FG Launches MOFI Fund to Make Home Ownership Affordable and Accessible for Nigerians
Abuja, Nigeria—October 22, 2026—The Federal Government, through the Ministry of Finance Incorporated (MOFI), has launched the MOFI Real Estate Investment Fund (MREIF), a private-sector-led programme designed to tackle two of the biggest barriers to home ownership in Nigeria: affordability and accessibility.
In a statement shared by the Presidency, beneficiaries of the fund described the process as seamless, with some approvals completed in as little as two to six weeks.
They praised MREIF as affordable, accessible, transparent, and a solution that arrived at the right time for their family goals.
Addressing Nigeria’s Housing Challenge
MREIF operates as a ₦1 trillion shelf programme structured as a closed-end real estate investment fund under Securities and Exchange Commission regulations.
It began operations in March 2025 with an initial ₦250 billion capitalization through Series 1 and Series 2 issuances.
Sponsored by MOFI and managed by ARM Investment Managers Limited, the fund mobilizes both public concessionary capital and private commercial funding.
It provides long-term, lower-cost mortgages—typically around 9.75 per cent interest with tenors of up to 20 years and a minimum equity contribution of about 10 per cent—to make homeownership realistic for more Nigerian families.
The initiative forms part of President Bola Tinubu’s Renewed Hope Agenda and aims to help close Nigeria’s estimated multi-million unit housing deficit while stimulating activity in the construction and real estate sectors.
Early Impact and Beneficiary Experience
By mid-2026, the fund had already disbursed over ₦130 billion in mortgages, supporting more than 1,900 homebuyers across dozens of states and all six geopolitical zones.
The commercial tranche is listed on the Nigerian Exchange and carries strong credit ratings, reflecting investor confidence in the public-private partnership model.
In the Presidency’s video feature, ordinary Nigerians who accessed MREIF loans spoke of reduced bureaucracy, clear processes and the relief of finally securing homes for their families—experiences that stand in contrast to the traditionally high-interest, short-tenure options offered by many commercial lenders.
Officials present the fund as a scalable platform that blends government support with private-sector efficiency to deliver measurable results in housing finance.
As MREIF continues to expand its reach, the Federal Government says the focus remains on turning the dream of home ownership into a practical reality for more citizens while strengthening the broader housing market.
This report is based on the official statement and video released by the Presidency of Nigeria on October 22, 2026, supplemented by publicly available information on the MOFI Real Estate Investment Fund.
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