The Federal Government has announced plans to list its ₦1 trillion real estate investment fund on the Nigerian Exchange (NGX as part of efforts to close the nation’s housing deficit and make homeownership more affordable.
The Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, is expected to lead the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) on Tuesday.
The MREIF, which has already launched two tranches of ₦250 billion each, will allow both existing and new investors to trade on its units once listed on the NGX. The initiative aims to expand access to affordable mortgages, offering repayment terms of up to 25 years at single-digit interest rates significantly lower than current commercial lending rates.
According to the Federal Government, the scheme will unlock value from public real estate assets while creating a transparent, market-driven platform for housing investment.
The Managing Director of MOFI, Dr. Armstrong Takang, described the project as a major step in promoting homeownership, noting that mortgage rates under the fund will not exceed 12 percent and are targeted to fall below 10 percent in the coming phases.
“The savings from these lower-cost funds are now being passed on to Nigerians through reduced interest rates on mortgages,” Takang said.
The initiative is being executed in partnership with Family Homes Funds Limited (FHFL) and ARM Investment Managers, who will oversee the fund’s operations. FHFL has also secured a credit line from the African Development Bank (AfDB) to further reduce the cost of financing.
Through the listing, the Federal Government seeks to attract private and institutional investors, mobilize long-term capital, and deepen Nigeria’s housing finance ecosystem. The move also aligns with its broader shift from direct spending to market-based social investments aimed at sustainable development.
Under the programme, Nigerian civil servants and other qualified citizens will be able to access mortgage loans with only a 10 percent equity contribution.
The government assured that the MREIF would enhance transparency and investor confidence as it becomes subject to NGX disclosure and reporting standards.
