Minister of Housing and Urban Development,Ahmed Dangiwa, has disclosed that more than 80% of Nigerians are unable to afford mortgage housing.
Speaking at the maiden edition of the Kaduna International Housing Exhibition at the Yar’Adua Hall on Monday, the minister painted a bleak picture of housing affordability in the country.
Dangiwa highlighted that nearly half of Nigeria’s population of over 201 million are living in poverty, with an overwhelming majority having weak purchasing power.
He noted that recent macro-economic challenges, including inflation, have exacerbated the situation.
“In fact, of the 43 million households, over 85% have less than N1.1 million purchasing power,” Dangiwa stated. “Of this, 40% (about 17.2 million households) fall into the poverty income group and 47% (about 20.2 million) fall into the low-income group.
On the whole, statistics reveal that Nigeria is a low-income country as it has only 13% of its population as middle class.”
The minister stressed that affordability remains a critical issue that governments at all levels must address to provide sustainable housing for citizens.
He pointed out that the financial constraints faced by the majority of Nigerians hinder their ability to secure mortgage housing.
To combat this housing crisis, Dangiwa announced that the President Bola Tinubu-led government, through the Ministry of Housing and Urban Development, is planning to establish a National Social Housing Fund (NSHF).
The NSHF aims to pool funds from the government budget, philanthropic organizations, and well-meaning Nigerians to provide decent shelter for those with no income, low income, and vulnerable citizens who cannot afford to own homes.
“Some of these units will be delivered at no cost,” Dangiwa explained. “We have developed the concept which is undergoing review. Once concluded, we will present it to the Federal Executive Council (FEC) for approval and legislation.”
Emphasizing the importance of social housing, Dangiwa remarked, “Social housing is not only a necessity, but also a security insurance for the rich and the poor.
Housing is capital intensive and the government has limited funds, we must find alternative collective avenues to help our brothers and sisters who are underprivileged. It is for our collective good.”
The minister added that home ownership fosters social cohesion, understanding, and peace, as it gives individuals a sense of belonging and a stake in the community.
Dangiwa commended the Kaduna state government for its practical and inclusive approach to housing delivery, which includes organizing the Kaduna International Housing Exhibition.
He praised the state’s efforts to address the housing deficit through partnerships with local and international investors.
Speaking earlier at the event, Governor Uba Sani, represented by his deputy, Hadiza Balarabe, reiterated his administration’s commitment to providing affordable housing for citizens.
He highlighted ongoing collaborations with local and international investors, including the Qatar Charity, which is constructing mass housing for the less privileged in partnership with the Kaduna State Government
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