The MOFI Real Estate Investment Fund (MREIF) has been awarded an AA rating by Global Credit Ratings (GCR) for its ₦250 billion issuance, reaffirming the Fund’s credibility and strong financial standing within Nigeria’s housing sector.

MREIF, a ₦1 trillion public-private housing initiative, is backed by the Federal Government of Nigeria through the Ministry of Finance Incorporated (MOFI) and managed by ARM Investment Managers. The Fund aims to provide long-term, affordable mortgage financing for Nigerians while offering offtake guarantees as a credit enhancement for raising construction finance to real estate developers to drive large-scale housing projects.

GCR’s Rating Reflects Strong Market Confidence

The AA rating from GCR reflects MREIF’s solid financial structure, strong government backing, and market-driven approach to addressing Nigeria’s housing deficit. The ₦250 billion pilot issuance was structured in two tranches:

₦150 billion – Seed capital invested by the Federal Government through MOFI
₦100 billion – Fully subscribed by institutional and private sector investors

The full subscription of Series 2 underscores strong investor confidence in MREIF’s potential to drive transformative change in the housing sector.

Dr. Armstrong Takang, MD/CEO of MOFI, remarked, “The AA rating from GCR is a strong validation of MREIF’s credibility and potential. This milestone reinforces our commitment to mobilizing capital for housing and ensuring Nigerians have better access to homeownership.”

Wale Odutola, Deputy CEO of ARM Holding Co., added, “MREIF’s success so far demonstrates the power of public-private partnerships in solving Nigeria’s housing challenges. With this rating and full investor subscription, we are confident in expanding the Fund and increasing accessibility to affordable housing.”

Visit mreif.com.ng or email mreif@arm.com.ng for more details.