MREIF Disburses Over N140 Billion in Mortgages

The MOFI Real Estate Investment Fund (MREIF) has disbursed over N140 billion in mortgage financing to more than 2,000 Nigerians since it began operations in April 2025. This initiative, backed by the Federal Government, aims to tackle Nigeria's housing deficit by offering affordable, long-term mortgage financing.

Olubiyi Adekunbi, Head of Real Estate Investment at ARM Investment Managers, announced these figures during a webinar hosted by FirstBank on August 30, 2026. The MREIF, a N1 trillion housing finance initiative established by the Ministry of Finance Incorporated (MOFI), recorded its fastest mortgage transaction in under three weeks.

The scheme is available to Nigerians in the diaspora and has disbursed mortgages across 27 states. Sani Yakubu, MREIF National Coordinator at MOFI, stated that Nigeria needs to build at least 700,000 housing units annually to close the housing gap.

The Federal Government contributed N150 billion to the fund's first tranche, with private investors providing N100 billion.