Nigeria’s government plans to develop a mortgage finance company along the lines of the U.S.’s Fannie Mae that will help broaden access to home loans in Africa’s most populous country.

The Nigeria Mortgage Refinance Co. will sell bonds on capital markets and provide long-term financing to lenders that will help them extend more home loans, according to an emailed statement from the Mercury PR company, acting for the government. It will also have an “oversight function to standardize mortgage lending practices,” it said.

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