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Tag Archives: affordable housing

Oyo-Ita to Speak on Affordable Housing at IUHF Congress in Washington DC

Buhari committed to bridging Nigeria’s 17 million housing deficit —Oyo-Ita

“The 30th World Congress of International Union for Housing Finance holding in Washington DC on June 25-27 2017 will discuss opportunities and risks of investing in mortgage debt, including cross-border investments, funding alternatives to international finances capital, and tackling housing affordability challenge. There will be high-level sessions with eminent plenary speakers drawn from different countries including Asia, Africa, America and ...

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Adeosun meets int’l financiers over affordable housing

Adeosun meets int’l financiers over affordable housing

“Hopes of affordable housing brightened at the weekend as the Minister of Finance, Mrs Kemi Adeosun met with international finance Institutions at the World Bank Spring Meetings to fine-tune arrangements on how Nigerians can enjoy affordable housing.”- The Sun Speaking at a forum, Adeosun said: “Delivering affordable housing is critical to the delivery of our reform agenda and it is ...

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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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