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The Nigerian government wants estate developers to promote single digit mortgage facility for low and middle income earners.
Speaking at a summit on housing in Abuja on Monday, the Minister of Power, Works and Housing, Mr Babatunde Fashola, reiterated the government’s commitment to finding a lasting solution to the housing needs of Nigerians through an affordable housing programme.
He criticised the practice where landlords demand for one or two years rent from prospective tenants.
Nigeria’s housing deficit presently stands at 17 million according to the Nigerian Institute of Architects and that has been a major concern for several administrations in Nigeria.
The Summit was another effort by the present administration to address the deficit in the housing sector.
Estate developers, mortgage firms and development partners proffered steps government should take to address the housing challenges in Nigeria.
The consensus is that Nigeria is yet to develop a vibrant affordable housing scheme that helps Nigerians own their own houses without financial stress.
The hope is that the present administration will drive an affordable housing policy in the interest of Nigerians.
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