80% CANNOT AFFORD HOUSING MORTGAGE - HOUSING MINISTER

The Minister, Housing and Urban Development, Arc. Ahmed Dangiwa

80% Of Nigerians Cannot Afford  Housing Mortgage -Says Minister 

...Nigeria’s population of over 201 million are living in poverty, with an overwhelming majority having weak purchasing power.

...it is important for us to ensure that the solutions, strategies and actions that we map out to develop and deliver housing must be sustainable- Arc. Dangiwa

Emmanuel Oduara 

The Minister of Housing and Urban Development, Arc Ahmed Dangiwa, has  affirmed that more than 80% of Nigerians are unable to afford housing mortgage and nearly over 201 million are living in poverty, with an overwhelming majority having weak purchasing power

In his  opening speech as he highlighted some challenges the housing sector is facing at the maiden edition of the Kaduna International Housing Exhibition 1.0 at the Yar’Adua Hall on Monday,  1st July 2024 Kaduna State Nigeria. the minister  were he made this stocking revelations.

"Dangiwa said  over half of Nigeria’s population of over 201 million are living in poverty, with an overwhelming majority having weak purchasing power.

"This statistics has revealed, Nigeria been projected as a  low-income country with 13% of its population as middle class.  As the macro-economic challenges, including inflation, have exacerbated this situation, he noted.

"He however, assured that it’s against that background that President Tinubu’s government through the Ministry of Housing and Urban Development is planning to establish a National Social Housing Fund (NSHF) and the renewed hope agenda.

"Under the NSHF, the Federal Government is aiming to pull funds from the government budget, philanthropic organizations and well-meaning Nigerians towards providing decent shelter for Nigerians without income, low income and vulnerable in this brackets,  who cannot afford to own their homes become house owners.

"Federal Executive Council (FEC) has given approval and legislation. To proffer solutions to the housing challenges, noting that the units of these houses will be delivered at no costand have developed a concept and is undergoing review. Once concluded it be will presented to publi, he said.

"Because housing is capital intensive and the government has limited funds, social housing is not only a necessity as is in the a ceas of security insurance, it is  for both the rich and the poor, we need to  find alternative collective avenues to help our people especially the underprivileged, for our collective good.” 

"He also pointed that sustainable housing designs for homes that can withstand and adapt to changing environmental conditions such as climate change and natural disasters, are actions that must be taken today with an eye for tomorrow. 

"This will encourage the deliberate development of integrated living communities standard that are not only environmentally friendly but also enhance the quality of life for current and future generations, he said.

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 should engage in while applauding the Kaduna State government reform initiatives that makes Kaduna a good model for other States.

"Particularly, Kaduna has shown great leadership through the early adoption of the Model Mortgage Foreclosure Law and the us Geographic Information Systems (GIS) which showcases the transformative potential of innovative solutions in easing land administration processes and reducing formalization costs.

We encourage all States to adopt these measures and initiatives to boost sustainable housing delivery. The State stands as a good example of how we should approach the challenges in the housing sector, He said.

"In June 2017, Kaduna State became one of the first states in the country to adopt and pass into law the Model Mortgage Foreclosure Law (MMFL). 

Hypenews Reports gathered, that Kaduna State now has a functional State Mortgage and Foreclosure Authority that coordinates and promotes housing investments and mortgage development activities as stipulated in the foreclosure law.

On the supply side, Kaduna State has implemented reforms in land administration, titling and registration and offered fiscal incentives, among others. 

"They have digitized land administration through the Kaduna Geographic Information Service (KADGIS), provided land for willing developers to help expand the housing stock and even began direct construction of low-medium income housing by their Ministry of Housing and Urban Development. 

"The Minister mentioned on the demand side, they have developed single-digit interest rate mortgage arrangements with Sterling Bank, FHA Mortgage Bank and NMRC. 

"On the mortgage arrangement with Sterling Bank has enabled the buyers of non-essential government residential assets, more than 80 percent of whom are civil servants, to secure mortgage loans to pay for the properties which were sold at open market value. He noted.

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 Governor 

While speaking with Newsmen, Hypenews Reports, the MD/CEO KSDPC Convener, Abubakar Rabiu Abubakar,  the Kaduna international housing exhibition 1.0, Said this exhibition conference is geared towards profferig solutions to housing challenges, as this will connect prospective customers, real estate investors, top government officials, housing policy makers, industry professionals, sales agent and high net-worth clients to bring affordable and sustainable  housing to Northern Nigeria region. 

"Collaborations with other states government will bring affordable and sustainable housing solutions to the people. He however appreciated the government of His Excellency Senator Uba Sani, the Governor, Kaduna State and the chief host of Kaduna international Housing Exhibition (KADIHE 1.0). For his  visionary leadership and supportive structures he put in place to make things work properly, he said.

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