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Inadequate Financing Cause of Nigeria’s Housing Deficit – Prof Charles Inyangete

The widening housing deficit in Nigeria has been blamed on the lack of adequate financing.

A development expert, Professor Charles Inyangete pushed this opinion at a facility management forum in Abuja.

Mortgage housing finance has remained a major setback for Nigerians to own homes of their own, as most mortgage institutions only build houses that are affordable by high-income earners.

Inyangete says financing in Nigeria is very expensive going by the interest rates which are usually double digits.

He stated that one of the ways Nigeria can bridge the gap of housing deficit is constructing new, affordable houses.

One other major issue at the front burner is the need for the government to pay urgent attention to facility management.

Government has also been advised to come up with penalties for the owners of empty houses in the country.

Source. Aitonline

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