Close to half of Nigeria’s population live in cities and over 50 percent of them live in slum conditions. Inadequate access to finance, slow administrative procedures, a high cost of land registration and titling among others are the major issues that continue to affect housing in Nigeria which makes homeownership almost impossible for the average Nigerian. Abuja, Lagos, Port Harcourt, Calabar and Warri among others are the cities with the highest housing deficit in Nigeria.
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Speaking on Sunrise Daily, a program on Channels TV, he said the ministry is currently constructing about 2,000 pilot scheme Housing Units in 33 States. According to him, beneficiaries of the houses will be in an income bracket of grade level 8 – 14 in both private and public sectors. A grade 8 employee in government receives a salary of about N80,000 per month.
Fashola also revealed that the Minister of State, Mustapha Baba Shehuri, had undergone inspection tour of houses under construction in the 33 States and expressed satisfaction at the work done so far, adding that some of the housing constructions are at the roofing and lintel stages.
He urged Nigerians to embrace and key into the concept of mortgages as a means of financing home ownership because that is the practice in other countries.
He said the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA) being Parastatals of the Ministry are alive to their responsibilities of meeting the mass housing needs of Nigerians with the construction of housing estates across the nation.
Source: Nigerian Bulletin