The federal housing authority has expressed readiness to commence construction of estates in Niger state.
The managing director of the Agency Oyetunde Ojo met with the Niger state governor Umaru Bago at the government house in Minna to discuss modalities for the project.
What are the chances that an average Nigerian with a salary of 70,000 naira can own a house or rent a decent accommodation while meeting other needs?
A major barrier to home ownership in Nigeria is an inefficient mortgage system that struggles with limited access to mortgage funding and high interest rates.
Nigeria’s housing deficit surged from 14 million units in 2010 to a staggering 28 million units in 2022.
While this is alarming, it opens a huge window of opportunity for the government and private sectors to partner in providing more houses for Nigerians.
The management team at the federal housing authority are in Niger state to strengthen the partnership between the federal government and sub national governments in building more houses for the citizens .
The Niger state governor Umaru Bago has promised to provide free land to the FHA to situate estates anywhere in the state, taking away the challenge of access to land.
The high cost of building materials, exchange rate fluctuations, and land acquisition issues remain some of the challenges in the housing sector in Nigeria.
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