Game-Changer for Affordable Housing as MoFI Secures N250bn Investment, Targets N1tnThe Ministry of Finance Incorporated (MoFI) Real Estate Investment Fund (MREIF) has secured N250billion from its Series 1 and 2 issuances and is now targeting an additional N1trillion 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 percent interest rate.The latest issuance, N100billion Series 2, was fully subscribed by institutional investors, following MoFI’s N150billion 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 N1trillion multi-tranche programme, focusing on expanding investor participation and boosting housing development.
