MOFI Real Estate Investment Fund Raises N250bn To Boost Housing Scheme

The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has closed its N250 billion pilot fundraising, marking a major step towards bridging the country’s housing finance gap.

The N100 billion Series 2 issuance was fully subscribed, reflecting strong demand from institutional investors and affirming market confidence in the fund’s structure and long-term potential.

This is as the Africa International Housing Show (AIHS) announced a landmark partnership with the MOFI to address Nigeria’s housing deficit through strategic engagement and investment.

The N250 billion funding follows MOFI’s initial N150 billion investment in Series 1, with the Series 2 offer attracting robust private sector participation.

This shift underscores the private sector’s readiness to invest in structured housing finance solutions, providing affordable homeownership opportunities to Nigerians.

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

Minister of Finance and coordinating minister of the economy, Wale Edun, stated that the successful close of this pilot phase marks the beginning of a long-overdue transformation in Nigeria’s housing sector, according to a statement from MOFI.

Edun noted that the full subscription of Series 2 demonstrates pent-up demand for structured housing finance solutions and investor confidence in MREIF as a sustainable investment vehicle.

MREIF is designed to address both supply and demand constraints in the housing market.

It offers affordable mortgage financing with repayment tenors of up to 20 years at interest rates as low as 12 per cent, significantly below commercial rates.

Additionally, the fund provides off-take guarantees for developers, unlocking financing for large-scale housing projects.

Meanwhile, the AIHS-MOFI collaboration will be spotlighted during a one-day stakeholders engagement and enlightenment programme at AIHS 2025, scheduled to hold from July 27 to August 1, 2025, in Abuja.

The engagement is part of MOFI’s broader initiative to raise awareness about its housing intervention programmes and deepen its collaboration with key players in the housing finance ecosystem.

The session will feature leading experts, policymakers, and private sector players, all focused on unlocking new solutions for affordable housing delivery in Nigeria.

With an ambitious N1 trillion target to support housing development, MOFI has already raised and fully subscribed to the first tranche of N250 billion—underscoring strong investor confidence in the initiative.

These funds are expected to provide critical financial support for affordable housing projects nationwide, particularly for low- and middle-income earners.

MOFI’s presence at AIHS 2025 will include high-level panel discussions, technical sessions, and direct engagement with real estate developers, investors, and offtakers.

The aim is to demonstrate how structured financing and public-private partnerships can fast-track the delivery of sustainable and affordable housing across the country.

The initiative will also align with the efforts of key institutions such as the Family Homes Funds Limited (FHFL), the Federal Mortgage Bank of Nigeria (FMBN), the Nigeria Mortgage Refinance Company (NMRC), and the Federal Housing Authority (FHA), all of which play critical roles in Nigeria’s housing ecosystem.

Speaking on the partnership, AIHS founder and convener, Festus Adebayo, described the collaboration as a bold step towards transformative housing finance reform. “AIHS has always been a platform for innovation and action. MOFI’s participation will not only bring visibility to its groundbreaking work but also drive meaningful conversations around the future of housing in Nigeria.”

MOFI’s managing director/CEO, Dr. Armstrong Takang, emphasised that the partnership with AIHS is part of a long-term strategy to engage stakeholders and implement scalable solutions that align with global best practices.

“We are committed to leveraging capital and partnerships to close the housing gap and improve the quality of life for millions of Nigerians,” he said.

As Africa’s largest housing and construction event, AIHS 2025 is expected to attract thousands of participants, including government officials, developers, investors, financiers, and international partners.

The MOFI-AIHS collaboration is set to be a key highlight of the event, paving the way for policy innovation, investment opportunities, and practical solutions to Nigeria’s housing crisis.