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Tag Archives: affordable housing

OPIC begins mortgage-backed affordable housing estate

Investors holding back on the Nigerian property market despite opportunities

“Plans to remove barriers hampering aspiring home owners have been kick-started by the Ogun State Property and Investment Corporation (OPIC), with the launch of the first phase of OPIC’s affordable housing units in New Makun City, Ogun State. The project would deliver 400 houses before the end of the year through technologically based building method under the Nigeria Mortgage Refinancing ...

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Post-Otodo Gbame: Nigeria desperately needs cheaper housing solutions

Housing deficit: shortcoming of the government

“Everything wrong with Lagos state government’s recent clearance of the riverside community, Otodo Gbame, can be summarised in one sentence – Nigeria does not know how to build houses cheaply.”- The Guardian There is nothing strange about clearing slums and there are very good reasons to do so. President Truman’s 1949 Housing Act provided $1bn in funding to localities across ...

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‘FMBN, REDAN, Shelter Afrique to create $2b affordable housing fund’

54,680 jobs in housing sector

“Some stakeholders have agreed to pool resources to tackle the housing problem headlong. This is by ensuring  improved access to credit facility and reducing development costs for low-income housing.”- The Nation The Federal Mortgage Bank of Nigeria (FMBN), Real Estate Developers Association of Nigeria (REDAN) and a pan-African finance institution, Shelter Afrique have joined forces to create a $2 billion ...

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Moves to tackle affordable housing shortage in Nigeria

17 million housing deficit

According to The Guardian, in the face of a housing deficit that numbers millions of units, Nigeria is working to tackle affordable housing shortage by improving access to credit and reducing development costs for low-income housing. Easing mortgage access In March the federal government announced it would waive an initial 10% payment on mortgages below N5m ($15,700) administered by the state-owned ...

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Mortgage banks propose one-year job insurance scheme

Mortgage banks propose one-year job insurance scheme

The Guardian reports that fresh efforts are underway to seek pragmatic and contemporary solutions to the challenges in the mortgage sub-sector, following plans by the operators to extend loss of job insurance scheme, which will cover mortgage default up to a year. The scheme is already in place and covers up to six months. Mortgage insurance, which is widely used in other countries and is compulsory ...

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‘Government must address self-help housing to reduce housing problems in Lagos” -Mr Lookman Oshodi

'Government must address self-help housing to reduce housing problems in Lagos" -Mr Lookman Oshodi,

This is the second part of the interview we had with Mr Lookman Oshodi, project director of Arctic Infrastructure. You can read the first part here. In the second part of the interview we discussed how private sectors can come on board the housing strategies in Lagos state, the explosive population, self-help housing, housing problems in Lagos etc. Read the ...

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Real Estate Developers to sue surveyors over hike in fees

How Ex-Naval Chief, used family company to acquire N600m property

According to Daily Post, the Real Estate Developers Association of Nigeria, REDAN, has threatened to take surveyors to court if the proposed increment in the cost of preparing survey plans for lands across the country is implemented. This was disclosed in a letter to Surveyors by Counsel to REDAN, Ebun-Olu Adegboruwa. Adegboruwa warned that such plan if implemented will result ...

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60% housing stock in Nigeria is imported – Aliyu

Investors holding back on the Nigerian property market despite opportunities

“Mallam Ibrahim Aliyu is the chairman of Urban Shelter Limited and former managing director of Nigeria Industrial Development Bank now Bank of Industry. In this interview with CHIKA OKEKE, he regretted that 60 per cent of Nigeria’s housing stock was imported saying that over 70 per cent of workers rent houses. Many PMIs have been enmeshed in alleged corrupt practices ...

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We’re Now Refocusing On Project Completion – Fashola

Federal Housing: Allottees protest alleged resell of plots

“Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, in this interview with select journalists in Maiduguri after a three-day tour of ongoing projects in the North-East zone, explains his vision of reconnecting Nigeria by roads, power and housing.  Honourable Minister, how would you react to the common notion that all Nigerian roads are bad? Well, I think that ...

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How budget delay hinders housing delivery, by stakeholders

Lagos hands over 200 rent-to-own homes

According to The Guardian, Stakeholders in the built sector say the delay in passing the 2017 budget which is making uncertain the amount of money to be spent in the industry may impact negatively on housing delivery this year. The country has between 17million and 18 million housing deficit and will need one million houses yearly to fill the gap. ...

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