MOFI Turns to Capital Market to Expand Affordable Housing Finance

The Ministry of Finance Incorporated is strengthening efforts to mobilise capital-market funding for large-scale housing projects and affordable mortgages across Nigeria.

MOFI Managing Director and Chief Executive Officer, Dr Armstrong Takang, said the approach would be implemented through the MOFI Real Estate Investment Fund, a major financing component of the Federal Government’s One Million Homes Presidential Initiative.

Takang disclosed the plan during a visit by senior members of the Housing Development Advocacy Network to MOFI’s office in Abuja.

He explained that MREIF was designed as a market-driven platform capable of attracting pension funds and other institutional capital into Nigeria’s housing sector.

The initiative is expected to provide long-term funding for housing projects while expanding access to affordable mortgages, particularly for workers and contributors to the pension system.

According to Takang, transparency and market efficiency will guide the fund’s operations, helping to strengthen Nigeria’s mortgage market and create more sustainable routes to homeownership.

The Federal Government engaged professionals from the pension, investment and financial sectors to support the fund’s governance and deployment.

Those involved include the Accountant-General of the Federation, Dr Oluwatoyin Madein; Wale Odutola of ARM Pensions; Funmi Ekundayo of STC Trustees; and Saadu Jijji of PAL Pensions.

Their experience covers pension management, trusteeship, investment advisory services, fund management and real estate financing.

MOFI also plans to work closely with the Federal Mortgage Bank of Nigeria, Family Homes Funds Limited and Primary Mortgage Banks to increase the reach of housing finance.

Support for mortgage institutions is expected to improve their operational capacity and help them respond to the growing demand for long-term home loans.

MREIF currently offers qualifying homebuyers mortgages with repayment periods of up to 20 years at a fixed annual interest rate of 9.75 per cent and a minimum equity contribution of 10 per cent.

By June 2026, the fund had reportedly provided ₦128 billion in mortgages to 1,859 families across 25 states.

It had also unlocked approximately ₦221 billion in property value and supported the delivery of 475 housing units through offtake-guarantee projects.

The commercial tranche of the fund has been listed on the Nigerian Exchange, creating a platform through which private and institutional investors can participate in housing finance.

Reacting to the initiative, HDAN welcomed the Federal Government’s ₦250 billion commitment to housing and described the decision to access the capital market as an important step towards addressing Nigeria’s longstanding financing challenges.

The organisation, however, advised MOFI to learn from previous federal housing programmes and work with qualified professionals and developers with verifiable records of successful project delivery.

HDAN Executive Director, Festus Adebayo, called on credible estate developers to support the One Million Homes initiative and contribute to the expansion of affordable housing.

Former Chairman of the Federal Government’s Reform Committee on Land, Dr Ugochukwu Chime, identified weak land-titling systems as a major obstacle that could limit access to housing finance.

He urged MOFI and other government institutions to support reforms that would make property titles easier to obtain, verify and use as security for mortgages and construction loans.

Another housing stakeholder, Emmanuel Akinwumi, called for a review of outdated housing and mortgage laws that continue to constrain the sector’s performance.

Mobilising money from the capital market could reduce dependence on short-term government funding and commercial bank loans. Its success will, however, depend on transparent fund management, credible project selection, secure land titles and the delivery of homes within the income range of intended beneficiaries.

The post MOFI Targets Capital Market Funding for Affordable Housing appeared first on Housing TV Africa.

FirstBank, in collaboration with the MOFI Real Estate Investment Fund (MREIF), has highlighted opportunities for Nigerians to access affordable mortgage financing as part of efforts to reduce the country’s housing deficit and improve access to homeownership.

The financial institutions made this known during a home loan webinar themed, “Beyond Rent: The Path to Home Ownership Leveraging FirstBank-MREIF Home Loan Scheme to Build Long-Term Wealth.”

The webinar was aimed at informing Nigerians in both the formal and informal sectors about available mortgage opportunities and how they can use the scheme to finance homeownership.

Under the FirstBank-MREIF home loan scheme, eligible applicants can access mortgages with repayment periods of up to 20 years at a fixed interest rate of 9.75 per cent per annum, subject to applicable terms and eligibility requirements.

The webinar also highlighted the broader opportunities provided through MREIF, an initiative of the Ministry of Finance Incorporated, which seeks to expand access to long-term mortgage financing and address Nigeria’s housing deficit.

The fund ultimately aims to mobilise up to N1 trillion to expand mortgage access and support housing development across the country.

Speaking during the webinar, FirstBank’s Head of Personal Banking, Chukwuka Okonkwo, said the partnership was designed to broaden access to mortgage financing and contribute to closing Nigeria’s housing deficit.

Okonkwo said FirstBank’s extensive branch network and digital lending platforms provided the bank with the capacity to support Nigerians seeking to own homes.

He said the bank had also established partnerships with developers across several states after conducting research to identify properties that qualify for mortgage financing.

According to him, the bank intends to extend the mortgage opportunity to Nigerians in the diaspora and provide an end-to-end homeownership solution.

He said the partnership with MREIF would help ensure that the scheme reaches Nigerians across several states.

FirstBank’s Head of Security Documentation and Transactional Support, Legal Services, Uzoamaka Ihegazie, also explained the measures the bank takes to protect customers through proper property documentation.

She said the bank verifies property ownership and land documentation before financing is provided.

According to her, the process includes obtaining the Certificate of Occupancy, charting the survey plan to establish that the land is properly allocated for residential purposes and conducting title verification.

She said these documentation and verification processes were necessary to protect customers and prevent ownership-related problems after they take possession of their properties.

Also speaking, Executive Director, Sales and Investment, Leadway Pensure, Oluwafemi Adebayo, commended FirstBank for providing Nigerians with an opportunity to access mortgage financing.

He said access to homeownership was particularly important for Nigerians preparing for retirement, while also highlighting the possibility of using Retirement Savings Account pension schemes to procure property and create wealth.

The National Coordinator of MREIF, Sani Yakubu, said the fund was established to address Nigeria’s housing deficit by making long-term, low-cost mortgages available to average citizens while also stimulating activity in the construction sector.

Yakubu said many Nigerians had already benefited from the initiative and encouraged more eligible Nigerians to apply.

The post FirstBank, MREIF Promote Long-Term Mortgages to Help Nigerians Own Homes appeared first on Housing TV Africa.

FHA property holdings near N5 trillion

The Federal Housing Authority (FHA) holds property worth nearly N5 trillion, its Managing Director and Chief Executive Officer, Oyetunde Ojo, has said.

Ojo disclosed this during a media chat broadcast by Arise News TV on Monday. He discussed the authority’s housing projects, property management activities and plans to increase housing delivery across Nigeria.

The FHA manages residential estates and collects ground rent from allottees and occupants. Ojo linked the value of the authority’s property portfolio to those activities.

“We are in possession of close to about N5 trillion worth of property because we collect ground rent,” Ojo said.

The figure shows the scale of assets under the FHA as the federal government continues to expand housing development. It also highlights the role of property management alongside the construction of new homes.

FHA says thousands of homes are ready

Ojo said between 10,000 and 15,000 housing units are ready for delivery under the current administration.

He also said the government is working with private real estate investors to increase housing supply. He pointed to the MOFI Real Estate Investment Fund (MREIF) as one source of capital for private-sector housing projects.

READ ALSO :FHA Blames Developer for Port Harcourt Building Collapse, Says Approved Plan Was Altered

According to Ojo, about N200 billion has been released to the Ministry of Finance Incorporated (MOFI) and remains available for private investors to access.

The use of private capital could help expand housing construction. However, access to finance remains a major issue for developers and homebuyers in Nigeria.

FHA provides updates on Abuja projects

Ojo gave updates on several FHA projects across the country. The developments include housing schemes in Abuja, Ibadan, Lagos, Kano and Cross River State.

In Ajoda, Ibadan, the FHA has built about 120 housing units. Construction continues on additional units at the site.

The authority has also delivered 100 housing units in Lugbe, Abuja. In Gwari, nearly 400 units are nearing commissioning.

Ojo said the Gwari project did not receive funding from the Federation Account. He also disclosed that the FHA built 1,550 housing units for the Nigerian Army in Jibi, Abuja, in less than a year.

The units are expected to receive commissioning soon.

Karsana project targets 3,112 units

The Karsana housing development in Abuja remains one of the major projects under the federal government’s Renewed Hope Cities and Estates Programme.

The project covers 3,112 housing units. Ojo said the first phase, which contains about 2,000 units, should receive commissioning soon.

FCT Minister Nyesom Wike is also constructing roads around Karsana. The road works should improve access to the housing development and surrounding areas.

The government launched construction of the Karsana project in February 2024. Since then, it has started several Renewed Hope housing projects in different parts of Nigeria.

Projects expand beyond Abuja

The FHA is also advancing projects outside the Federal Capital Territory.

Ojo said between 500 and 600 housing units in Kano should soon receive commissioning by the Ministry of Housing and Urban Development. He added that about 500 units in Lagos are also nearing completion.

The authority has started groundbreaking work on projects in several states. One of them is located in Odukpani, Cross River State, where the FHA expects to commission the development soon.

The federal government has also started a 250-unit housing project for federal civil servants in Dukpa, Gwagwalada, Abuja. The scheme includes two- and three-bedroom bungalows.

The new project will add to 350 units already delivered through the Federal Integrated Staff Housing Programme. Together, the two schemes will provide 600 units.

Housing finance remains a major challenge

The government’s housing plans come as Nigeria continues to face problems with housing finance, land administration and consumer protection.

The Federal Mortgage Bank of Nigeria is also preparing to complete 962 housing units in Abuja. The project involves the Kaba District housing scheme, which the bank recovered after an alleged diversion of a $65 million loan used to finance it.

The government has proposed further reforms to address weaknesses in the housing market. These include a proposed National Housing Finance Authority and reforms to expand access to housing finance for informal-sector workers.

Another proposed policy, the National Housing and Built Environment Regulation Policy, would introduce measures such as developer licensing and escrow protection for buyers.

What the FHA disclosure means

The FHA’s property portfolio and its ongoing projects show the size of the federal government’s role in Nigeria’s housing market.

However, increasing the number of homes alone will not solve the country’s housing challenges. Buyers also need access to finance, reliable infrastructure, secure land titles and stronger protection in property transactions.

The success of current housing programmes will therefore depend on both construction and the systems that support housing delivery, financing, regulation and long-term property management.

The post FHA Holds Nearly N5 Trillion in Property, Oyetunde Ojo Says appeared first on Housing TV Africa.

The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Ume Takang, has said Nigeria’s democratic journey has played a significant role in driving infrastructure development, strengthening public institutions and supporting economic growth.

Speaking during activities marking Democracy Day 2026, Takang noted that democratic governance has provided the enabling environment for reforms aimed at improving institutional capacity and unlocking value from government-owned assets.

According to him, democracy remains a critical foundation for sustainable development and economic transformation.

“Democracy provides the foundation for institutional growth and economic progress. The ongoing reforms within the public sector, particularly the effort to unlock value from government-owned assets, demonstrate long-term vision and a commitment to national development,” he said.

Takang explained that one of the major achievements of the current reform agenda is the transformation of the Ministry of Finance Incorporated into a strategic asset management institution focused on preserving, growing and optimising the value of the Federal Government’s commercial assets.

He noted that MOFI has evolved from a passive holder of government investments into an active portfolio management institution tasked with enhancing the performance and value of public assets.

The MOFI boss said the reforms are designed to ensure that government-owned enterprises and investments contribute more effectively to national revenue generation, economic growth and infrastructure development.

He added that strengthening asset management practices would help improve transparency, accountability and efficiency in the management of public resources while creating long-term value for Nigerians.

According to him, the repositioning of MOFI aligns with broader government efforts to implement economic reforms, attract investments and maximise returns from public sector assets.

Takang reaffirmed the agency’s commitment to supporting national development through strategic asset management and sustainable value creation across the Federal Government’s investment portfolio.

The post Democracy Driving Infrastructure Growth and Asset Reforms in Nigeria — MOFI appeared first on Housing TV Africa.

COPEN Group has unveiled a 2,000-unit housing development project and launched a new digital platform aimed at simplifying access to housing finance and property ownership for Nigerians.

The announcement was made during the COPEN Brand Showcase, Stakeholder Appreciation and Strategic Housing Engagement 2026, held at the Amadeo Event Centre in Enugu under the theme, “A Home for Every Dream… A House for Every Pocket.”

The event attracted government officials, housing sector stakeholders, financial institutions, faith-based organisations and members of the public.

Speaking at the event, the Group Managing Director of COPEN, Dr. Ugochukwu Chime, unveiled the flagship Spring City Housing Development located at Umuchigbo, Iji Nike, Enugu.

Chime said the project forms part of the company’s long-term strategy to deliver affordable, structured and sustainable housing communities across Nigeria.

According to him, the development will be executed in phases, beginning with the delivery of 400 housing units in the first phase to ensure quality construction and accessibility for prospective homeowners.

He explained that the project is designed to help individuals and families achieve sustainable homeownership while contributing to broader socio-economic development.

The COPEN chief executive acknowledged the support of the Enugu State Government and host communities in facilitating the successful take-off of the housing initiative.

He noted that beyond providing homes, the project is expected to stimulate economic growth, create jobs, support infrastructure development and enhance community development within the area.

As part of efforts to expand access to housing, Chime also unveiled the “Brother-Sister Help Me Own a House” initiative, which encourages collective support and cooperative financing for aspiring homeowners.

The initiative is being supported by key institutions, including the Ministry of Finance Incorporated (MOFI), the Federal Mortgage Bank of Nigeria (FMBN) and AG Mortgage Bank.

Stakeholders, including the Enugu State Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) and the Ministry of Environment and Climate Change, commended the company’s efforts to deepen mortgage access and promote affordable housing delivery.

A major highlight of the event was the launch of the Urban Home Front Application, a digital platform developed to simplify property subscriptions, documentation processes and mortgage applications through collaboration with partner institutions.

According to COPEN, the platform is expected to reduce bottlenecks in property acquisition and improve access to housing finance for Nigerians.

Participants at the event praised the company’s growing contribution to housing delivery and investment facilitation, citing its record in developing structured residential estates targeted at middle-income earners.

Several partners and clients also shared testimonials, describing the company as credible and reliable in project execution and housing development.

COPEN reaffirmed its commitment to expanding access to affordable housing and promoting inclusive homeownership opportunities in line with its vision of providing “A Home for Every Dream and a House for Every Pocket.”

The post COPEN Unveils 2,000-Unit Housing Project, Launches Digital Homeownership Platform appeared first on Housing TV Africa.

President Bola Tinubu has commended the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) for delivering N128 billion in affordable mortgages to 1,859 families across 25 states of the federation.

The President described the milestone as evidence that the right policy framework, strong institutions and strategic partnerships can significantly expand access to home ownership for millions of Nigerians.

In a statement issued on Tuesday by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said the beneficiaries, spread across the six geopolitical zones, accessed long-term mortgage facilities with repayment periods of up to 20 years at a fixed interest rate of 9.75 per cent per annum and a minimum equity contribution of 10 per cent.

Tinubu Says Affordable Housing Finance Is Key to Wealth Creation

According to the President, access to affordable mortgage financing has remained a major barrier to home ownership for many Nigerians over the past several decades.

“For years, many Nigerians could afford monthly rent but could not access the type of financing required to purchase a home,” Tinubu stated.

“That reality kept countless families out of home ownership and limited their ability to build lasting assets.

“The progress recorded by MREIF shows that with the right policies, strong institutions and effective partnerships, we can expand access to home ownership and create opportunities for more Nigerians to build wealth through asset ownership.”

MREIF Unlocks N221bn in Property Value

Beyond the N128 billion in mortgages already disbursed, the fund has reportedly unlocked N221 billion in total property value and supported the delivery of 475 housing units through off-take guarantee arrangements.

The Presidency noted that the average age of mortgage beneficiaries is 42 years, highlighting strong demand for affordable housing finance among working-age Nigerians who have historically struggled to access long-term mortgage facilities.

Understanding the MREIF Housing Finance Initiative

The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) is a N1 trillion housing finance platform established to improve access to affordable mortgages and stimulate housing development across Nigeria.

Its pilot phase consists of N250 billion in concessionary and commercial funding.

The fund is sponsored by the Ministry of Finance Incorporated (MOFI) and managed by ARM Investment Managers.

Its Series 2 commercial issuance has received strong investment-grade ratings, including AAA from Agusto & Co. and AA from GCR Ratings, reflecting investor confidence in the initiative.

Part of Renewed Hope Housing Agenda

Tinubu explained that MREIF operates alongside other major housing interventions under his administration, including the Renewed Hope Cities and Estates Programme and Family Homes Funds Limited initiatives.

According to him, the programmes serve as complementary pillars of the administration’s broader strategy to reduce Nigeria’s housing deficit, expand affordable housing opportunities and increase home ownership nationwide.

The President reiterated his administration’s commitment to strengthening housing finance mechanisms and creating sustainable pathways for Nigerians to acquire homes through accessible mortgage schemes.

Industry stakeholders have continued to identify affordable mortgage financing as one of the most critical tools required to bridge Nigeria’s housing deficit and stimulate growth in the real estate sector.

The post Tinubu Commends MREIF for Delivering N128bn Mortgages to 1,859 Families appeared first on Housing TV Africa.

The Federal Government has formally inaugurated the board of the Nigerian Consumer Credit Corporation following the disbursement of more than ₦37 billion in consumer loans within its first year of operations, reinforcing its ambition to deepen credit access across the country.

Vice President Kashim Shettima presided over the inauguration ceremony on Thursday, describing consumer credit expansion as a strategic pillar in Nigeria’s journey toward becoming a one-trillion-dollar economy. According to a statement issued by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, the administration views structured credit access as essential for stimulating household consumption and economic growth.

The Vice President disclosed that within just one year, CREDICORP has disbursed over ₦37 billion to more than 200,000 Nigerians, with more than half of the beneficiaries accessing formal credit for the first time. He noted that the milestone signals early progress in bridging Nigeria’s longstanding credit gap and formalising retail lending channels.

President Bola Ahmed Tinubu established CREDICORP to build a trusted consumer credit infrastructure, reduce borrowing costs through catalytic capital, and address the cultural hesitancy toward credit usage. Shettima emphasised that the institution is mandated to provide wholesale funding and credit guarantees via its partner financial institutions, while strengthening credit data systems and identity verification frameworks.

The newly inaugurated board is chaired by Otunba Aderemi Abdul. Other members include Engr. Uzoma Nwagba as Managing Director and Chief Executive Officer; Olanike Kolawole, Executive Director, Operations; and Aisha Abdullahi, Executive Director, Credit and Portfolio Management. Institutional representatives include Dr. Armstrong Ume-Takang of the Ministry of Finance Incorporated, Engr. Bisoye Coke-Odusote of the National Identity Management Commission, and Mohammed Naziru Abbas representing the Federal Ministry of Industry, Trade and Investment. Additional members represent the Federal Competition and Consumer Protection Commission and the Federal Ministry of Finance, alongside independent directors.

Shettima stressed that the long-term sustainability of CREDICORP would depend on the board’s governance discipline, integrity, and adherence to public service regulations. He urged members to comply strictly with the Board Charter and applicable financial management frameworks, underscoring that accountability in the stewardship of public resources remains non-negotiable.

In his remarks, Chairman Aderemi Abdul thanked the President for the confidence reposed in the board and pledged to guide the institution in delivering measurable economic benefits. Managing Director Uzoma Nwagba added that over the past 18 months, the corporation has expanded its reach to students and working Nigerians, widening financial inclusion and supporting asset acquisition.

CREDICORP was launched in 2024 as part of the Federal Government’s strategy to expand access to structured consumer finance. The initiative seeks to reduce the reliance on informal lending, improve credit reporting systems, and stimulate domestic production by linking credit access to locally manufactured goods.

One of its flagship programmes includes a vehicle financing scheme for locally assembled automobiles. In February 2025, the corporation introduced credit facilities for motorcycles and tricycles assembled by Simba (TVS), Nigeria’s leading two- and three-wheeler manufacturer. The initiative followed a December 2024 collaboration between CREDICORP and the National Automotive Design and Development Council, supported by a ₦20 billion consumer credit fund.

Earlier in October 2025, President Tinubu announced during Nigeria’s 65th Independence Anniversary broadcast that 153,000 Nigerians had already benefited from ₦30 billion in affordable loans under the scheme. Beneficiaries reportedly used the facilities to acquire vehicles, solar energy systems, home improvement materials, and digital devices.

The administration has set a target of enabling at least 50 percent of working Nigerians to access consumer credit by 2030. Analysts suggest that achieving this objective will require continued expansion of credit infrastructure, robust risk management systems, and collaboration with financial institutions and identity verification agencies.

With the board now formally inaugurated, the Federal Government appears poised to accelerate the next phase of CREDICORP’s operations, positioning consumer credit as a central driver of financial inclusion, household asset ownership, and macroeconomic growth.

The post FG Inaugurates CREDICORP Board as Consumer Loans Hit ₦37bn in One Year appeared first on Housing TV Africa.

……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.

The post FG Lists ₦1tr MOFI Real Estate Fund on NGX to Drive Affordable Housing appeared first on Housing TV Africa.

Wale Odutola, Chief Executive Officer of ARM Holdings, says the Ministry of Finance Real Estate Investment Fund (MREIF) is transforming Nigeria’s housing market into a credible and investable asset class.

Speaking in an interview with BusinessDay, Odutola explained that the fund was designed to introduce structure, transparency, and governance into a sector long constrained by short-term financing and policy inconsistency.

He said MREIF operates as a regulated, closed-ended collective investment scheme under the Securities and Exchange Commission (SEC), with all transactions managed through independent custodians and trustees to ensure accountability.

Odutola noted that the initiative is building investor confidence by standardising mortgage-backed instruments and creating traceable housing assets with predictable income streams.

He added that the fund aligns public policy and private finance, positioning the Ministry of Finance Incorporated (MOFI) as an anchor investor to de-risk early investments and crowd in pension funds, insurance firms, and development finance institutions.

According to him, MREIF’s multi-layered structure—featuring concessionary, commercial, and hybrid tranches—offers risk protection through MOFI’s first-loss position, while independent governance frameworks safeguard investors’ interests.

Odutola said transparency remains a key differentiator for MREIF, as the fund provides full disclosure through audited reports, performance dashboards, and regulatory oversight, helping to build trust and credibility.

He added that the federal government’s reforms around fiscal discipline and asset optimisation have strengthened investor confidence, with MREIF serving as a model for future infrastructure funds in sectors such as energy, transportation, and manufacturing.

Odutola concluded that MREIF represents a long-term vision for institutional maturity in Nigeria’s financial system, showing that disciplined governance and blended finance can drive sustainable housing and economic development.

The post MREIF Is Making Nigeria’s Housing Market Investable, Says ARM’s Odutola appeared first on Housing TV Africa.

Nigeria’s Ministry of Finance Incorporated (MOFI) has entered into a strategic partnership with the Chartered Risk Management Institute of Nigeria (CRMI) to strengthen risk management practices across government-owned portfolio companies.

The collaboration, formalised through a Memorandum of Understanding signed in Abuja, is aimed at embedding a stronger risk culture within public sector enterprises while positioning them for long-term growth and sustainability.

According to a statement issued on Tuesday, the President and Chairman of Council of CRMI, Mr. Kevin Ugwuoke, commended MOFI’s leadership for its economic impact. He noted that with an estimated asset value of N18 trillion, more than 15,000 indirect employees, and confirmed shareholding in over 52 entities, MOFI is well on its path to realising its target of expanding its portfolio to at least N100 trillion in the next decade.

Ugwuoke also applauded the leadership of MOFI’s Managing Director/CEO, Dr. Armstrong Ume Takang, alongside Executive Director of Risk Management, Mrs. Oluwakemi Babalogbon, and Executive Director of Portfolio Management, Mr. Tajudeen Ahmed, for championing risk-driven practices. He reaffirmed CRMI’s readiness to align with MOFI in advancing international best standards in risk management.

In his remarks, Dr. Takang stressed that many public institutions in the past collapsed due to poor or non-existent risk management systems. He said the partnership will support MOFI’s objectives of asset aggregation, professionalisation of public enterprises, capital mobilisation, and sustainability.

Mrs. Babalogbon explained that the joint capacity-building programme, structured into Level 1 and Level 2 training modules, will target skills development for staff at all levels.

Mr. Ahmed added that beyond financial services, other state-owned enterprises will also benefit significantly from the knowledge exchange enabled by the collaboration.

The event ended with both institutions reaffirming their commitment to strengthening Nigeria’s risk management framework, ensuring state-owned enterprises operate with resilience and global best practices.

The post FG-owned enterprises get boost as MOFI, CRMI seal risk management pact appeared first on Housing TV Africa.