Nigeria Deficient In 17m Housing Units

Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN)

Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN)

Joshua Kigbu, The Managing Director, Nasarawa investment and property development company Ayuba Ayenajeh says Nigeria is deficient in seventeen million housing units.

He stated this while presenting a paper title “How To Produce Housing Loan From FMBN” under the national housing fund scheme in Akwanga.

The Managing Director, Nasarawa investment and property explained that there is a universal shortage of need in dwelling housing units, especially in developing countries like Nigeria where population growth and urbanization are rapidly on the increase and where the gap between the housing supply and housing demand is so wide.

He said some of the constraints to housing delivery include escalating high cost of building materials, inaccessibility to low and cheap housing finance, poor remuneration and low minimum wage of workers, ineffective mortage system, low political will and commitments by government, lack of provisions of in of loans to developers in the industry.

Aruba believes that the present government of President Muhammadu Buhari as his budget focus on development and employment, things will surely change in the industry.

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