‘N70tr needed to bridge Nigeria’s housing deficit’

At least, N70 trillion has been estimated as financial requirement for bridging the housing shortfall in Nigeria. This, according to the Faculty Housing Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Elder Biodun Odeleye, is based on an average cost of N3.5 million per unit of about 20 million houses being lacked […]

At least, N70 trillion has been estimated as financial requirement for bridging the housing shortfall in Nigeria.
This, according to the Faculty Housing Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Elder Biodun Odeleye, is based on an average cost of N3.5 million per unit of about 20 million houses being lacked in the country.
Speaking in Lagos  at a pre-summit conference of NIESV’s 5th National Housing Summit, slated for October 6, 2016 in Port Harcourt, Odeleye added that despite various policies, institutions and regulations which the Nigerian government had put in place since the 1960, “people still suffer from dearth of housing.”
 He said that the theme of the summit: “10,000 Housing Units in Each State of the Federation: Issues and Prospect,’’ was going to beam light on the subject matter, so that direction towards implementation of the 37,000 housing project could be plotted.