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 (MREIF).
According to a statement, this move underscores the FG’s commitment to improving homeownership and empowering the private sector to manage the initiative.
The fund, championed by President Bola Tinubu’s administration and led by Minister of Finance Wale Edun, aims to drive inclusive economic development through affordable housing.
With ARM Investment Managers appointed as the Fund Manager, MREIF will provide long-term, low-cost mortgage financing for homeowners and offtake guarantees for developers. This is expected to enhance housing delivery, create jobs, and stimulate economic growth in the real estate sector.
Following the 100% subscription of the N150bn Series 1 issuance, the Series 2 issuance of N100bn will soon open for private and commercial investors, pending regulatory approval.
MOFI described this as a unique opportunity for institutional investors and high-net-worth individuals to participate in a project that offers economic impact and competitive financial returns while aligning with the United Nations’ Sustainable Development Goals (SDGs).
