N100bn MOFI real estate fund is testament to President Tinubu’s commitment to affordable housing
The Tinubu Stakeholders Forum (TSF) has hailed the successful raising of N100 billion by the MOFI Real Estate Investment Fund (MREIF) through its fully subscribed Series 2 issuance.
In a statement signed by its Chairman Ahmad Sajoh and Secretary Afolabi Josiah, it described the milestone, achieved through private sector participation, as a significant step which underscores the pragmatic economic policies of President Bola Ahmed Tinubu’s administration.
The statement read in part, “This achievement is part of MREIF’s broader N250 billion pilot fundraising initiative, aimed at facilitating accessible housing finance solutions for Nigerians.
“For us, the strong institutional investor confidence in the issuance, as reflected by its Aaa rating from Agusto & Co. and an AA rating from Global Credit Rating (GCR), reaffirms the credibility and effectiveness of the fund’s structure.
“The Tinubu administration’s approach to housing development goes beyond merely constructing houses; it prioritizes creating a sustainable financial ecosystem that allows Nigerians to acquire homes at affordable credit rates.
“By leveraging private sector investments, the federal government is strategically optimizing resources while ensuring that public funds previously earmarked for social housing can now be redirected towards other critical capital projects that drive national growth and development.
“We acknowledge that this initiative aligns with President Tinubu’s broader economic agenda of fostering an enabling environment for investment, financial inclusion, and infrastructural development.
“We remain confident in the President’s strategic policies and reaffirm our unwavering support for his administration’s vision of economic transformation and national prosperity.
“The TSF recognizes this development as a clear indication of the administration’s commitment to improving the living standards of Nigerians through innovative financial mechanisms that support homeownership.”
The group also urged continued collaboration between the government, private sector, and financial institutions to sustain this momentum, ensuring that more Nigerians can benefit from affordable housing opportunities.
end
