The Federal Government has unveiled the N250 billion Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) to expand housing opportunities for Nigerians. Announced by the Ministry of Finance, the initiative aims to address the housing finance gap while driving economic growth in the housing and construction sectors.
At the signing ceremony, Minister of Finance Mr. Wale Edun highlighted the transformative potential of the initiative. Unlike the high-interest, short-tenor loans offered by commercial banks, the MREIF will provide low-cost, long-term mortgage financing with repayment terms of up to 25 years.
This approach seeks to make homeownership more accessible and sustainable, enabling Nigerians to build generational wealth through affordable housing solutions. The initiative underscores the government’s commitment to closing the housing deficit while fostering economic development.
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