Nigeria’s ₦1 Trillion Real Estate Fund Expands With Series 2 NGX Listing

By Mo. Akeke

The Federal Government of Nigeria launched the MOFI Real Estate Investment Fund (MREIF) in January 2025 as a bold step to tackle the country’s massive housing deficit. Designed as a ₦1 trillion real estate investment vehicle, MREIF aims to provide long-term, affordable financing for housing projects while allowing Nigerians, both retail and institutional investors, to invest in the real estate market.

The fund’s goal is simple: make homeownership more accessible, stimulate the construction sector, and inject transparency and structure into Nigeria’s housing finance system. Through public-private collaboration, MREIF seeks to create a sustainable pipeline for developers and provide mortgage solutions that middle-income earners can afford.

Photo by Tierra Mallorca on Unsplash

In November 2025, the Series 2 tranche of MREIF was officially listed on the Nigerian Exchange (NGX). Valued at ₦100 billion, this commercial tranche is now open to both retail and institutional investors, expanding participation in the fund and making affordable real estate investment more accessible to Nigerians

The listing also signals progress for the program: mortgages have started flowing, and hundreds of Nigerians are already benefiting. The fund continues to expand its footprint, promising to support housing projects, stimulate the property market, and provide a transparent, regulated channel for real estate investment.

Why Lagos Real Estate Should Pay Attention

  • Affordable Financing: MREIF-backed mortgages offer lower interest rates, creating new opportunities for middle-income buyers in Lagos.

  • Developer Opportunities: Developers could see increased demand for housing, particularly projects targeted at the emerging middle class.

  • Investment Access: Retail and institutional investors can now participate in a regulated real estate fund, providing capital for housing projects while earning potential returns.

  • Market Transformation: MREIF is signaling a shift in Nigeria’s housing market, one that emphasizes structure, transparency, and long-term growth.

What to Watch

  • Uptake of MREIF mortgages in Lagos and other urban centers.

  • New housing developments financed by the fund.

  • Interest rates, investor participation, and expansion into other states.

  • The overall effect on Lagos property prices and the rental market.

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