……Mobilizing Private Capital to Expand Access to Low-Cost Mortgages and Boost Housing Sector Growth
The Federal Government has officially listed the commercial tranche of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) on the Nigerian Exchange Group (NGX), marking a major step in mobilizing private sector investments to address Nigeria’s housing deficit.
The listing ceremony, held at the NGX headquarters in Lagos, brought together government officials, capital market leaders, and private investors to celebrate the milestone.
Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized that the MREIF represents a transformative approach to affordable housing by mobilizing private and institutional capital, creating jobs, and stimulating economic growth.
Dr. Shamsuddeen Usman, Chairman of the MOFI Board, described the listing as a significant leap in deepening Nigeria’s capital markets and unlocking the potential of real estate as a driver of inclusive growth.
Dr. Armstrong Ume Takang, Managing Director and CEO of MOFI, highlighted the fund’s role in providing long-term, low-cost mortgage financing, making homeownership a reality for millions of Nigerians while stimulating local economies across the housing value chain.
Since disbursements began in May 2025, over 1,000 mortgages have been created under the fund, demonstrating its early impact and scalability.
The MREIF offers mortgage financing at a competitive interest rate of 9.75 percent, with a maximum loan tenure of 20 years and a minimum equity contribution of 10 percent, making homeownership more accessible to Nigerians.
The listing also allows retail and institutional investors, including members of the Nigerian diaspora, to participate in a socially impactful asset class while benefiting from enhanced visibility, liquidity, and transparency under NGX’s disclosure and governance framework.
Built on a public-private partnership model, the MREIF blends private capital and public policy to deliver long-term, affordable mortgage financing at scale.
The initiative aligns with the Tinubu administration’s Renewed Hope Agenda, demonstrating how policy, capital, and purpose can intersect to deliver real impact and economic inclusion for Nigerians.
The Ministry of Finance Incorporated (MOFI) serves as the federal government’s investment vehicle, responsible for managing public assets and strategic initiatives such as the MREIF to drive national development and stimulate economic transformation.
