Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has endorsed the growing impact of the MOFI Real Estate Investment Fund, describing it as a critical intervention in addressing the country’s housing finance gap.
Speaking after a high-level meeting with officials of the Ministry of Finance Incorporated, Edun said the MOFI Real Estate Investment Fund (MRIEF) represents a transformative shift in how housing projects are financed in Nigeria, particularly through its provision of funding at below double-digit interest rates.
The minister noted that the initiative aligns with the broader economic agenda of Bola Ahmed Tinubu, which prioritises innovative and people-focused policies to drive inclusive growth and improve access to essential services such as housing.
He described the fund as a demonstration of what can be achieved through strategic collaboration between public and private sector stakeholders, adding that its structure reflects innovation and flexibility in tackling longstanding structural challenges in the real estate sector.
Edun emphasised the need to scale up the fund to expand its reach, particularly among low- and middle-income Nigerians who face significant barriers to accessing affordable housing finance.
According to him, widening the coverage of MRIEF would not only support homeownership but also stimulate economic activity across the construction value chain, creating jobs and boosting investor confidence in the sector.
The meeting brought together a broad range of stakeholders, including fund managers, merchant banks, trustees, legal advisers and capital market operators, highlighting the multi-sectoral collaboration underpinning the initiative.
Participants at the meeting commended the minister’s leadership and acknowledged the policy environment created by the current administration, which they said has enabled innovative financing solutions to emerge within the housing sector.
Analysts say the continued expansion of MRIEF could play a pivotal role in narrowing Nigeria’s housing deficit, particularly if supported by sustained policy backing and efficient implementation frameworks.
