Chief Correspondent, Nigeria, Lagos
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Nigeria puts $300 million World Bank cash into mortgage agency

ABUJA, Jan 22 (Reuters) – Nigeria has put $300 million worth
of World Bank aid money into a mortgage-backed guarantee that it
hopes will boost lending via the creation of a secondary market,
the finance ministry said on Wednesday.

Africa’s most populous country and second biggest economy
suffers a woeful housing shortage, with somewhere between 16 and
20 million new homes needed just to keep up with current demand,
according to official figures.

Jan 22, 2014
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    • About Tim

      "“I am the Bureau Chief for Nigeria. Before that I covered West Africa for 2 years from Ivory Coast, Iraq for 2 years (from Baghdad), and east and central Africa for 5 years, including Uganda, eastern DRC, South Sudan, Kenya and Madagascar.”"
      Joined Reuters:
      2005
      Languages:
      English, French
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