The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the Series 1 issuance of N150 billion for the Real Estate Investment Fund, reinforcing its commitment to housing development and economic growth.
A recent statement highlighted that the full subscription to the Series 1 Fund affirms the FG’s role as a sponsor while positioning the private sector to drive implementation and management.
The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) is a key initiative aligned with President Bola Tinubu’s vision. It is spearheaded by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. It is designed to enhance homeownership opportunities and foster inclusive economic development.
“With an initial seed funding of N150 billion, the Federal Government has established a strong foundation for MREIF, ensuring its sustainability and long-term impact under private sector leadership,” the statement noted.
The appointed fund manager, ARM Investment Managers, will oversee the deployment of funds to provide long-term, low-cost mortgage financing for homeowners and offtake guarantees for developers. This initiative is expected to improve access to affordable housing, accelerate homeownership, and drive economic growth across Nigeria.
MREIF is set to transform Nigeria’s housing sector by facilitating access to affordable, long-term mortgage financing while incentivizing developers through off-take guarantees. The fund aims to stimulate job creation and strengthen economic activities in the real estate and construction industries.
Following the successful subscription of the N150 billion Series 1 issuance, MOFI announced that the Series 2 issuance, valued at N100 billion, will soon be open to private and commercial investors, pending approval from the Securities and Exchange Commission (SEC).
“This presents a strategic opportunity for institutional investors, high-net-worth individuals, and private stakeholders to participate in a transformative initiative that delivers both economic impact and competitive financial returns,” the statement added.
MOFI emphasized that private investors in MREIF will contribute to expanding homeownership in Nigeria and benefit from attractive returns, diversified investment portfolios, and alignment with the United Nations’ Sustainable Development Goals (SDGs).
