The Minister of Housing and Urban Development, Ahmed Dangiwa has said more than 80 per cent of Nigerians cannot afford mortgages to own houses.
He claimed on Monday, 01 July at the maiden edition of the Kaduna International Housing Exhibition, which was held at the Yar’Adua Hall, in Kaduna. According to the minister, statistics have shown that almost half of Nigeria’s population of over 201 million are poor and have weak purchasing power.
He added that the recent macroeconomic challenges, including inflation, have made things worse. Dangiwa however said that against this backdrop, the President Bola Tinubu-led government, through the Ministry of Housing and Urban Development, is planning to establish a National Social Housing Fund (NSHF).
Dangiwa explained that under the NSHF, the federal government is aiming to pull funds from the government budget, philanthropic organizations and well-meaning Nigerians to provide decent shelter for people with no income, low-income and vulnerable citizens who cannot afford to own their homes.
“Some of these units will be delivered at no cost. We have developed the concept which is undergoing review. Once concluded, we will present it to the Federal Executive Council (FEC) for approval and legislation.” He said.
