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Jigawa State Government Boosts Savings and Loans Firm with ₦1 Billion Capital Injection
In a strategic effort to strengthen its financial institutions, the Jigawa State Executive Council has sanctioned a ₦1 billion recapitalisation for the state-owned Savings and Loans Limited. This decision aims to enhance the company’s capacity to offer more robust mortgage and loan services.
Details from the Latest Executive Council Meeting
The announcement was made by Sagir Musa, the Commissioner for Information, Youth, Sports, and Culture, during a press conference summarizing the outcomes of the inaugural 2026 council session held in Dutse on Friday. The capital boost reflects the government’s commitment to improving access to affordable housing finance for its workforce.
Expanding Financial Support for State Employees
Jigawa Savings and Loans Limited primarily serves the residential mortgage needs of Jigawa State Government employees, providing tailored loan products to facilitate home ownership. With this fresh capital injection, the institution is expected to broaden its lending capacity, potentially increasing the number of beneficiaries and improving loan terms.
Context and Future Outlook
Across Nigeria, state-owned financial entities are increasingly pivotal in addressing housing deficits and promoting economic stability. For instance, similar recapitalisation efforts in states like Kaduna and Kano have led to a 20% rise in mortgage disbursements over the past year. By following this trend, Jigawa State is positioning itself to better meet the housing finance demands of its public servants, contributing to overall socio-economic development.
