The Nigeria Mortgage Refinance Company (NMRC)

Project Name:

  • Nigeria Mortgage Refinancing Company

Project Sector:

  • Financial Service

Project Sponsors:

  • Federal Ministry of Finance

Commencement Date / Closure Date / Completion Date

  • February 18, 2015 (licensing date)

Project Location (Region or State):

  • Lagos

Project Description:

  • The Nigeria Mortgage Refinance Company (NMRC) is a private sector-driven mortgage refinancing company, with the public purpose of developing the primary and secondary mortgage markets, to provide accessible and affordable housing in Nigeria.

Benefits / Impact (Social, Economic & Others):

  • promote affordable house ownership in Nigeria and unlock its multiplier effects on the Nigerian economy
  • NMRC contributes to a better alignment of the Housing Finance Programme

Project Cost / Size:

  • NA

Funding structure:

  • Equity

NSIA’s interest:

  • US$10 million (20.91%)

Partners:

  • Ministry of Finance Incorporated
  • Primary Mortgage Banks