Nigeria’s housing shortage has reached crisis point, with a particular need for low-income housing. The Transformation Agenda and Vision 20:2020 are the government’s framework and implementation plan for the provision of low-income housing – even though income segments aren’t specified in the plan. This plan views housing as a critical piece of infrastructure to increase economic development of Nigeria.
The Transformation Agenda details the responsibility of the Federal Ministry of Housing, which is that they will collaborate with state and local governments to provide Sites and Services across Nigeria. In turn, state and local governments are responsible for the provision of 100,000 to 200,000 housing units per year in major cities, and they are encouraged to use local materials in construction so as to stimulate the local economy. Vision 20:2020 outlines the implementation of a massive increase in the housing stock, and encourages the use of public-private partnerships to achieve this.
Source:
Financial Systems Strategy 2020 & Central Bank of Nigeria. (2020) Nigeria: Housing Finance Ecosystem. Centre for Affordable Housing Finance in Africa.
Link: https://housingfinanceafrica.org/documents/nigeria-nigeria-housing-finance-ecosystem/