The challenges of housing in Nigeria have continued to remain a major problem if not tackled. He stressed that though N30.94 billion is like a drop in ocean considering the huge housing deficit and the World Bank projections for housing development, government cannot go above its limit. Even if N5 billion was budgeted let it be released for housing development, as it will reduce the deficit. With proper infrastructure and mortgage refinancing, private institutions with credible assets and mortgage institutions will grow in the sector. The answer is that we don’t have any reasonable number and the cause is that we don’t have enough mortgage institutions, financial institutions mortgage system.

Source: The Guardian February 04, 2019 04:18 UTC