Wale Edun Closes NGX Bell, Boosts MREIF Mortgage Fund for Mi....

….Ceremony underscores the successful public-private partnership between the Federal Government, MOFI and ARM in transforming Nigeria’s housing sector.

MREIF (MOFI Real Estate Investment Fund), Nigeria’s transformative government-backed housing finance fund, was honoured by the presence of the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, as he rang the Closing Gong at the Nigerian Exchange (NGX) on Tuesday, the 11th of November 2025. The event publicly celebrated MREIF’s significant milestones in driving Nigeria’s housing finance reforms and its strategic success in rebuilding Nigeria’s middle class through accessible homeownership.

The ceremony underscored the powerful public-private partnership (PPP) between the Federal Government, the Ministry of Finance Incorporated (MOFI), and Asset & Resource Management Holding Company (ARM) Limited. Leveraging ARM’s three decades of expertise in fund management and infrastructure finance, the partnership was structured to ensure both financial rigour and social impact.

Commenting on the significance of the milestone and the vision of the fund, Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, stated: “Today’s ceremony marks the official listing of MREIF Series 2 — a milestone in our capital market’s contribution to solving one of Nigeria’s critical challenges: affordable housing. MREIF provides a transparent, structured, and sustainable platform to mobilise private capital for real estate and expand home ownership. It also deepens Nigeria’s financial system, diversifies investment options, and promotes sustainable growth. I invite investors, developers, and Nigerians everywhere to seize this opportunity. Together, we are advancing a future where affordable housing becomes a right, not a privilege.”

Temi Popoola, GMD/CEO, NGX Group, added, “At NGX Group, we continue to demonstrate the strength and resilience of Nigeria’s capital market, where policy ambition meets investor opportunity. The listing of MREIF reflects how the market can channel private capital into national priorities like housing, infrastructure, and inclusive growth, creating tangible value for Nigerians and deepening financial inclusion across sectors.”

The event signified more than just a celebration of MREIF’s achievements; it marked the NGX’s recognition of a critical, symbiotic relationship. MREIF represents a large-scale market intervention designed to provide a scalable solution to Nigeria’s housing deficit. The special collaboration between the Ministry of Finance, Ministry of Finance Incorporated and ARM Limited has built a novel framework to solving infrastructure problems across the African continent. In doing so, it empowers a new generation of Nigerians to build personal wealth and financial security through the tangible asset of homeownership. Crucially, this resurgence of a property-owning middle class creates a new and sustainable class of domestic capital, which forms the bedrock of a healthy capital market and fuels deeper, more inclusive economic growth.

Representing Dr. Shamsuddeen Usman, Chairman of the MOFI Board, Mr. Ike Chioke, a member of the MOFI board added: “The MRIEF is a catalyst for progress and inclusion. Through MOFI’s sponsorship, we are OFI’s sponsorship, mobilising private and institutional capital to address the housing and infrastructure needs of millions of Nigerians, while supporting the Federal Government’s mission of a dynamic and resilient economy that works for all.”

Reflecting on the national significance of MREIF, Ahonsi Unuigbe, Chairman, NGX, said:

“The listing of MREIF is not only a milestone for the capital market but also a defining step towards transforming Nigeria into one of the largest and most significant economies in the world, ensuring shared prosperity for all Nigerians.”

Dr. Armstrong Ume Takang, MD/CEO of MOFI, highlighted MOFI’s role as the Federal Government’s Investment vehicle and sponsor of the MRIEF. “This listing underscores MOFI’s mission to deploy capital strategically and for national transformation,” Dr. Takang said. “The MRIEF is designed to provide long-term, low-cost mortgage financing making homeownership a reality for millions while stimulating local economies across the housing value chain.”

Commenting on the event, Wale Odutola, Group CEO, ARM Holding Company, stated: “Ringing the gong is an affirmation of our core thesis; that investing in housing is a direct investment in the foundations of the capital market. By creating new homeowners, we are working to create the next generation of investors. This is the new architecture for Nigeria’s financial future.”

Jude Chiemeka, CEO, NGX, noted: “The listing of MREIF demonstrates the Nigerian capital market’s ability to deliver real solutions to societal challenges. By channeling private capital into housing, we are not only addressing the nation’s housing deficit but also creating new opportunities for long-term investment and wealth creation for Nigerians.”

NGX acknowledged that MREIF’s presence signals strong market confidence and investor credibility. The fund provides sustainable, long-term capital that aids liquidity and growth in the Nigerian mortgage sector.

The Closing Gong Ceremony successfully framed MREIF as Nigeria’s blueprint for sustainable economic development, demonstrating how a secure, institutional approach can drive both financial market stability and broad social impact. With the achievement of over 1,000 mortgages disbursed, MREIF reinforces its commitment to transforming the nation’s housing deficit into a new era of middle-class prosperity and capital market depth.