My husband and I have gone house-hunting only once in our lifetime. We eventually found a place, but I can guarantee it is an experience we never ever want to repeat.
Key takeaways:
-
According to the National Development Plan (NDP), Nigeria needs at least ₦17.5 trillion between 2021 and 2025 or ₦4 trillion yearly, to revamp its housing sector.
-
The current contributions of the federal and state governments, including institutions such as the Nigerian Exchange Group (NGX) and the National Pension Commission (Pencom), do not move the needle in filling up this finance pool to build affordable homes for Nigerians.
-
However, home developers have begun leveraging capital market products such as bonds, equity and REITs to make capital more available. Others are considering fractionisation and co-home ownership to raise more money for home development.
Finding a home to buy in most parts of the country can be gruelling and has
