FG Launches Real Estate Investment Fund – The Federal Government has launched the Ministry of Finance Incorporated Real Estate Investment Fund, aimed at addressing Nigeria’s housing deficit by partnering with the pension and financial sectors to provide affordable housing. The initiative is a key part of the One Million Homes Presidential Initiative, designed to offer low-cost mortgage financing options to eligible Nigerians.
According to a statement from the Federal Ministry of Finance, the MREIF will revolutionise the housing sector by giving more Nigerians access to affordable homes. The initiative aligns with the government’s broader vision of making homeownership more accessible, especially for pension account holders. It was revealed that a high-level meeting was held to discuss the launch of the MREIF.
At the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, emphasised the transformative potential of the fund. He noted that the MREIF would provide cost-effective mortgage solutions, particularly benefiting pension account holders, and would serve as a critical component in addressing the country’s housing challenges.
“The launch of this fund represents a major stride in delivering affordable homes to Nigerians. With the support of the pension and financial sectors, we are confident that this initiative will transform the housing landscape and create significant opportunities for homeowners,” Edun said. The MREIF will operate under a market-driven framework to ensure compliance with regulatory standards while promoting broad accessibility to homeownership.
The CEO of the Ministry of Finance Incorporated, Dr Armstrong Takang, highlighted the importance of transparency and market efficiency in managing the fund.
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