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How NMRC Promotes Affordable Mortgage Loans (Updated)

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The Nigeria Mortgage Refinance Company (NMRC) was licensed on February 18, 2015, to promote the delivery of affordable housing to Nigerians.

NMRC key role is mortgage refinancing. They do this by raising long-term funds from the capital market to refinance conforming mortgage portfolios of mortgage and commercial banks in Nigeria.

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NMRC are committed to keeping the public and stakeholders regularly updated about our strides and the modest progress that we are making in building a modern housing finance for Nigeria in collaboration with other housing stakeholders


How NMRC Promotes Affordable Mortgage Loans

Mortgage refinancing is a key component of our operations and it drives our efforts to increase access to affordable housing finance to Nigerians.

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Over the past five years, we’ve issued bonds in the capital market & raised long-term funds totaling N29billion for the refinancing of mortgage loan portfolios of commercial and mortgage banks in Nigeria. This includes N8bn in 2015, N11bn in 2018, & the recent N10b in 2020.

As a result, home loans of up to 20 years are now possible in Nigeria.


Bernard Bassey is a graduate of Software Engineering from AfriHUB University, Abuja. He is an expert in field journalism, his interest in socio-politics activities is keen.

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