Buy Your Dream Home: MREIF Introduces Lower Interest Rates for Nigerians

LAGOS, NIGERIA — The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), a key driver of affordable homeownership in Nigeria has announced a major reduction in its mortgage requirements. The interest rate has now been reduced from a fixed rate of 12% per annum to 9.75% per annum.

The revised terms for the fund scheme, managed by ARM Investment Managers, is designed to address the financial constraints faced by many aspiring homeowners. By significantly lowering the entry barrier, MREIF and its group of financial partners are fostering a more inclusive and accessible housing market.

Commenting on the development, Mr. Wale Odutola, the Group CEO of ARM, stated, “Our role as fund managers is to ensure MREIF operates as a credible vehicle for lasting impact. The reduction in the down payment, alongside the competitive interest rate, is a strategic move to empower more Nigerians. This is a testament to the power of a public-private partnership that is genuinely focused on delivering tangible solutions and contributing meaningfully to Nigeria’s economic progress.”

The new terms are expected to accelerate the transition from renting to owning, providing financial stability and long-term security for countless Nigerian families.

It is important to note that the downpayment for the selected property can also be funded from the pension accounts (RSA) of willing beneficiaries, further reducing all barriers to participation in the scheme.

To learn more about this groundbreaking scheme, visit: https://www.arm.com.ng/mreif-about-mreif/

MREIF Cuts Down Payment to 10% and Lowers Mortgage Rates for Nigerians

MREIF-Cuts-Down-Payment-to-10%

LAGOS, NIGERIA — The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) has unveiled new mortgage terms designed to make homeownership more attainable for millions of Nigerians. In a landmark move, the minimum down payment has been reduced from 20% to just 10%, while the fixed mortgage interest rate has been lowered from 12% per annum to 9.75% per annum.

This policy shift, part of the Federal Government’s Renewed Hope agenda, tackles one of the biggest barriers to homeownership — the high initial equity contribution. With this change, more Nigerians can move from renting to owning their own homes.

The revised terms apply to MREIF’s long-term mortgages with repayment periods of up to 20 years, combining lower upfront costs, reduced interest rates, and extended tenure to ease the financial burden on households.

Dr. Armstrong Takang, CEO of MOFI, stated:
“These new terms reflect our mission to build a sustainable and inclusive housing market. By reducing the down payment and maintaining a low interest rate, we are removing major barriers to homeownership and creating a pathway to a brighter, more secure future for families across Nigeria.”

Wale Odutola, Group CEO of ARM, fund managers for MREIF, added:
“Our role as fund managers is to ensure MREIF operates as a credible vehicle for lasting impact. The reduction in the down payment, alongside the competitive interest rate, is a strategic move to empower more Nigerians. This is a testament to the power of a public-private partnership that is genuinely focused on delivering tangible solutions and contributing meaningfully to Nigeria’s economic progress.”

Beneficiaries can also use funds from their Retirement Savings Account (RSA) to cover the down payment, further reducing entry barriers.

Learn more at: https://www.arm.com.ng/mreif-about-mreif/