The federal government is planning fresh investments of N3.5trillion in the Nigerian housing sector to address the 17 million housing deficit in the country. The investment is to be made within the next four years as part of strategies of government to boost housing delivery and guarantee afordable housing for Nigerians. Details of the four-year plan are contained in the National Economic Development Plan of the federal government lauched by president Muhammadu Buhari. The document shows that the N3.53 trillion investment includes an estimated public investment in the development of urban road of about N1.68 trillion. The blueprint for the sector covering 2021-2025 stated that despite these challenges, the increasing demand for housing is increasing because of rapid urbanisation. This could be leveraged as a considerable engine for growth. "Both federal and state governments will make the construction of affordable housing a priority to bridge any housing deficit, reduce slums and create opportunities for sustainable urban regeneration in Nigeria". The operational efficiency of the Federal Mortgage Bank and the Family Homes in collaboration with the primary Mortgage Banks and the private real estate firms will be a priority.
Index to Nigerian Newspapers
