Nigeria’s Ministry of Finance Incorporated (MOFI) has officially listed its N1 trillion Series 2 MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange Group (NGX), in a high-profile ceremony in Lagos. The event attracted top government officials, capital market leaders, and private sector stakeholders, highlighting the significance of the listing for both financial markets and national development. With one billion units priced at N100 each, the Fund represents a bold step toward mobilizing private and institutional capital for affordable housing.
Finance Minister Wale Edun described the listing as a “transformative moment” for Nigeria, emphasizing its potential to stimulate economic growth and create jobs. The MREIF, aligned with the government’s Renewed Hope Agenda, aims to deliver sustainable housing solutions while supporting local industries. Rated AAA by Agusto & Co and AA by GCR, the Fund reflects strong investor confidence and a commitment to long-term market sustainability.
Structured as a Public-Private Partnership (PPP), the MREIF merges government policy with market efficiency, channeling long-term funds into Nigeria’s housing sector. MOFI Board Chairman Dr. Shamsuddeen Usman highlighted the Fund’s social impact, noting that over 1,000 mortgages have already been created since May 2025. He emphasized that MREIF is not just a financial product but a catalyst for inclusive growth and shared prosperity across Nigeria.
MOFI’s Managing Director, Dr. Armstrong Ume Takang, underlined the Fund’s role in making homeownership more accessible, offering low-cost mortgages with competitive interest rates and flexible terms. The NGX listing is expected to enhance liquidity, investor diversification, and transparency, providing opportunities for both domestic and diaspora investors. Collaboration with the Securities and Exchange Commission (SEC) and transaction partners has ensured the product meets international governance and sustainability standards.
By combining public policy with private capital, the MREIF seeks to provide long-term mortgage financing at 9.75% interest rates, with tenures of up to 20 years and minimum equity contributions of 10%. The initiative underscores Nigeria’s commitment to affordable housing, financial inclusion, and sustainable economic growth, offering a replicable model for other sectors seeking market-driven solutions for social challenges.
source: nairametrics