The Federal Government has called for the expansion of the MOFI Real Estate Investment Fund to make affordable housing more accessible to Nigerians as part of efforts to address the country’s housing deficit.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the call while receiving a delegation from the fund following a presentation on the programme’s progress and impact.
In a statement shared on the ministry’s official X handle on Wednesday, Edun described the initiative as a strong example of how innovation and collaboration can help tackle major national challenges, particularly in the housing sector.
He noted that the Federal Government is focused on scaling the fund to reach more Nigerians, especially low- and middle-income earners who face difficulties accessing affordable housing.
The MOFI Real Estate Investment Fund was designed to provide long-term, low-cost mortgage financing at rates below double digits. Experts say the initiative represents a significant shift in Nigeria’s housing finance system.
According to government officials, the programme is expected to unlock more funding for home ownership while strengthening the country’s mortgage market.
The initiative also aligns with the economic policy direction of President Bola Ahmed Tinubu, which focuses on implementing practical, people-centred reforms aimed at improving economic inclusion.
Officials explained that the fund is intended to leverage the financial system to support inclusive growth while expanding opportunities for Nigerians to own homes.
Nigeria currently faces a significant housing shortage, with millions of citizens unable to afford homes due to high construction costs, limited mortgage financing, and rising urbanisation.
The Federal Government believes expanding the fund will help bridge this gap by providing more accessible and affordable financing options for prospective homeowners.
