MOFI Real Estate Fund raises N100 billion from investors, plans 12% housing loans for Nigerians 

The issuance forms part of MREIF’s N250 billion pilot fundraising, aimed at bridging the country’s housing finance gap.

The announcement was contained in a statement signed by Sani Yakubu, Executive Director (Coordinator), MREIF, on Thursday.

According to the statement, the Series 2 issuance saw strong institutional investor participation, reflecting market confidence in the fund’s structure and long-term potential.

The fund holds an Aaa rating from Agusto & Co. and an AA rating from Global Credit Rating (GCR), positioning it as a credible and market-driven investment platform.

Unlike the N150 billion Series 1 issuance, which was solely backed by MOFI, the Series 2 offer attracted private sector investors, reinforcing MREIF’s role in mobilising long-term capital for affordable housing finance.

Commenting on the development, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, described the full subscription of the Series 2 offer as a reflection of pent-up demand for structured housing finance solutions and investor confidence in MREIF’s model.

“The successful close of this pilot phase marks the beginning of a long-overdue transformation of Nigeria’s housing sector,” Edun said. 

“With this initiative, we are unlocking private capital and positioning MREIF as a sustainable, market-driven investment vehicle. The full subscription of the Series 2 offer demonstrates that Nigeria’s private sector is ready to invest in structured, long-term housing finance solutions that will provide affordable homeownership opportunities to Nigerians.” 

The MREIF structure is designed to address key housing finance constraints, offering:

Speaking on the fund’s long-term outlook, Dr Armstrong Ume Takang, MD/CEO of MOFI, noted that the fully subscribed issuance signals strong investor confidence in MREIF as a platform for mobilising housing finance at scale.

“MREIF is unlocking new investment frontiers in Nigeria’s housing sector,” Takang said. 

“This fully subscribed Series 2 issuance demonstrates investor confidence in the Fund’s structure and long-term potential, which MOFI fully supports.” 

With MREIF’s NGN1 trillion multi-tranche programme now in motion, the fund’s next phase will focus on expanding private sector participation and accelerating large-scale housing development.

The fund is structured to integrate with commercial banks, mortgage providers, developers, and financial institutions to strengthen long-term housing finance, the statement noted.

MREIF is expected to play a key role in closing Nigeria’s housing deficit by providing structured capital for affordable housing initiatives.

MREIF is expected to play a key role in closing Nigeria’s housing deficit by providing structured capital for affordable housing initiatives.

The MOFI Real Estate Investment Fund (MREIF) is a Securities and Exchange Commission (SEC)-approved investment fund designed to expand homeownership and strengthen Nigeria’s housing finance sector.