President Goodluck Jonathan on Thursday commended the Lagos State government and her partners for the successful completion of the Eko Atlantic City project.
The president made this commendation at the opening of the Eko Atlantic City, which was witnessed by former U.S. President Bill Clinton in Lagos.
President Jonathan announced that the Federal Government will soon launch a new mortgage promotion agency which will ensure that all Nigerians have access to proper housing.
He said, “I am pleased to announce that we have commenced work on establishing a Nigeria Mortgage Refinance Corporation (NMRC) to help in providing finance for the housing and construction sector.
“The NMRC, which will be private-sector led, will be established as a PPP arrangement. The partners will include the Federal Government, Nigeria’s local banks and savings & loans institutions, and the multilateral institutions, especially the World Bank which is providing concessional credits of three hundred million dollars. Subsequently, the NMRC would be able to access the capital markets to raise long-term funds via bond issues.”