The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund has raised N100 billion from private investors through its fully subscribed Series 2 issuance.
Sani Yakubu, executive director of MOFI Real Estate Investment Fund (MREIF), disclosed this in a statement on Thursday. The Series 2 issuance is part of MREIF’s initiative to provide affordable housing in Nigeria.
In December 2024, MOFI launched Series 1, a N150 billion fund aimed at addressing Nigeria’s housing challenges. With the successful completion of Series 2, MREIF has now raised a total of N250 billion in its pilot fundraising.
Unlike Series 1, which was fully backed by MOFI, Series 2 attracted strong interest from private and institutional investors. This reiterates both the growing demand for structured housing finance and investor confidence in MREIF.
Speaking on the development, Wale Edun, minister of Finance and coordinating minister of the Economy, 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.”
Armstrong Takang, managing director and CEO of MREIF, noted the strong investor participation in Series 2 as a sign of confidence in MREIF’s potential to mobilise housing finance at scale.
