Edun Assures Investors of Balanced Tax Policy as NGX Lists MOFI Real Estate Fund

The Nigerian Exchange (NGX) on Wednesday hosted the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to commemorate the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2.

The event, marked by the symbolic Closing Gong Ceremony, showcased government’s commitment to harnessing capital market instruments to address Nigeria’s housing deficit and stimulate inclusive economic growth.

The listing comes amid cautious trading on the exchange, as investors react to global geopolitical tensions, the proposed Capital Gains Tax (CGT), and year-end portfolio adjustments. Market analysts have urged fiscal authorities to maintain a balance between revenue generation and investor confidence to sustain long-term market participation.

Speaking at the event, Mr. Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, underscored the need for fiscal alignment to sustain growth. “The capital market is not only a vehicle for mobilising investment but also for creating wealth for Nigerians. Policies such as the Capital Gains Tax must be structured to balance government’s fiscal goals with investor confidence. NGX remains committed to supporting the Renewed Hope Agenda by channelling private capital into productive ventures.”

Responding, Mr. Wale Edun reassured investors of continued engagement on the proposed tax. “We are mindful of the concerns raised about the Capital Gains Tax and are in active consultation with stakeholders to ensure that any decisions taken will deliver optimal outcomes for the economy and investors. At ₦100 per unit, MREIF empowers ordinary Nigerians to participate in wealth creation while expanding access to housing finance,” he said.

He added that the collaboration between the Ministry of Finance Incorporated, the capital market, and private sector players represents a practical step toward leveraging financial innovation to bridge Nigeria’s housing gap.

NGX Chairman, Mr. Ahonsi Unuigbe, described the MREIF listing as “a defining milestone in Nigeria’s journey to building an inclusive, resilient economy that delivers shared prosperity.”

Similarly, NGX CEO, Mr. Jude Chiemeka, said the fund highlights how the capital market can deliver real-world solutions. “By directing private capital into the housing sector, MREIF promotes long-term investment and wealth creation while addressing one of Nigeria’s most pressing social challenges,” he said.

MOFI Managing Director, Dr. Armstrong Ume Takang, noted that the fund provides affordable, long-term mortgage financing designed to make homeownership accessible to millions of Nigerians. “With over 1,000 mortgages already disbursed, this initiative is stimulating local economies and driving growth across the housing value chain,” he added.

The event reaffirmed the government’s focus on mobilising domestic savings, expanding market participation, and ensuring that fiscal policies support investment-driven growth.