The Nigerian Exchange (NGX) on Monday hosted the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, at its Closing Gong Ceremony to commemorate the official listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2.
The ceremony, which drew key figures from government and the financial sector, highlighted the growing synergy between fiscal policy and private investment in driving inclusive national development.
The event also came amid a cautious mood in the equities market as investors recalibrated portfolios in response to ongoing U.S.–Nigeria diplomatic tensions, the proposed Capital Gains Tax (CGT), and year-end rebalancing activity.
Speaking at the event, Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, reaffirmed the Exchange’s commitment to advancing Nigeria’s development agenda by channeling private capital toward impactful projects.
“The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians,” Popoola said.
“Policies such as the Capital Gains Tax must be carefully designed to balance government revenue objectives with investor confidence and market growth. NGX Group remains committed to supporting the Renewed Hope Agenda by mobilizing private capital into initiatives that deliver sustainable, long-term impact.”
In response, Minister Wale Edun assured stakeholders that the Federal Government had taken note of market concerns regarding the Capital Gains Tax and would continue to engage industry players to ensure policy alignment.
“We have noted the concerns around Capital Gains Tax and will continue to engage with the capital market to ensure any decisions deliver optimal outcomes for both Nigerians and the market,” Edun said. “At ₦100 per unit, the MREIF allows ordinary Nigerians to participate in savings and investment, leveraging local resources to grow our economy — particularly in the housing sector.”
Okay News reports that the MREIF Series 2 listing underscores the Federal Government’s efforts to unlock affordable mortgage financing while deepening domestic participation in Nigeria’s housing market.
Ahonsi Unuigbe, Chairman of NGX, described the fund’s listing as a “defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians.”
In his remarks, Jude Chiemeka, CEO of NGX, said the initiative exemplifies how the capital market can deliver real-world solutions to national challenges. “By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing Nigeria’s housing deficit,” he stated.
Dr. Armstrong Ume Takang, Managing Director and CEO of MOFI, explained that the MREIF was designed to provide long-term, low-cost mortgage financing, thereby making homeownership more accessible to millions of Nigerians and stimulating economic activity across the housing value chain.
The event closed with the ceremonial ringing of the NGX Closing Gong, symbolizing a new chapter in Nigeria’s pursuit of inclusive and sustainable economic growth.
