MOFI Real Estate Investment Fund Secures N250bn In Pilot Capital

The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) has successfully closed its N250 billion pilot fundraising, attracting strong private sector participation under a NGN100 billion issuance tranche.

With an Aaa rating from Agusto and an AA rating from GCR, MREIF has established itself as a highly credible, market-driven investment platform to address Nigeria’s housing finance gap. The NGN100 billion Series 2 issuance was fully subscribed, with strong demand across a broad base of institutional investors, thereby depicting high investor confidence in the Fund’s structure and long-term potential

In a statement that wss issued on Thursday, executive director (co-ordinator) of MREIF,

Sani Yakubu said following MOFI’s sole investment in the N150 billion series 1 offer, private sector participation in series 2 was resounding, positioning MREIF as a leading platform for mobilising capital into Nigeria’s real estate sector.

The fund is structured to deliver competitive returns while enabling affordable homeownership through long-term, low-cost mortgage financing at scale.

“The successful close of this pilot phase marks the beginning of a long-overdue transformation of Nigeria’s housing sector,” said Minister of Finance and Coordinating Minister of the Economy, Wale Edun. “The full subscription of Series 2 offer demonstrates the pent-up demand for a structured, long-term housing finance solution, and affirms the private sector’s confidence in MREIF as a sustainable investment vehicle.”

MREIF is designed to address both housing supply and demand constraints, offering: affordable mortgage financing with up to 20-year repayment tenors at interest rates as low as 12%, significantly below commercial rates and off-take guarantees for developers, unlocking financing for large-scale housing projects.

MD/CEO of MOFI, Dr. Armstrong Ume Takang, said MREIF is unlocking new investment frontiers in Nigeria’s housing sector,” adding that “This fully subscribed series demonstrates investor confidence in the Fund structure and long-term potential, which MOFI fully supports.”

With MREIF’s N1 trillion multi-tranche programme now underway, future rounds will focus on broadening investor participation and accelerating housing development. The fund is structured to integrate seamlessly with commercial and mortgage banks, developers and financial institutions to scale long-term housing finance.

Investor engagement opportunities are now open, and institutional partners are encouraged to explore participation in upcoming rounds.

The MOFI Real Estate Investment Fund (MREIF) is a Securities and Exchange Commission (SEC)-approved and regulated fund designed to expand homeownership and strengthen Nigeria’s housing sector.