Edun Backs MOFI Estate Project, Seeks Expansion For Affordable Housing

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has commended the progress of the MOFI Real Estate Investment Fund (MRIEF), describing it as a transformative platform for housing finance in Nigeria.

Edun gave the commendation on Wednesday after receiving a delegation from the fund, following a detailed presentation by the Ministry of Finance Incorporated on its performance and impact.

The Minister said the initiative represents a significant milestone in Nigeria’s housing finance landscape, noting that it provides real estate funding at below double-digit interest rates.

He explained that the fund aligns with the directive of President Bola Ahmed Tinubu to implement bold, innovative and people-focused policies aimed at driving inclusive economic growth.

Edun described MRIEF as a successful initiative that reflects the strength of innovation, flexibility and strategic collaboration in addressing critical national challenges.

He stressed the need to scale up the fund to broaden its reach and inclusiveness, particularly in providing affordable housing solutions to Nigerians.

The meeting brought together key stakeholders across the financial and legal ecosystem, including fund managers, merchant banks, trustees, legal advisers and capital market operators.

Participants at the meeting also commended the Minister’s leadership and acknowledged the enabling policy environment created by the current administration, which they said has supported the fund’s progress.