The Ministry of Finance Incorporated (MoFI) Real Estate Investment Fund (MREIF) has successfully raised ₦250 billion from its Series 1 and 2 issuances, with plans to secure an additional ₦1 trillion from investors. This ambitious capital raise is designed to unlock private capital for housing in Nigeria, aiming to bridge the country’s housing deficit while providing affordable mortgage financing with up to 20-year repayment tenors at a 12% interest rate.

According to a regulatory filing seen by THE WHISTLER, the latest issuance—the ₦100 billion Series 2—was fully subscribed, reflecting strong demand among institutional investors. This comes after MoFI’s initial ₦150 billion investment in the Series 1 offer.

Commenting on the success, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized that the oversubscription of Series 2 underscores the private sector’s confidence in MREIF and the urgent need for a structured, long-term housing finance solution.

Backed by strong credit ratings—Aaa from Agusto & Co. and AA from GCR—MREIF is now gearing up for its ₦1 trillion multi-tranche expansion programme. Future rounds will broaden investor participation and accelerate the development of housing across the country.

The fund is structured to seamlessly integrate with commercial and mortgage banks, developers, and financial institutions, creating a sustainable ecosystem for long-term housing finance.

Key Takeaways:

✅ ₦250bn raised from Series 1 and 2, with a ₦1tn target ahead
✅ ₦100bn Series 2 was fully subscribed, showing strong investor interest
✅ Affordable mortgage financing with up to 20-year repayment at 12% interest
✅ High credit ratings (Aaa from Agusto, AA from GCR) boost investor confidence
✅ MoFI’s strategy aims to scale up housing development and unlock private capital

This marks a major step towards transforming Nigeria’s housing sector, setting the stage for a more accessible and affordable mortgage market.