The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) on Tuesday listed the commercial tranche of the Fund on the Nigerian Exchange Group (NGX) — marking a major milestone in Nigeria’s drive to mobilise private capital for affordable housing and sustainable economic growth.
The listing event held at the NGX on Tuesday November 11 brought together government officials, private sector leaders, and capital market stakeholders to celebrate this landmark achievement.
The MOFI Real Estate Investment Fund (MREIF) is a government-backed, market-driven fund designed to mobilise private and institutional capital into Nigeria’s housing sector. Structured under a Public-Private Partnership framework, the MREIF provides affordable housing finance, supports job creation, and promotes inclusive economic growth across the country.
The Fund currently provides mortgage financing to Nigerians 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 and sustainable for households nationwide.
The listing on NGX enhances the Fund’s visibility, liquidity, and investor diversification—creating opportunities for both institutional and retail investors, including the Nigerian diaspora, to participate in a socially impactful asset class. It also reinforces transparency and trust through NGX’s rigorous disclosure and governance framework.
Delivering his remarks, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, reaffirmed President Bola Ahmed Tinubu’s commitment to addressing Nigeria’s housing deficit through innovative, market-driven financing models.
“The MREIF represents a transformative approach to affordable housing—mobilizing private and institutional capital into the housing sector, creating jobs, and stimulating economic growth,” Edun stated.
“With strong credit ratings of AAA by Agusto & Co and AA by GCR, the Fund demonstrates investor confidence and provides a sustainable model for financing social infrastructure through public-private partnerships,” he said.
He noted that the MREIF is already operational, with over 1,000 mortgages created since disbursements commenced in May 2025 demonstrating the Fund’s early impact and scalability.
The Ministry of Finance Incorporated (MOFI) is the investment vehicle of the Federal Government of Nigeria, responsible for managing, investing, and optimising public assets to drive national development.
MOFI serves as the sponsor organisation for the MOFI Real Estate Investment Fund (MREIF) and other strategic initiatives that unlock value and stimulate economic transformation.
Speaking at the ceremony, Shamsuddeen Usman, chairman of the Board of MOFI, described the listing as “a major leap forward in deepening Nigeria’s capital markets and unlocking the potential of real estate as a driver of inclusive growth.”
“The MREIF is more than an investment instrument—it is a catalyst for progress and inclusion,” Usman said. “Through MOFI’s sponsorship, we are mobilising private and institutional capital to address the housing and infrastructure needs of millions of Nigerians, while supporting the Federal Government’s vision of a dynamic and resilient economy that works for all.”
Armstrong Ume Takang, Managing Director/CEO of MOFI, highlighted MOFI’s role as the Federal Government’s investment vehicle and sponsor of the MREIF.
“This listing underscores MOFI’s mission to deploy capital strategically for national transformation,” Takang said. “The MREIF is designed to provide long-term, low-cost mortgage financing, making homeownership a reality for millions while stimulating local economies across the housing value chain.”
He commended the key transaction partners, the Securities and Exchange Commission (SEC), and the Nigerian Exchange Group (NGX Group) for their professionalism and collaboration in structuring the MREIF to meet global standards of governance and sustainability.
Built on a Public-Private Partnership (PPP) model, the MREIF blends private capital and public policy to deliver long-term, affordable mortgage financing at scale—aligning with the Renewed Hope Agenda of the Tinubu administration.
“Today’s listing is more than a financial milestone it is a tangible demonstration of how policy, capital, and purpose can intersect to deliver real impact,” Usman concluded.
“Through MOFI’s stewardship and the continued support of our partners, we are charting a new path defined by progress, prosperity, and opportunity for all Nigerians.”
Source: businessday.ng