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AIHS and MOFI Partner to Promote Low-rate Mortgages for Affordable Housing

Real Estate

Business Honor
25 March, 2025

AIHS and MOFI partner to offer affordable mortgages, addressing Nigeria’s housing finance challenges with MREIF.

Africa International Housing Show (AIHS) and the Ministry of Finance Integrated (MOFI) Real Estate Investment Fund (MREIF) have partnered strategically in the ministry's efforts to promote low-rate mortgages for affordable housing.

With a 20-year repayment period and a 12-percent interest rate, MREIF is an affordable mortgage program. The fund targets both home purchasers and developers since it seeks to address housing finance issues on both the supply and demand sides. Festus Adebayo founded the Housing Development Advocacy Network (HDAN), which is a leading voice for affordable housing that hosts the annual AIHS housing conference and exhibition. Through the agreement, MOFI will have the chance to present a one-day MREIF stakeholders' engagement and education session during the 19th AIHS, which is set for July 27–August 1, 2025.

It is expected that MOFI will highlight its housing intervention programs by bringing together seasoned speakers and industry experts. The session is expected to support the work of other important players in Nigeria's housing finance ecosystem, including the Federal Housing Authority (FHA), the Federal Mortgage Bank of Nigeria (FMBN), the Family Homes Funds Limited (FHFL), and the Nigeria Mortgage Refinance Company (NMRC). Adebayo noted that MOFI aims to raise N1 trillion to fund reasonably priced housing development in Nigeria. The first phase, which raised N250 billion, has been fully subscribed, reflecting strong investor confidence in the initiative.

In order to improve Nigeria's housing shortage and increase the number of low- and middle-income earners who can become homeowners, he stated that the fund is expected to offer substantial financial support for affordable housing projects. The teamwork with MOFI highlights a shared guarantee to tackle Nigeria's housing issues and promote economic growth through sustainable real estate development since AIHS is Africa's biggest and most significant housing and construction event.