Nigeria's Mortgage Market Struggles to Attract Institutional Investors Despite Growth Potential
Nigeria's mortgage market faces slow growth despite a significant housing deficit, deterring institutional investors like pension funds. The market lacks standardization, securitization, and efficient foreclosure mechanisms, making it unattractive for long-term investors.
Adedeji Ajadi, CEO of Mortgage Bank Association of Nigeria (MBAN), highlights challenges such as legal complexities, unreliable property valuation, and lack of historical performance data. These factors hinder investor confidence and risk management, posing obstacles for institutional capital, especially pension funds.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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