Housing Microfinance is an interesting innovation appropriate for the Nigerian market. It functions by providing small, short-term loans to match step-by-step housing construction that the lower-income segment can afford. Technical support ensures that people get the best possible housing …
The Nigerian housing sector has an affordability challenge. Housing delivery is targeted mainly at the middle high income segment of the population that can either pay cash or access mortgage finance from the banks.
With growing population, a lingering housing deficit and government’s continued inability to provide affordable housing in practical sense, a multinational has seized the initiative to provide technical support, materials, and connect mortgage providers with prospective house owners, among others. MUYIWA …
Housing supply is grossly inadequate in Nigeria, which is evident from the national deficit of 17 million units. Housing finance remains in its infancy: its mortgage/GDP ratio of 0.5% compares with South Africa’s 30%.
Prof. Gbenga Nubi, Director, Centre for Housing Studies, University of
Lagos, has urged the Federal and state Governments to replicate the
then Jakande Mass Housing Scheme to bridge housing deficit in Nigeria.
Osun State Governor, Ogbeni Rauf Aregbesola has lauded the managerial prowess of the Board and Management of Omoluabi Mortgage Bank Plc., for recording astronomical growth across all lines in the 2017 financial year.