The Federal Government, on Monday, opened direct retail-investor access to its ₦1 Trillion housing scheme, saying the move will help more Nigerians buy homes and deepen the mortgage market.
The programme, known as the Ministry of Finance Real Estate Investment Fund (MREIF), will list units on the Nigerian Exchange so ordinary investors can buy and sell shares in the fund alongside institutional players. Officials say the listing will channel long-term private money into housebuilding and make mortgages cheaper and longer-term for buyers.
MREIF has already raised seed capital through earlier tranches, and organisers say the fund seeks to reach ₦1 Trillion by combining public and private investment. The initial rounds were sponsored by the ministry and attracted pension funds and asset managers, organisers added.
Under the scheme, mortgages will be offered through approved banks and mortgage firms with repayment periods of up to 20–25 years. There will also be targeted interest rates far below typical commercial loans — officials have mentioned ceilings around 11–12% and plans to push rates into single digits where possible. The fund will also allow civil servants and eligible Nigerians to access loans with modest equity contributions.
