The federal government, through the Ministry of Finance Incorporated (MOFI) has listed N1 trillion MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange Limited (NGX), to mobilise private capital to finance affordable housing and strengthen Nigeria’s capital market.
The listing, introduced by Vetiva Securities Limited in partnership with Citi Investment Capital Limited, covers one billion units of N100 each under the N1 trillion issuance programme on the NGX Main Board.
Also, the minister of finance and the coordinating minister of the economy, Wale Edun, said there were talks to review the controversial capital gains tax (CGT) ahead of its implementation next January.
Speaking at the listing of the MOFI Real Estate Investment Fund on the Nigerian Exchange on Tuesday, Edun said the CGT, a part of a series of tax reform measures by the government, which have generated concerns from investors and brokers alike, would be looked into to allow “optimum results”.
“We have heard what you have said about capital gains tax. We are looking at it. We will listen. We will analyse. We will discuss, and we will, at the end of it, decide, and hopefully we will decide what is best for Nigeria.”
Nigeria is tripling the capital gains tax for foreign equity investors from 10 per cent, a move analysts say is likely the reason for the bearish trend in the market, which has shed about eight per cent in one week.
Edun’s guidance for a likely review is expected to usher in a turnaround for the market and allay fears that have led to the market’s recent losses, despite an increase of about 40 per cent since January.
Meanwhile, the MREIF is a government-backed, market-driven fund designed to mobilise private and institutional capital into Nigeria’s housing sector. Structured under a Public-Private Partnership framework, the MREIF provides affordable housing finance, supports job creation, and promotes inclusive economic growth nationwide.
The Fund currently provides mortgage financing to Nigerians at a competitive interest rate of 9.75 per cent, with a maximum loan tenure of 20 years and a minimum equity contribution of 10 per cent, making homeownership more accessible and sustainable for households nationwide.
Speaking on the Fund, Edun reaffirmed President Bola Ahmed Tinubu’s commitment to addressing Nigeria’s housing deficit through innovative, market-driven financing models.
“The MREIF represents a transformative approach to affordable housing, mobilising private and institutional capital into the housing sector, creating jobs, and stimulating economic growth,” Edun stated.
He noted that “with strong credit ratings of AAA by Agusto & Co and AA by GCR, the Fund demonstrates investor confidence and provides a sustainable model for financing social infrastructure through public-private partnerships.”
He added that the MREIF was already operational, with over 1,000 mortgages created since disbursements commenced in May 2025, demonstrating the Fund’s early impact and scalability.
The chairman of the Board of MOFI, Dr Shamsuddeen Usman, described the listing as a significant leap forward in deepening Nigeria’s capital markets and unlocking the potential of real estate as a driver of inclusive growth.
“The MREIF is more than an investment instrument; it is a catalyst for progress and inclusion,” Dr. Usman said. “Through MOFI’s sponsorship, we are mobilising private and institutional capital to address the housing and infrastructure needs of millions of Nigerians, while supporting the federal government’s vision of a dynamic and resilient economy that works for all,” he said.
Additionally, Dr Armstrong Takang, the managing director/CEO of MOFI, highlighted MOFI’s role as the federal government’s investment vehicle and sponsor of the MREIF.
Takang said, this listing underscores MOFI’s mission to deploy capital strategically for national transformation, explaining that the MREIF is designed to provide long-term, low-cost mortgage financing, making homeownership a reality for millions while stimulating local economies across the housing value chain.
The CEO of NGX, Jude Chiemeka, commended MOFI for professionalism and collaboration in structuring the MREIF to meet global standards of governance and sustainability.
He assured that the Exchange remained a platform for capital raising to support critical sectors of the economy, including housing, infrastructure, and other socially impactful investments.
The Group CEO, ARM Holding Company, Wale Odutola, stated, “Ringing the gong is an affirmation of our core thesis; that investing in housing is a direct investment in the foundations of the capital market. By creating new homeowners, we are working to create the next generation of investors. This is the new architecture for Nigeria’s financial
future.”
SOURCE: LEADERSHIP NEWS PAPER
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