Key Takeaways
- • MOFI Real Estate Investment Fund reported N7.34 billion in profit after tax for Q1 2026, with total income reaching N9.26 billion, primarily driven by interest income from financial assets and mortgage loans.
- • The fund expanded its Eligible Financial Institution network to 20 participants (9 commercial banks and 11 mortgage banks), enabling N32.79 billion in mortgage disbursements across 412 applications during the quarter alone.
- • Total disbursements since inception have reached N104.66 billion covering 1,494 mortgages across 24 states and the Federal Capital Territory, demonstrating significant scale in addressing Nigeria's housing deficit.
- • Off-take guarantee transactions stand at N9 billion, providing credit enhancement to qualified developers for residential projects targeting 475 housing units in Lagos and Abuja.
- • South-West Nigeria remains the fund's primary geographic hub, accounting for N82.06 billion of total mortgage value, reflecting concentrated market opportunity in the region.
Summary
The MOFI Real Estate Investment Fund delivered robust first-quarter 2026 results, posting a profit after tax of N7.34 billion according to a regulatory filing submitted to the Nigerian Exchange. The strong performance underscores the fund's expanding influence in Nigeria's mortgage and housing finance market, which faces substantial structural demand from the nation's housing deficit.
Total income for the quarter ended 31 March 2026 reached N9.26 billion, with gains primarily attributable to interest income derived from financial assets and mortgage loan portfolios. The fund's strategic positioning—mobilizing concessionary capital from public sector sources alongside commercial funding from private sector participants—continues to generate measurable returns while addressing broader development objectives in residential real estate.
A significant operational milestone was the onboarding of two additional Eligible Financial Institutions, expanding the fund's network to 20 participating institutions comprising nine commercial banks and 11 mortgage banks. This network expansion facilitated substantial deployment of capital during the quarter, with N32.79 billion disbursed across 412 mortgage applications. Cumulatively, the fund has now disbursed N104.66 billion since inception, supporting 1,494 mortgages distributed across 24 states and the Federal Capital Territory.
The fund continues leveraging off-take guarantee mechanisms to support residential development. Current off-take guarantee transactions total N9 billion and provide credit enhancement to qualified developers, enabling them to access construction finance. These guarantees are earmarked for delivery of 475 housing units across Lagos and Abuja. Geographic analysis reveals that the South-West region remains the fund's most active market, accounting for N82.06 billion of total mortgage value, indicating concentrated market concentration in Lagos and surrounding areas.
Total income for the quarter ended 31 March 2026 reached N9.26 billion, with gains primarily attributable to interest income derived from financial assets and mortgage loan portfolios. The fund's strategic positioning—mobilizing concessionary capital from public sector sources alongside commercial funding from private sector participants—continues to generate measurable returns while addressing broader development objectives in residential real estate.
A significant operational milestone was the onboarding of two additional Eligible Financial Institutions, expanding the fund's network to 20 participating institutions comprising nine commercial banks and 11 mortgage banks. This network expansion facilitated substantial deployment of capital during the quarter, with N32.79 billion disbursed across 412 mortgage applications. Cumulatively, the fund has now disbursed N104.66 billion since inception, supporting 1,494 mortgages distributed across 24 states and the Federal Capital Territory.
The fund continues leveraging off-take guarantee mechanisms to support residential development. Current off-take guarantee transactions total N9 billion and provide credit enhancement to qualified developers, enabling them to access construction finance. These guarantees are earmarked for delivery of 475 housing units across Lagos and Abuja. Geographic analysis reveals that the South-West region remains the fund's most active market, accounting for N82.06 billion of total mortgage value, indicating concentrated market concentration in Lagos and surrounding areas.
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