- Secures NGN250 Billion in Pilot Fundraising, Fully Subscribes Series 2 Offer
The MOFI Real Estate Investment Fund (MREIF) has successfully completed its NGN250 billion pilot fundraising, marking a significant milestone in Nigeria’s housing finance sector.
The NGN100 billion Series 2 issuance was fully subscribed, reflecting strong private sector confidence in the fund’s structure and long-term potential.
The announcement was made in a statement by Sani Yakubu, Executive Director (Coordinator) of MREIF, confirming that institutional investors demonstrated robust demand for the offer.
MREIF has emerged as a credible, market-driven investment platform, backed by Aaa and AA ratings from Agusto and GCR, respectively.
The fund aims to bridge Nigeria’s housing finance gap by mobilizing capital into the sector.
Following MOFI’s sole investment in the NGN150 billion Series 1 offer, the full subscription of Series 2 highlights increasing private sector participation, positioning MREIF as a key player in unlocking long-term, low-cost mortgage financing at scale.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, described the successful closure of the pilot phase as a turning point for Nigeria’s housing sector.
“The full subscription of the Series 2 offer demonstrates the pent-up demand for structured, long-term housing finance and affirms the private sector’s confidence in MREIF as a sustainable investment vehicle,” Edun stated.
MREIF is designed to tackle housing supply and demand constraints by offering affordable mortgage financing with up to 20-year repayment tenors at interest rates as low as 12%.
A rate that is significantly lower than commercial rates and off-take guarantees for developers; and, unlocking financing for large-scale housing projects.
According to Dr. Armstrong Ume Takang, MD/CEO of MOFI, the fund is opening new investment opportunities in Nigeria’s housing sector.
“MREIF is unlocking new investment frontiers in Nigeria’s housing sector. This fully subscribed series demonstrates investor confidence in the fund structure and its long-term potential, which MOFI fully supports,” Takang said.
The coordinator also noted that with MREIF’s NGN1 trillion multi-tranche programme now in progress, future fundraising rounds will focus on increasing private sector participation and accelerating housing development, as the fund is structured to integrate with commercial banks, mortgage institutions, developers, and other financial players to expand access to housing finance.
He also noted that investor engagement opportunities are now open, and institutional partners are encouraged to participate in upcoming rounds.
The MOFI Real Estate Investment Fund (MREIF) is a Securities and Exchange Commission (SEC- approved) and regulated investment vehicle focused on expanding homeownership and strengthening Nigeria’s housing sector.
By combining public and private sector capital, MREIF seeks to improve housing affordability while driving economic growth.
With NGN250 billion already raised, the fund is a key driver of investment in long-term housing finance.
