The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the Series 1 issuance of ₦150 billion for the Real Estate Investment Fund (MREIF), a landmark initiative designed to address the nation’s housing deficit and stimulate economic activity in the real estate and construction sectors.
The full subscription to the Series 1 Fund underscores the Federal Government’s pivotal role as the sponsor while empowering the private sector to lead the implementation and management of the initiative. By seeding the fund with ₦150 billion, the Federal Government has laid a strong foundation for MREIF’s success, ensuring its sustainability and long-term impact under the stewardship of private sector expertise.
ARM Investment Managers (ARM), the appointed Fund Manager for MREIF, will oversee the deployment of funds to provide long-term, low-cost mortgage financing for homeowners and offtake guarantees for developers. These measures are set to ensure the improvement in homeownership and the timely delivery of quality, affordable housing across Nigeria while boosting economic growth.
MREIF aims to transform Nigeria’s housing landscape by facilitating access to low-cost, long-term mortgages for aspiring homeowners. The Fund also has the objective of incentivizing real estate developers through offtake guarantees to raise funding for the construction of affordable housing units as well as stimulating job creation and boosting economic activity in the construction and real estate industries.
With the successful subscription of the entire ₦150 billion in Series 1 issuance and the allotment of 100% of the units to MOFI, the Series 2 issuance of ₦100 billion will be open for private and commercial investors, subject to the Securities and Exchange Commission’s approval. This is a unique opportunity for institutional investors, high-net-worth individuals, and other private stakeholders to participate in a transformative initiative that promises both economic impact and competitive financial returns.
By investing in MREIF, private investors will be supporting the improvement of homeownership in Nigeria, while also benefiting from:
- Attractive returns on investment.
- Diversification of their portfolios with a focus on impact-driven projects.
- Contribution to Nigeria’s economic growth and housing solutions.
- Alignment with the United Nation’s Sustainable Development Goals (SDGs).
The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) is an initiative of President Bola Tinubu’s vision, championed by the Honorable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to improve homeownership and spur inclusive economic development.
