The Federal Government has expressed concern over the inability of more than 80% of Nigerians to afford mortgage housing due to a lack of access to housing finance.
Minister of Housing and Urban Development, Ahmed Dangiwa, highlighted this pressing issue during the opening of the maiden Kaduna International Housing Exhibition at the Umaru Musa Yar’Adua Hall.
Dangiwa emphasized that affordability is a significant challenge that governments must address to provide sustainable housing solutions.
He pointed out that almost half of Nigeria’s population is poor, with weak purchasing power.
“Of the 43 million households, over 85% have less than N1.1 million in purchasing power. Of this, 40% (about 17.2 million households) fall into the poverty income group, and 47% (about 20.2 million) fall into the low-income group,” he explained.
The Minister also noted that Nigeria is predominantly a low-income country, with only 13% of the population considered middle class.
He remarked that recent macroeconomic challenges, including inflation, have exacerbated the situation, making housing affordability even more difficult.
His words: “In response to this crisis, this government, under President Bola Tinubu‘s administration, plans to establish a National Social Housing Fund (NSHF).
“This initiative aims to pool resources from the budget, philanthropic organizations, and well-meaning Nigerians to provide decent shelter for those in the no-income, low-income, and vulnerable brackets who cannot afford to own homes.
“Some of these units will be delivered at no cost. We have developed the concept note and it is undergoing review. Once concluded, we will present it to the Federal Executive Council (FEC) for approval and legislation.”
The Minister reiterated the importance of social housing, describing it as both a necessity and a security measure.
He stressed that homeownership gives individuals a sense of belonging and a stake in the community, which in turn fosters social cohesion, understanding, and peace.
On his part, Kaduna governor, Uba Sani, represented by deputy governor Dr. Hadiza Balarabe, affirmed the state administration’s commitment to addressing the housing deficit in line with President Tinubu’s Renewed Hope Agenda.
He detailed the state’s holistic approach, which includes partnerships with local and international investors to provide affordable housing.
Governor Sani highlighted several initiatives, such as the collaboration with Qatar Charity to construct mass housing for the less privileged and the development of the Kaduna Economic City.
He also mentioned the groundbreaking ceremony for the 3,319 hectares Nuru Suraj Ungwar Dosa New Extension Layout, a project executed through a Public-Private Partnership aimed at developing 35,000 plots for the people of Kaduna.