By Stanley Onyeka, Lagos
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, yesterday, Wale Edun, assured stakeholders that the Federal Government has noted the concerns around Capital Gains Tax and remains committed to ongoing consultation with the market.
Mr Edun gave the assurance at the Closing Gong Ceremony to commemorate the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2, hosted by the Nigerian Exchange (NGX).
He was quoted as saying: “We have noted the concerns around Capital Gains Tax and will continue to engage with the capital market to ensure any decisions deliver optimal outcomes for both Nigerians and the market.
“At ₦100 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 Closing Gong Ceremony was said to have positioned MREIF as a model for inclusive economic growth, illustrating how institutional capital can drive both financial stability and social impact.
With over 1,000 mortgages already disbursed, the initiative continues to expand middle-class wealth and deepen Nigeria’s capital market.
Meanwhile, the Exchange in a statement, said the listing of the Fund underscored the capital market’s pivotal role in national development, particularly in addressing Nigeria’s housing deficit.
The listing took place against the backdrop of cautious trading in the equities market, as investors recalibrate portfolios in response to geopolitical tensions arising from the US–Nigeria diplomatic standoff, the proposed Capital Gains Tax (CGT), year-end portfolio rebalancing, and expectations of window-dressing by institutional players.
While liquidity remains robust, analysts emphasize that aligning fiscal policy with investor expectations is critical to sustaining confidence and deepening long-term market participation.
MREIF is positioned as a model for inclusive economic growth, illustrating how institutional capital can drive both financial stability and social impact.
Catalyst for growth
Commenting, Group Managing Director/Chief Executive Officer, NGX Group, Temi Popoola, reaffirmed the capital market’s role as a catalyst for inclusive growth and called on the Federal Government to ensure balanced outcomes in the implementation of the Capital Gains Tax.
He said: “The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians. Policies such as the capital gains tax must be carefully designed to balance government revenue objectives with investor confidence and market growth.
“NGX Group remains committed to supporting the Renewed Hope Agenda by channeling private capital into initiatives that deliver sustainable, long-term impact.”
The ceremony also highlighted the strength of collaboration between the Federal Government, MOFI, and the private sector in mobilising innovative financing for housing.
On his part, Chairman, NGX, Ahonsi Unuigbe, described the listing as a “defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians.”
In his remarks, CEO, NGX, Jude Chiemeka, said the MREIF demonstrates how the capital market can deliver practical solutions to national challenges:
““By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing Nigeria’s housing deficit.”
Similarly, Managing Director/CEO, MOFI, Dr. Armstrong Takang, added: “MREIF provides long-term, low-cost mortgage financing to make homeownership a reality for millions of Nigerians, stimulating local economies across the housing value chain.”
