Tag Archives: Nigeria’s housing deficit

Mass housing deficit across the country have been attributed to weak mortgage laws, which does not encourage long term credit facility for prospective housing developers, as it is done in developed countries. Addressing the media on Monday, on its 2015 Archibuilt edition, with the theme: Solution for Everyday Living, in Abuja, the Chairman of Archibuilt Development Service Limited (ADSL), Mrs. ...

According to Nigeria’s Ministry of Lands, Housing and Urban Development, the country needs about N59 trillion to address Nigeria’s housing deficit by adding two million units each year. Stakeholders believe Nigeria’s N4.7 trillion pension funds must play a key role in bridging the gap. Kehinde Ogundimu, CFO, Nigeria Mortgage Refinance Company joins CNBC Africa to discuss how pension funds can ...

Analysts have estimated the housing deficit in Nigeria at about 16 million. In one report they  also stated that over 50 per cent of 170 million people living in the country are either homeless or without adequate housing. Nigeria’s real estate sector accounts for 7.6 per cent of the country’s recently rebased Gross Domestic Product (GDP). In an attempt to ...