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The Nigerian Exchange (NGX) on Tuesday hosted the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, at the Closing Gong Ceremony to commemorate the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2. The listing reaffirmed the capital market’s critical role in national development and in mobilising capital to bridge Nigeria’s housing deficit.

The event came amid cautious investor sentiment as the equities market navigates multiple headwinds — from the proposed implementation of the Capital Gains Tax (CGT) and the ongoing US–Nigeria diplomatic rift to year-end portfolio adjustments and profit-taking by institutional investors. While market liquidity remains strong, analysts say sustaining investor confidence will depend on how the government balances fiscal ambitions with market stability.

Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, said the capital market remains a key driver of inclusive growth and wealth creation. 

He urged the government to implement the Capital Gains Tax in a manner that preserves investor confidence.

“The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians,” Popoola said. “Policies such as the Capital Gains Tax must balance government revenue objectives with investor confidence and market growth. NGX remains committed to supporting the Renewed Hope Agenda by mobilising private capital for sustainable impact.”

Responding, Edun reassured investors that the government had taken note of concerns surrounding the Capital Gains Tax and would maintain open engagement with market stakeholders to ensure fair and growth-oriented outcomes.

 “We have noted the concerns around the Capital Gains Tax and will continue to engage with the capital market to ensure decisions deliver optimal outcomes for both Nigerians and the market,” he said. “At N100 per unit, MREIF allows ordinary Nigerians to participate in savings and investment, leveraging local resources to grow our economy, especially in the housing sector.”

The minister emphasised that the government’s economic strategy focuses on creating accessible investment opportunities that empower citizens while supporting key sectors like housing, which has a direct multiplier effect on job creation and infrastructure growth.

Ahonsi Unuigbe, Chairman of NGX, described the listing as “a defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians.”

In the same vein, Jude Chiemeka, CEO of NGX, highlighted MREIF’s potential to deliver practical solutions to Nigeria’s housing challenges.

“By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing the country’s housing deficit,” he said.

Dr. Armstrong Ume Takang, Managing Director/CEO of MOFI, said MREIF represents a major innovation in public-private collaboration, offering long-term, low-cost mortgage financing that can make homeownership a reality for millions.

 “MREIF provides sustainable financing to stimulate local economies across the housing value chain,” he noted.

With over 1,000 mortgages already disbursed, MREIF has emerged as a model for inclusive economic growth — illustrating how institutional capital can power both financial stability and social progress. The fund’s listing further cements NGX’s position as a hub for capital formation and a partner in achieving the government’s development objectives.