… Reiterates Commitment to Investor-Backed Real Estate Fund
… Promises Affordable Homeownership for Nigerians
The Ministry of Finance Incorporated (MOFI) has reiterated its commitment to tackling Nigeria’s housing deficit and unlocking affordable homeownership for millions of citizens through its innovative MOFI Real Estate Investment Fund (MREIF).
Speaking at the 19th Africa International Housing Show (AIHS) in Transcorp Hilton, Abuja, MOFI Managing Director, Dr. Armstrong Takang, outlined the fund’s transformative role in driving investment-led public sector reform and sustainable infrastructure delivery, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Dr. Takang described MREIF as a market-aligned public-private partnership (PPP) designed to catalyse Nigeria’s housing value chain by raising capital from the capital markets rather than relying on government subsidies.
This approach, he noted, ensures liquidity, sustainability, and transparency, avoiding the pitfalls of previous housing programmes.
With a pilot phase capital target of ₦250 billion under a broader ₦1 trillion programme, the fund offers single-digit interest mortgages, flexible equity contributions, and repayment tenors of up to 20 years.
It also provides offtake guarantees to developers and supports mortgage finance institutions, ensuring a holistic boost to both supply and demand.
MOFI has further reduced the fund’s mortgage rate from 12% to 9.75% per annum to make homeownership more affordable and accessible to most Nigerians.
Highlighting its national alignment, Dr. Takang emphasized that MREIF directly supports President Tinubu’s vision for sustainable infrastructure and homeownership expansion.
“This is not just a financing programme; it is a blueprint for transforming Nigeria’s housing sector through structured capital, strong governance, and genuine public-private collaboration,” he said.
With over 22,000 ready homebuyers already on its portal, MREIF is being positioned as a replicable model for other African nations seeking innovative solutions to their housing challenges. MOFI’s presence at AIHS 2025 underscores the event’s role as Africa’s largest platform for housing innovation, collaboration, and investment.
