The federal government has announced plans to construct 100 social housing units in each local government area across the country as part of efforts to address Nigeria’s housing deficit and improve access to affordable accommodation.
The Minister of Housing and Urban Development, Muttaka Rabe Darma, disclosed this while outlining ongoing housing reforms at the closing ceremony of the 15th National Council on Lands, Housing and Urban Development held in Sokoto State on Thursday.
Darma also revealed that the government was considering increasing the maximum mortgage financing limit from N50m to N85m to enable more Nigerians to own homes amid rising construction costs.
The proposed social housing programme is expected to target low-income earners, particularly workers who cannot afford to build or purchase their own houses.
The minister cited primary school teachers and other low-income workers who spend their working lives in rented accommodation as potential beneficiaries of the initiative.
He said the government was committed to ensuring that Nigerians with modest incomes could access decent and affordable housing.
As part of efforts to improve mortgage accessibility, Darma said the government had directed the Federal Mortgage Bank of Nigeria to disburse at least 70 per cent of its annual collections to support housing loans.
He added that the government was working towards establishing a National Housing Finance Authority to strengthen regulation, coordination and accountability in the housing finance sector.
The minister also announced plans to expand access to homeownership for Nigerians in the diaspora through a mortgage programme that would enable them to acquire houses in their preferred locations.
On land administration, he said the government was developing a centralised land management system to enable prospective buyers to verify property ownership and determine whether land was free from legal disputes without travelling to the states where the properties were located.
