In a major step toward unlocking funds from public real estate assets in Nigeria’s capital market and bridging the current housing deficit in the country, the Federal Government on Tuesday listed the N1 trillion Managed Real Estate Investment Fund (MREIF) Series 2, which is being managed by the Ministry of Finance Incorporated (MOFI) on the Nigerian Exchange Limited (NGX).
The MREIF is designed to transform Nigeria’s portfolio of public real estate assets into a transparent, market-driven investment platform.
The listing of the fund was commemorated with a Closing Gong Ceremony at the Exchange by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who described it as a reliable vehicle for driving housing development, financial inclusion, and sustainable growth of the economy.
He pointed out that by pooling these assets into a fund listed on the local bourse the Federal Government intended to create new avenues for citizens and institutions to invest in the real estate sector while promoting asset monetisation and private sector participation.
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According to the minister, the listing aligns with President Bola Tinubu’s reform agenda to grow Nigeria’s Gross Domestic Product (GDP) to $1 trillion by broadening investment opportunities and strengthening domestic capital formation, across the broad sectors of the economy.
He said: “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, who expressed optimism that the initiative would help bridge the yawning gap between Nigeria’s eight million pension fund accounts and less than one million stockbroking accounts, urged Nigerians to be participating in the capital market to mobilize domestic savings for national development.
Edun further clarified: “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.
“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”, the minister added.
