Fed Govt To List N1tr Real Estate Fund On NGX To Boost Affordable Housing

The Federal Government will tomorrow list its N1 trillion real estate investment fund on the Nigerian Exchange (NGX) to expand access to affordable housing and deepen mortgage financing in Nigeria.

The initiative, led by the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, involves the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF), which has already launched two tranches of N250 billion each.

The listing will allow investors to trade units of the real estate investment trust (REIT) and enable the fund to scale up through additional issuances. The MREIF aims to provide long-term mortgage financing of up to 25 years at single-digit interest rates, far below prevailing commercial lending rates.

The scheme is designed to unlock value from Nigeria’s public real estate assets by creating a transparent, market-driven investment platform. Through its NGX listing, the fund will attract private capital, improve liquidity, and strengthen the housing finance ecosystem.

Under the programme, civil servants and other eligible Nigerians will be able to access mortgages with only a 10 per cent equity contribution. The initiative, jointly managed by MOFI, Family Homes Funds Limited (FHFL), and ARM Investment Managers, is supported by a credit line from the African Development Bank to lower overall financing costs.

Managing Director of MOFI, Dr. Armstrong Takang, said the project would make homeownership more affordable. “We set a ceiling of 12 per cent on mortgage rates and are now offering single-digit rates below 10 per cent,” he said.

Takang added that the fund’s focus is on sourcing cheaper financing locally and internationally to ensure that cost savings are passed on to citizens through lower mortgage rates.

National Coordinator of MREIF, Sani Yakubu, said over 10 financial institutions have been onboarded for the initial phase to extend mortgage access nationwide.