Nigeria’s housing and capital markets received a major boost on Tuesday as the Ministry of Finance Incorporated (MOFI) listed its Real Estate Investment Fund (MREIF) on the Main Board of the Nigerian Exchange Limited (NGX).

The listing of 1 billion units at ₦100 per unit, under a ₦1 trillion issuance programme, marks a pivotal step in the Federal Government’s drive to mobilise private and institutional capital for affordable housing and sustainable national development.

At a closing gong ceremony to commemorate the listing at the NGX, Mr Wale Edun, Honourable Minister of Finance and Coordinating Minister of the Economy, described the MREIF as a transformative approach to affordable housing, adding that it would mobilise private capital, create jobs, and stimulate economic growth.

“The MREIF represents a practical expression of the Tinubu administration’s Renewed Hope Agenda. It’s not just about housing; it’s about empowerment. With this listing, ordinary Nigerians can now participate directly in wealth creation and national development at ₦100 per unit,” Edun said.

He highlighted that the Fund, rated AAA by Agusto & Co. and AA by GCR, has already created over 1,000 mortgages since May 2025, providing long-term, low-cost housing finance at an average interest rate of 9.75 per cent and a loan tenure of up to 20 years.

Edun noted that the initiative aligns with President Tinubu’s broader economic reforms aimed at stabilising the naira, improving reserves, and driving inclusive growth.

“Even from your trading screens, you can see progress. The improvement in the stock market index reflects confidence in reforms, in policy consistency, and in Nigeria’s economic future,” he said, while reaffirming the government’s commitment to ongoing fiscal and tax reforms. He assured stakeholders that all necessary consultations would be made to ensure proper execution and sustained growth.

Dr 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 catalyst for inclusive prosperity.

“The MREIF is more than an investment instrument; it is a catalyst for progress and inclusion. Through this platform, we are mobilising private and institutional capital to deliver real impact — housing, jobs, and opportunities for millions,” Dr Usman said.

Dr Armstrong Ume Takang, Managing Director and CEO of MOFI, emphasised that the Fund’s listing underscores MOFI’s mandate to strategically deploy capital for national development.

“This listing enhances transparency, liquidity, and investor participation, including from the diaspora. It’s a clear signal that policy, purpose, and private capital can work together to build the Nigeria we all envision,” he said.

He commended the Securities and Exchange Commission (SEC), NGX, and transaction partners — Vetiva Securities Limited and Citi Investment Capital Limited — for their professionalism in structuring the Fund to meet global governance and sustainability standards.

The MOFI Real Estate Investment Fund (MREIF) is a Public-Private Partnership (PPP)-structured initiative designed to provide long-term, low-cost mortgage financing while guaranteeing returns to investors.

The Fund serves both the demand and supply sides of the housing value chain, offering mortgage financing to homebuyers and providing construction funding guarantees to qualified developers.

This dual mechanism aims to accelerate housing delivery, create jobs, and stimulate economic growth, aligning with the Federal Government’s objective of achieving sustainable development through private sector-driven reforms.

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