Mortgage banks in Nigeria have said that the Ministry of Finance Integrated (MOFI) Real Estate Investment Fund (MREIF) must accelerate the delivery of sustainable housing finance in Nigeria.
The banks, under the aegis of the Mortgage Banking Association of Nigeria (MBAN), made this observation in its reaction to the Fund’s half-year 2026 performance, which it tagged “strong profits, stronger purpose.”
The Fund reported a profit before tax of ₦14.49 billion, a profit after tax of ₦14.24 billion, declared interim dividends, and increased its Net Asset Value (NAV) per unit to ₦106.71. These achievements, according to MBAN, reflect effective financial management and merit recognition.
However, it noted that MREIF serves a broader purpose than investment returns, pointing out that the Fund was created to expand access to affordable mortgage finance, deepen Nigeria’s housing finance market, mobilise long-term capital, and increase homeownership.
MREIF is aimed at addressing Nigeria’s housing deficit. It provides affordable, long-term mortgage financing for low- and middle-income Nigerians, facilitating access to homeownership. It is structured as a public-private partnership, leveraging both public and private capital to achieve its goals and improve living standards nationwide.
