Edun Eases Market Concerns, Assures Fair Capital Gains Tax as NGX Lists N100bn MREIF to Bridge Housing Gap
In honor of the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2, the Nigerian Exchange (NGX) invited Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, on Tuesday at the Closing Gong Ceremony. The listing emphasized the vital role that the capital market plays in both national growth and financial mobilization to address Nigeria’s housing shortage.
The event took place amid cautious investor sentiment as the stock market navigates a number of challenges, including year-end portfolio adjustments and profit-taking by institutional investors, the proposed adoption of the Capital Gains Tax (CGT), and the ongoing diplomatic impasse between the US and Nigeria. Analysts say that maintaining investor confidence will depend on how the government strikes a balance between budgetary aspirations and market stability, even though market liquidity is still strong.
The capital market continues to be a major force for equitable growth and wealth creation, according to Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group.
In order to maintain investor confidence, he encouraged the government to enact the capital gains tax.
According to Popoola, “the capital market is a tool for creating wealth for Nigerians as well as a platform for attracting investment.” “Government revenue goals must be balanced with investor confidence and market expansion through policies like the Capital Gains Tax.” NGX is still dedicated to promoting the Renewed Hope Agenda by raising private funds for long-term effects.
In response, Edun informed investors that the government was aware of their worries about the Capital Gains Tax and will continue to interact openly with market participants to guarantee equitable and growth-oriented results.
He stated, “We have taken note of the concerns surrounding 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.” “At N100 per unit, MREIF enables regular Nigerians to engage in investment and savings, utilizing local resources to expand our economy, particularly in the housing sector.”
The minister emphasized that the government’s economic strategy is centered on developing accessible investment possibilities that empower individuals and support important industries like housing, which directly multiplies the growth of infrastructure and the creation of jobs.
The listing is “a defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians,” according to NGX Chairman Ahonsi Unuigbe.
Similarly, NGX CEO Jude Chiemeka emphasized MREIF’s capacity to provide workable answers to Nigeria’s housing problems.
“We are addressing the nation’s housing deficit while creating opportunities for long-term investment and wealth creation by channeling private capital into housing,” he stated.
Armstrong, Dr. According to Ume Takang, Managing Director/CEO of MOFI, MREIF is a significant advancement in public-private cooperation, providing affordable, long-term mortgage financing that can enable millions of people to become homeowners.
He stated, “MREIF offers sustainable financing to boost local economies throughout the housing value chain.”
MREIF, which has now distributed more than 1,000 mortgages, has become a model for inclusive economic growth, demonstrating how institutional capital can drive both social advancement and financial stability. The fund’s listing strengthens NGX’s standing as a center for capital generation and a collaborator in accomplishing the government’s development goals.
