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Tag Archives: Housing deficit

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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School of estate, others advocate to tackle housing deficit

School of Estate

LAGOS, Nigeria, March 28, 2019 A Special Interest Group (SIG) comprising individuals operating in the real estate sector have come together under the aegis of the School of Estate to address the myriads of lingering housing challenges in Nigeria. As part of a triangulation approach for scientific policy work on challenges and opportunities in funding housing development projects in Nigeria, ...

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Odu’a Investment partners UK-based company to address housing deficit in Ibadan

Odu’a Investment

The Odu’a Investment Company Limited (OICL) has signed a Memorandum of Understanding with the United-Kingdom-based Iconic City Ltd for the development of its 3.8 hectares of land opposite Nigeria Breweries Ltd, Alakia, Ibadan, Oyo State, into a vast residential housing estate. Odu’a Investment is a business conglomerate jointly owned by the six states in the south west of Nigeria, viz ...

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Experts urge Buhari to prioritise mass housing development


Some operators in the housing and construction industry have congratulated President Muhammadu Buhari on his re-election, tasking him to approach the issue of housing, especially mass housing, with all seriousness. The experts told the newsmen in Lagos that the president had not done much in tackling the nation’s housing shortfall which stood at 17 million in spite of his remarkable ...

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Niger pledges to ease acquisition of land for second phase of NHP


The Niger Government says it will remove obstacles hindering acquisition of land for the second phase of the National Housing Programme (NHP). Mr. Sani Lafiya, Director General, Projects Monitoring and Documentation, Governor’s Office, spoke during an inspection of the Minna NHP site, first phase by North Central Zonal Director, Mr. Valentine Nwaimo. Nwaimo was in the state in the company ...

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