FG lists N1trn MOFI Real Estate Fund on NGX

•Initiative to boost housing, widen market participation

By Chinwendu Obienyi and Chukwuma Umeorah

The federal government on Tuesday listed the N1 trillion Managed Real Estate Investment Fund (MREIF) Series 2, managed by the Ministry of Finance Incorporated (MOFI), on the Nigerian Exchange Limited (NGX) in a landmark step toward unlocking value from public real estate assets deepening Nigeria’s capital market and bridging the current housing deficit.

The listing was commemorated with a Closing Gong Ceremony at the Exchange, led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who described the fund as a critical vehicle for driving housing development, financial inclusion, and sustainable growth.

MREIF is designed to transform Nigeria’s portfolio of public real estate assets into a transparent, market-driven investment platform. By pooling these assets into a fund listed on the NGX, Edun noted that the government aims to create new avenues for citizens and institutions to invest in the real estate sector while promoting asset monetisation and private sector participation.

According to Edun, the listing aligns with President Bola Tinubu’s reform agenda to build a $1 trillion economy by expanding investment opportunities and strengthening domestic capital formation.

“By listing this fund at N100 per unit, we are making it possible for ordinary Nigerians, not just the wealthy, to participate in the savings and investment culture needed to grow our economy sustainably. Through the Exchange, Nigerians can now invest in real estate as a pathway to wealth creation and long-term prosperity”, the Minister remarked.

Edun noted that the initiative would help address the gap between Nigeria’s eight million pension fund accounts and fewer than one million stockbroking accounts, urging citizens to embrace capital market participation as a way to mobilize domestic savings for national development.

“The challenge before us is to enable more Nigerians to save, invest, and key into the President’s reform agenda. That is how we will grow the economy, create jobs, and lift millions out of poverty,” he added.

Highlighting the strong performance of Nigeria’s capital markets so far, Edun linked the growth to renewed investor confidence and ongoing macroeconomic reforms. “The market has about 850,000 active clients and is up by roughly 50 percent this year, with total capitalization now around $100 billion. These gains reflect the confidence that comes when major distortions are removed and stability returns to the economy,” he said.

He listed exchange rate stability, rising government revenues, and increasing reserves among the key indicators of improvement, while assuring investors that the government remains committed to policy transparency and consistency.

On taxation, the minister pledged that the recently enacted Tax Reform Act would be implemented through broad-based consultation to ensure fairness and market sensitivity.

“We have heard your concerns on capital gains tax. We will analyze it, consult widely, and ensure the outcome benefits Nigeria and Nigerians, including the capital market,” he said.

Chairman of the Board of MOFI, Shamsuddeen Usman, described the listing as a major leap forward in deepening Nigeria’s capital markets and unlocking the potential of real estate as a driver of inclusive growth.

“The MREIF is more than an investment instrument, it is a catalyst for progress and inclusion. Through MOFI’s sponsorship, we are mobilizing private and institutional capital to address the housing and infrastructure needs of millions of Nigerians, while supporting the Federal Government’s vision of a dynamic and resilient economy that works for all”, he remarked.

For his part, Managing Director, MOFI, Dr Armstrong Takang, described the listing as a milestone in the government’s drive towards promoting affordable home ownership. “This listing underscores MOFI’s mission to deploy capital strategically for national transformation. The MREIF is designed to provide long-term, low-cost mortgage financing, making homeownership a reality for millions while stimulating local economies across the housing value chain”, Takang said.

The MREIF listing executed by Vetiva Securities Limited and City Investment Capital Limited marks the second in a series of issuances under MOFI’s N1 trillion programme aimed at monetizing public assets and catalyzing investment-led growth in the housing and real estate sector. The Series 2 Fund is valued at N100 billion, but it sits within a bigger programme of N1 trillion planned for long-term capital raising.

It also has a very unusual feature, a tenor of 99 years, signaling the federal government’s intent to use the fund for multi-decade real estate and infrastructure development, allowing it to grow, recycle, and reinvest capital over nearly a century.

Investors will find the security on the NGX using MOFI Real Estate Investment Fund as the symbol name, MOFIREIF as its trading symbol and NGMOFIREIF00 as its ISIN code.