Edun Woos Investors for Mass Housing, Agric Settlement Project as MOFI, Niger Sign MoU

Ndubuisi Francis in Abuja

The federal government has urged developers, financial institutions, pension funds, real estate and agribusiness investors to embrace the recently-launched Mass Housing and Agricultural Settlement Project as a scalable model to be replicated across the pilot state (Niger) and beyond.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made the call in Abuja at the signing of a Memorandum of Understanding (MoU) between Ministry of Finance Incorporated (MOFI), and Niger State Government.

The project, to be implemented by MOFI and Niger State Government, is designed to integrate housing development with agricultural productivity under the supervision of the Federal Ministry of Finance.

Edun stated that the MoU signing ceremony represented more than a formal agreement, describing it as a powerful demonstration of cooperative federalism, strategic alignment, and shared commitment to inclusive economic development, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

The minister stressed that the MoU sent a clear signal to the investment community that Niger State, working in alignment with Federal Ministry of Finance and MOFI, was open for credible, well-structured, and impact-driven investment.

“We invite developers, financial institutions, pension funds, real estate investors and agribusiness investors to see this project as a scalable model that can be replicated across the state and beyond,” he said.

With Federal Ministry of Finance serving as the anchor, Edun affirmed that the initiative benefited from strong policy coordination, financial credibility, and institutional oversight at the highest level.

He said, “Housing, as we know, is a fundamental pillar of development. But in Niger State, housing also intersects directly with agriculture, food security, rural stability, and economic productivity.

“This project is therefore deliberately designed not just as a housing intervention, but as a settlement framework for farmers, aimed at strengthening agricultural value chains and improving livelihoods across the state. Niger State remains one of Nigeria’s most agriculturally endowed states.

“Yet, challenges such as insecure settlements, rural-urban migration, and inadequate infrastructure continue to limit the full potential of our farming communities.”

The minister added, “This initiative seeks to address these challenges by providing structured, secure, and well-planned housing settlements for farmers, strategically located to support agricultural production, storage, processing, and market access.

“By anchoring farmers in stable communities with access to basic infrastructure, this project will enhance productivity, reduce post-harvest losses, improve security, and encourage youth participation in agriculture.

“Simply put, when farmers are properly settled, agriculture becomes more efficient, more attractive, and more profitable. The role of MOFI in this partnership is both strategic and catalytic.”

The minister stated that as a key institution under the Federal Ministry of Finance, MOFI brought deep expertise in asset optimisation, project structuring, and private capital mobilisation.

According to him, through the collaboration, public land and assets are being transformed into productive economic instruments that deliver tangible value to citizens while reducing fiscal pressure on government.

He added that the project adopted an innovative financing model that blended public assets with private investment, ensuring sustainability, transparency, and shared risk.

Edun stated, “It allows government to focus on enabling policy and oversight, while leveraging the efficiency and scale of the private sector. Beyond its agricultural focus, the project promotes job security by creating stable, long-term employment across agriculture, agro-processing, renewable energy maintenance, logistics, and community services.

“The mass housing and settlement project will stimulate broad-based economic activity. It will create jobs for engineers, builders, artisans, suppliers, and service providers.

“It will support local industries such as cement, steel, agro-processing, logistics, and transportation. It will strengthen rural economies and contribute meaningfully to the state’s internally generated revenue. Affordability and inclusiveness are central to this initiative.”

He explained that the settlements were not luxury estates, but designed to be functional, cost-effective, and aligned with the income realities of farmers and low- to middle-income earners.

According to the minister, “Transparent allocation mechanisms and strong governance structures will ensure that the benefits reach the intended beneficiaries.

“Sustainability also remains a key priority, with integrated renewable energy solutions, including solar-powered homes and community facilities, to ensure reliable electricity, reduce energy costs, and support agro-processing and storage activities.

“As these settlements are developed, emphasis will be placed on efficient land use, access roads, water solutions, and environmentally responsible building practices that support long-term community growth.”