Tinubu: MREIF Unlocks Homeownership with ₦128bn for 1,859 Families

President Bola Tinubu has hailed the impact of the Ministry of Finance Real Estate Investment Fund (MREIF), saying the initiative has facilitated homeownership for 1,859 Nigerian families through investments worth ₦128 billion.

Speaking during a review of the programme’s progress, Tinubu described MREIF as a critical intervention aimed at addressing Nigeria’s housing deficit while expanding access to affordable mortgage financing for citizens.

According to the President, the fund has emerged as a transformative vehicle for housing development, enabling thousands of Nigerians to own homes through long-term financing arrangements. He noted that the initiative aligns with his administration’s broader commitment to improving living standards and stimulating economic growth through strategic investments in infrastructure and housing.

Officials overseeing the programme disclosed that the ₦128 billion investment has supported the construction and acquisition of housing units across several states, creating jobs and boosting activities within the real estate sector. The fund is also expected to attract additional private-sector participation to deepen housing finance and accelerate urban development.

Tinubu emphasized that affordable housing remains a cornerstone of his administration’s Renewed Hope Agenda, stressing that access to decent shelter is essential for national development. He said government agencies would continue to collaborate with financial institutions and developers to expand the reach of the programme.

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Stakeholders in the housing sector welcomed the development, describing the fund as a significant step toward bridging the country’s housing gap. They noted that many Nigerians have traditionally struggled to access mortgages due to high interest rates and stringent lending requirements.

Analysts said the MREIF initiative could serve as a model for sustainable housing finance by leveraging public and private capital to support long-term homeownership opportunities. They added that the programme’s success would depend on continued transparency, effective management, and expansion to underserved communities.

The federal government expressed optimism that more families would benefit from the scheme in the coming months as additional projects come on stream. Authorities also reaffirmed plans to strengthen policies that encourage affordable housing development and improve access to mortgage financing nationwide.

The latest figures underscore growing efforts by the administration to tackle housing challenges while promoting economic inclusion through property ownership, a key driver of wealth creation and financial stability.