General
MOFI Unveils N100bn Series 2 Offering to Boost Real Estate Sector
By Adedapo Adesanya
The Ministry of Finance Incorporated (MOFI) launched a N100 billion Series 2 offering under the MOFI Real Estate Investment Fund (MREIF) as part of the federal government’s efforts to expand the housing sector with private sector support.
According to a statement, Monday’s launch of the N100 billion Series 2 offering raised subscriptions so far to N250 billion, a build-up from the successful N150 billion Series 1 subscription earlier launched in 2024.
MREIF is a major initiative to address Nigeria’s critical housing deficit by providing long-term, affordable financing for housing developments and homeownership.
The fund tallies with President Bola Tinubu’s Renewed Hope Agenda and seeks to bridge Nigeria’s estimated 20 million housing deficit through innovative and sustainable financial solutions.
Speaking at the official launch of the project in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, highlighted the imperative of private sector involvement in the housing sector.
Mr Edun stated, “The successful completion of Series 1 has demonstrated the government’s commitment to making homeownership more accessible. Now, with Series 2, we are opening the doors for private investors to join this transformative journey, creating jobs, enhancing infrastructure, and strengthening the economy.”
On his part, the Managing Director/CEO of MOFI, Mr Armstrong Takang, reaffirmed the fund’s long-term vision, emphasising, “Series 2 marks a critical step toward unlocking private capital at scale for Nigeria’s housing market.
“By leveraging blended finance, we are creating a sustainable framework for affordable homeownership that benefits all Nigerians.”
The Chairman of MOFI Board, Mr Shamsudeen Usman, applauded the initiative, describing it as “a landmark achievement in Nigeria’s housing sector”.
“The Renewed Hope Agenda is focused on delivering sustainable homeownership opportunities for Nigerians, and MREIF is a major driver of this vision,” he said.
While Series 1 was fully subscribed by MOFI as Sponsor and Anchor Investor, Series 2 is strategically positioned to attract private sector participation, mobilising N100 billion from institutional investors.
MOFI said that underscored its commitment to fostering a collaborative public-private partnership to scale up housing finance and drive inclusive economic growth.
MREIF’s ultimate goal is to raise N1 trillion to transform Nigeria’s housing sector, enabling millions of Nigerians to access affordable homeownership.
The fund prioritises affordable mortgage financing with repayment tenors of up to 25 years and interest rates targeted at 11-12 percent, significantly lower than prevailing commercial rates. This is made possible through a blended finance structure that combines subsidised public funding with market-rate private sector investments.
With Series 2, MOFI is paving the way for deeper private sector collaboration to accelerate housing development across the nation.
“As the fund progresses toward its N1 trillion goal, it will continue to catalyse investments that reshape Nigeria’s housing landscape and improve the lives of millions,” the MOFI statement added.
General
Nigerians Can Film Police on Duty—Court Declares
By Aduragbemi Omiyale
A Federal High Court in Warri, Delta State, has affirmed the right of Nigerians to film personnel of the Nigeria Police Force (NPF) on duty.
The judgment was given by Justice H. A. Nganjiwa on Tuesday in a case filed by Mr Maxwell Uwaifo in suit number FHC/WR/CS/87/2025.
The court held that Nigerians have the constitutional right to use any device to record police officers executing their official duties in public.
It was ruled that police officers must wear visible name tags, display their force numbers, and must not harass, intimidate, arrest, or seize devices from citizens documenting their activities.
The court awarded the applicant N5 million in damages for the violation of his fundamental rights and N2 million for the cost of litigation.
Business Post reports that the respondents in the case were the Inspector General of Police (IGP), the NPF, the Police Service Commission (PSC), and the Attorney-General of the Federation (AGF).
The lawyer filed the case in accordance with Sections 34, 35, 36, 37, 38, 39, 40, and 41 of the Constitution of Nigeria and others.
“This judgement has significant implications for policing standards, civil liberties, and public accountability across Nigeria,” Mr Uwaifo said after the judgement.
General
Lagos Consumes 30% of Total Power Off-Take in Nigeria—TCN
By Aduragbemi Omiyale
The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.
While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.
He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.
Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.
According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.
He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.
In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.
Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.
General
Anambra to Regain Economic Strength After End to Sit-at-Home—Soludo
By Adedapo Adesanya
The Governor of Anambra, Mr Chukwuma Soludo, says the years-long sit-at-home is now a thing of the past in the state as it will bring back lost economic viability to the South East state.
The governor spoke on Tuesday during his inauguration for a second term as the leader of the state, noting that security has improved in Anambra.
“The debilitating one-sit-at-home is over, and our schools, markets, businesses, and public servants are back to work. Reports say that ours is now the safest, or at least one of the safest states in Nigeria,” Mr Soludo said.
The second inauguration of the former governor of the Central Bank of Nigeria (CBN) witnessed eminent Nigerians, including ex-presidents Mr Goodluck Jonathan and Mr Olusegun Obasanjo, as well as the Vice President, Mr Kashim Shettima, among others.
“I’m sure many of you flew into Anambra yesterday, being Monday. Previously, it was not possible,” he said at the Alex Ekwueme Square in Awka, the state capital.
Primarily associated with the Indigenous People of Biafra (IPOB), a separatist group advocating for an independent Biafran state, the sit-at-home saw millions of South-East residents remain indoors, shut their businesses, and stay off the roads on Mondays. Initially, it was declared as a weekly protest (especially on Mondays) to demand the release of IPOB leader, Mr Nnamdi Kanu, in 2021 by the Federal Government and draw attention to the separatist cause.
The cause had significant socio-economic consequences in the South-East states like Abia, Anambra, Ebonyi, Enugu, and Imo.
However, Mr Soludo referenced several milestones, including the destruction of criminal camps and the “mass return” of Anambra indigenes during the Yuletide, as evidence of improving security in the state.
“Some 62 criminal camps have been dismantled, and 8 local governments previously under total siege have been liberated,” the governor said.
“Anambra had its best Christmas season in decades last December with a mass return and over 10,000 visitors per day to the Solution City every day until the 10th of January.”
Part of the measures to address insecurity in Anambra was the Homeland Security Law 2025, a measure the governor said contributed to the reduction in criminality.
The Independent National Electoral Commission (INEC) declared Mr Soludo as the winner of the November 8, 2025, governorship election in Anambra State. The APGA candidate polled a total of 422,664 votes, defeating his closest rival, the candidate of the All Progressives Congress, Mr Nicholas Ukachukwu, who scored 99,445 votes, while the candidate of the Young Progressives Party, Mr Paul Chukwuma, came third with 37,753 votes.
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