The Ministry of Finance Incorporated (MoFI) Real Estate Investment Fund (MREIF) has secured N250bn from its Series 1 and 2 issuances and is now targeting an additional N1tn from investors.
The capital raise aims to unlock private investment in Nigeria’s housing sector, according to a regulatory filing. The funds will also provide affordable mortgage financing with repayment periods of up to 20 years at a 12% interest rate.
The latest issuance, N100bn Series 2, was fully subscribed by institutional investors, following MoFI’s N150bn investment in Series 1.
Finance Minister Wale Edun described the success as a milestone for Nigeria’s housing sector, emphasizing the private sector’s confidence in MREIF.
With top credit ratings—Aaa from Agusto and AA from GCR—the fund is set to launch an N1tn multi-tranche programme, focusing on expanding investor participation and boosting housing development.
The fund is structured to integrate with commercial banks, mortgage institutions, developers, and financial bodies to scale long-term housing finance in Nigeria.
