The listing of the MOFI Real Estate Investment Fund (MREIF) series 2 programme could be a game-changer in Nigeria’s pursuit of affordable housing and cutting its huge deficit estimated at more than 28 million.
The government-backed housing finance fund which targets N1 trillion in funding is designed to provide long-term, low-cost mortgage financing at 9.75 percent interest rate, making homeownership a reality for millions while stimulating local economies across the housing value chain.
Wale Edun, the minister of Finance and the coordinating minister of the economy, described the listing as “a milestone in our capital market’s contribution to solving one of Nigeria’s critical challenges: affordable housing”, urging investors, developers, and every well meaning Nigerian to tap into the opportunities of the programme.
“MREIF provides a transparent, structured, and sustainable platform to mobilise private capital for real estate and expand home ownership. It also deepens Nigeria’s financial system, diversifies investment options, and promotes sustainable growth,” Edun said as he rang the Closing Gong at the Nigerian Exchange (NGX) on Tuesday.
“Together, we are advancing a future where affordable housing becomes a right, not a privilege.”
Temi Popoola, the GMD/CEO, NGX Group, said the listing of MREIF reflects how the market can channel private capital into national priorities like housing, infrastructure, and inclusive growth, creating tangible value for Nigerians and deepening financial inclusion across sectors.
“At NGX Group, we continue to demonstrate the strength and resilience of Nigeria’s capital market, where policy ambition meets investor opportunity,” Popoola said.
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A public-private partnership (PPP) initiative between the Federal Government, the Ministry of Finance Incorporated (MOFI), and Asset & Resource Management Holding Company (ARM) Limited, aims to rebuild Africa’s most populous nation’s middle class through accessible homeownership while leveraging ARM Holding’s three decades of expertise in fund management and infrastructure finance.
In his comments, Wale Odutola, group CEO, ARM Holding Company, said listing MREIF was a deliberate attempt to build “new architecture” for Nigeria’s financial future by creating new homeowners.
“Ringing the gong is an affirmation of our core thesis; that investing in housing is a direct investment in the foundations of the capital market.”
Representing Shamsuddeen Usman, chairman of the MOFI Board, Ike Chioke, a member of the MOFI board added: “The MRIEF is a catalyst for progress and inclusion. 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 mission of a dynamic and resilient economy that works for all.”
MREIF represents a large-scale market intervention designed to provide a scalable solution to Nigeria’s housing deficit.
The special collaboration between the Ministry of Finance, Ministry of Finance Incorporated and ARM Limited has built a novel framework to solve infrastructure problems across the African continent.
In doing so, it empowers a new generation of Nigerians to build personal wealth and financial security through the tangible asset of homeownership.
This resurgence of a property-owning middle class creates a new and sustainable class of domestic capital, which forms the bedrock of a healthy capital market and fuels deeper, more inclusive economic growth.
Ahonsi Unuigbe, chairman, NGX, described the listing as a “defining step towards transforming Nigeria into one of the largest and most significant economies in the world.”
Armstrong Ume Takang, MD/CEO of MOFI, highlighted MOFI’s role as the Federal Government’s Investment vehicle and sponsor of the MRIEF.
“This listing underscores MOFI’s mission to deploy capital strategically and for national transformation,” Takang said
Jude Chiemeka, CEO, NGX, noted: “The listing of MREIF demonstrates the Nigerian capital market’s ability to deliver real solutions to societal challenges.
“By channeling private capital into housing, we are not only addressing the nation’s housing deficit but also creating new opportunities for long-term investment and wealth creation for Nigerians.”
NGX acknowledged that MREIF’s presence signals strong market confidence and investor credibility. The fund provides sustainable, long-term capital that aids liquidity and growth in the Nigerian mortgage sector.
With the achievement of over 1,000 mortgages disbursed, MREIF reinforces its commitment to transforming the nation’s housing deficit into a new era of middle-class prosperity and capital market depth.
