Finance Minister assures stakeholders of fair, growth-driven tax adjustments as MOFI lists ₦1tn Real Estate Fund on NGX
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured investors that the Federal Government will revisit the Capital Gains Tax (CGT) provisions in its ongoing tax reform framework to ensure a balanced and investor-friendly outcome.
Edun made the disclosure on Tuesday during the official listing of the MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange (NGX) in Lagos, describing the move as a crucial milestone in President Bola Tinubu’s Renewed Hope Agenda.
“Considering the call for the reconsideration of the Capital Gains Tax as stated in the new tax reform, we will meet again to come out with appropriate measures that will be good for investors and for Nigeria before implementation,” Edun said.
The Minister noted that while government revenue generation remains critical, fiscal policies must also support private sector participation and attract long-term investment into key sectors such as housing, infrastructure, and manufacturing.
MREIF: Mobilising Capital for Affordable Housing
Edun commended the listing of MREIF as a bold demonstration of how public-private partnerships (PPPs) can unlock capital for affordable housing, job creation, and economic growth.
According to him, the Fund rated AAA by Agusto & Co and AA by GCR has already recorded over 1,000 mortgages since disbursements began in May 2025, a sign of its potential to scale nationwide.
“The MREIF is a clear example of the Renewed Hope Agenda in action, using market-driven instruments to deliver social impact and empower Nigerians,” Edun added.
Capital Market Leaders Hail Landmark Listing
Chairman of the MOFI Board, Shamsuddeen Usman, described the ₦1 trillion listing as “a major leap in deepening Nigeria’s capital markets and unlocking real estate as a driver of inclusive growth.”
Similarly, Armstrong Ume Takang, Managing Director/CEO of MOFI, said the MREIF aligns with MOFI’s broader mission to deploy capital for national transformation.
“The Fund provides long-term, low-cost mortgage financing that makes homeownership a reality for millions while stimulating local economies,” Takang said.
He also commended the Securities and Exchange Commission (SEC) and the Nigerian Exchange Group (NGX) for their collaboration in structuring the Fund to global standards.
Chairman of NGX Limited, Ahonsi Unuigbe, hailed the listing of one trillion units at ₦100 per unit, describing it as a landmark step that will deepen market liquidity and enhance investor confidence.
A Catalyst for Economic Growth
Financial experts say the MREIF’s listing could signal a new era for real estate financing in Nigeria, creating a sustainable model for housing delivery while attracting domestic and foreign capital.
The Federal Government, through the Finance Ministry, is expected to conclude stakeholder consultations on Capital Gains Tax adjustments before year-end, ensuring that reforms support both fiscal stability and private-sector growth.
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