The high costs of acquiring land and building materials are the major reasons Nigeria has a high housing deficit.

Nigeria’s housing deficit currently stands at about 16 million units.

The Minister of Lands, Housing and Urban Development, Ms Amal Pepple, disclosed this in Abuja during the 2nd Aso Savings and Loans Plc national Housing exhibition on Thursday.

Pepple, however, said that government was exploring various strategies of providing affordable housing for the people.

She also appealed to financial institutions to make mortgage facilities available to people with affordable interest, adding that the move would provide Nigerians with an opportunity to own their homes.

She hinted that government was working with stakeholders in the housing sector to tackle the housing deficit in the country.

She said, “As part of the moves to have accurate data on the housing deficit in the country, the ministry is in talks with Cities Alliance with a view to conducting housing census in Nigeria.”

Pepple also added that the Federal Government had begun discussion with state governments to make land available for the construction of low cost housing.

The Managing Director, Aso Savings & Loan Plc, Mr. Hassan Usman, said that the bank would continue to provide financial services to the country’s housing delivery sector.

For instance, he said that the mortgage bank had in the past decade provided loan facilities of N40bn for over 15,000 house owners across the country.

He said, “Aso’s passion to see Nigerians own their houses and experience financial freedom has led to our organising this exhibition, a forum where all stakeholders involved in the housing market can convene; this includes estate developers, building materials suppliers, architects and interior decorators.”

Source: Punch