- MOFI Real Estate Investment Fund (MREIF) Secures N250 Billion: MREIF has successfully raised N250 billion to finance affordable housing in Nigeria, with N100 billion coming from private investors through a fully subscribed Series 2 issuance .
- Affordable Mortgage Financing: MREIF aims to provide affordable mortgage financing with repayment periods of up to 20 years and interest rates starting at 12% .
- Addressing Nigeria’s Housing Deficit: The fund seeks to address Nigeria’s estimated 20 million housing deficit, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda .
- Private Sector Participation: The successful Series 2 issuance demonstrates strong private sector participation and confidence in MREIF as a sustainable investment vehicle .
- Long-term Housing Finance: MREIF is positioned as a key driver of investment in long-term housing finance, providing a framework for seamless integration with commercial banks, mortgage providers, developers, and financial institutions .
The Ministry of Finance Incorporated (MOFI) has secured a whopping N250 billion to finance affordable housing in Nigeria. This funding was raised through the MOFI Real Estate Investment Fund (MREIF), with N100 billion coming from the Series 2 offering in February 2025, which was fully subscribed by private investors .
This is a significant milestone, as it brings the total funding under MREIF to N250 billion. The Minister of Finance, Wale Edun, hailed this achievement, saying it marks the beginning of a long-overdue transformation of Nigeria’s housing sector.
So, what does this mean for Nigeria’s housing sector? Well, MREIF is designed to address both housing supply and demand constraints. It provides affordable mortgage financing with up to 20-year repayment tenors at interest rates as low as 12 percent, significantly below commercial rates.
The Managing Director of MOFI, Armstrong Takang, emphasized that MREIF is unlocking new investment frontiers in Nigeria’s housing sector. With a N1 trillion multi-tranche programme underway, future rounds will focus on broadening investor participation and accelerating housing development.
This is definitely a step in the right direction for Nigeria’s housing sector, and we can expect to see more developments in the coming years.
