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Tag Archives: Housing deficit

Lagos seeks private sector partnership to tackle housing deficit

housing deficit

To address its eight million units housing deficit, the Lagos State government has expressed readiness to partner with interested and capable investors in the real estate sector. Commissioner for Housing, Mr. Moruf Akinderu-Fatai, said this in his Ikeja office while reviewing the activities of the ministry. He described the housing deficit in the state as quite huge, particularly in the ...

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FG restates commitment to reducing housing deficit through cooperatives

housing deficit

The Federal Government on Thursday restated commitment to address the housing deficit through the cooperative societies that have lands across the country. Mr. Babatunde Fashola, Minister of Works and Housing said this when the Coalition of South-South Chamber of Commerce, Industry, Mines, and Agriculture visited him in Abuja. Fashola said the Federal Government alone cannot solve housing deficit noting that ...

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Reps to implement laws on housing deficit


Minority Whip House of Representatives, Gideon Luka has promised to formulate implementable laws to address housing deficit in the country. Luka, who spoke in Abuja at the Archibuild 2019 Exposition with theme: “Driving Nigerian Architecture through Technology’’, said the House would also ensure that the Nigerian Institute of Architects (NIA) was supported and protected. Luka advised the gathering to work ...

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Shelter Afrique to invest $180m to address housing deficit

Shelter Afrique

Shelter Afrique, a non-governmental organisation, is to invest 180 million dollars in five years toward addressing Nigeria’s housing deficit, its Managing Director, Andrew Chimphondah, said on Tuesday in Abuja. Mr. Chimphondah told the newsmen that the investment period would span from 2019 to 2024. He said that Nigeria was a strategic market for Shelter Afrique, adding that the outfit’s shareholders ...

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Landlords, tenants target smaller apartments

smaller apartments

Owing to other factors not limited to prolonged economic hardship and low purchasing power, landlords and tenants have been caught in the web of race for smaller apartments. Dayo Ayeyemi reports There is a shift in the demand for accommodation in the real estate market as many landlords are converting their three and four bedroom apartments to one room, room ...

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REDAN lists challenges facing housing sector in Nigeria


High cost of securing and registering secure land title; inadequate access to finance, slow administrative procedures, and high cost of land, have been identified as the major factors affecting housing development in the country. President of Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochukwu Chime who stated this in Enugu, said the association was collaborating with other critical stakeholders ...

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Fashola refutes 20m housing deficit claim, says no evidence


Minister for Works, Housing and Power Babatunde Fashola (SAN), Tuesday dismissed insinuations that Nigeria has twenty million housing deficit. He conceded that Nigeria has housing challenges, but added that housing challenges are universal phenomenal. The minister told reporters in Ilorin, the Kwara state capital at the end of a capacity building workshop for Federal Controllers of lands and housing in ...

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Chinese firm offers to solve Nigeria’s housing problems


The management of Sinoria FABCOM, a subsidiary of one of China’s leading business conglomerates, Sinoma, says the company is in Nigeria to help solve the country’s housing problem with its products. Sinoma FABCOM, is a leading manufacturer of stone-coated roofing tiles and fiber cement board. The company is the only one of its kind in the whole of West Africa ...

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FMBN disburses N58bn loans in 1 year


Committed to improving service delivery, the Federal Mortgage Bank of Nigeria (FMBN) has disbursed the sum of N58 billion from April 2017 to March 2019. Providing a breakdown of the disbursement, the managing director / chief executive of the bank, Arc Ahmed Dangiwa said that the amount covered the provision of National Housing Fund (NHF) mortgages to 3,171 workers at ...

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Housing deficit: N16trn from CBN, PenCom, others to boost sector


With a whopping N16 trillion from Central Bank of Nigeria (CBN), the Pension Scheme, Mortgage institutions and other related financial services organisations, Nigeria’s housing sector is set to receive a boost. Efforts are being made to allow pension contributors to access 25 per cent of the savings in their respective Retirement Savings Accounts(RSAs) for mortgage finance. In order to facilitate ...

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