population still lacking access to decent homes, the Chairman, Senate Committee on Lands, Housing and Urban Development, Senator Barnabas Gemade\u00a0has called for urgent legislative action for restructuring of the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA) to bridge\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Barnabas-Gemade-.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Barnabas-Gemade-.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Barnabas-Gemade-.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Barnabas-Gemade-.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Barnabas-Gemade-.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":8027,"url":"https:\/\/amazingproperty.com.ng\/blog\/cbn-enlists-34-mortgage-banks-others-for-my-own-home-scheme\/","url_meta":{"origin":2181,"position":4},"title":"CBN enlists 34 mortgage banks, others for &#039;My Own Home\u2019 scheme","author":"Amazing Property","date":"February 5, 2018","format":false,"excerpt":"CBN buildingFollowing plans to introduce a public private partnership scheme that seeks to increase access to housing finance, the Central Bank of Nigeria (CBN) has selected 34 primary mortgage banks and four commercial banks to stimulate housing finance for low-income earners in the formal and informal sectors. The banks will\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"CBN.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/CBN.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/CBN.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/CBN.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/CBN.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/CBN.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2170,"url":"https:\/\/amazingproperty.com.ng\/blog\/mitigating-recession-through-sustainable-housing-investments\/","url_meta":{"origin":2181,"position":5},"title":"Mitigating recession through sustainable housing investments","author":"Amazing Property","date":"September 25, 2016","format":false,"excerpt":"Experts have suggested that investments in the nation\u2019s housing sector would not only reduce the growing housing deficit in the country, but also mitigate recession in the country. SYLVA EMEKA-OKEREKE reports. As recession is biting harder, some experts in the nation\u2019s economy are thinking outside the box on the possible\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"housing","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/housing-estate-abuja-1024x621.jpg?fit=1024%2C621&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/housing-estate-abuja-1024x621.jpg?fit=1024%2C621&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/housing-estate-abuja-1024x621.jpg?fit=1024%2C621&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/housing-estate-abuja-1024x621.jpg?fit=1024%2C621&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=2181"}],"version-history":[{"count":3,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2181\/revisions"}],"predecessor-version":[{"id":64468,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2181\/revisions\/64468"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=2181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=2181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=2181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}