Developer Lists Gains Of NMRC

A real estate developer,
Daniel Afolabi, has declared support to the take-off of the recently inaugurated Nigeria Mortgage Refinance Company (NMRC).
Making the pledge while interacting with The Tide in Port Harcourt, Monday, the real estate developer stated that the refinancing company will help  to solve the funding challenges facing mass housing development  in the country.
Afolabi, who is a member of the Real Estate Developers Association of Nigeria (REDAN), opined that government should ensure that the refinancing programme was managed by private sector with little interference by government.
He said: “The NMRC has come to stay and real estate developers will help in any way we can to ensure its successful take-off. Things have to be done properly to ensure that the set up and management meet the international standard.”
Afolabi also urged all stakeholders in the housing sector to be committed to their own equity contribution to the mortgage refinance company.
He also stated that due process and transparent management of the company were needed to justify the contributions of the World Bank and the International Finance Corporation (IFC) to the company.
The REDAN boss said that it was necessary for the government and stakeholders to work closely and resolve the issue of equity contribution to the company.
It would be recalled that the Federal Government had on January 16th this year inaugurated the NMRC in Abuja with the World Bank making a 300 million dollars grant to the company.

 
Corlins Walter