The Federal Government is considering expanding the Mortgage Refinancing and Equity Investment Fund (MREIF) following what officials describe as a strong early showing.
A source at the Ministry of Finance said discussions with stakeholders revealed that the fund has delivered measurable impact and could reach more Nigerians if scaled up.
“It has to continue for its broader impact,” the source said.
So far, the fund has generated over N25 billion in returns from the N250 billion raised, with profits already distributed to investors. Data also shows that more than N105 billion has been disbursed to 1,501 beneficiaries since the second quarter of 2025, while over 2,000 applications are still being processed.
Interest in the scheme continues to grow. More than 60,000 prospective subscribers have registered interest, while over 2,000 developers have signed up on the fund’s digital platform.
To improve affordability, the government has reduced mortgage interest rates from 12 per cent to 9.75 per cent and lowered the minimum equity contribution from 20 per cent to 10 per cent.
Officials say these adjustments are designed to ease access to mortgage financing and bring more Nigerians into the housing market.
Analysts note that the proposed expansion reflects a broader government effort to strengthen social investment programmes while supporting economic growth through sectors with high impact, such as housing.
