For millions of Nigerians, home ownership has become less of an aspiration and more of a distant dream. Rising inflation, stagnant wages, soaring land prices, expensive building materials and a virtually inaccessible mortgage system have combined to create one of the most severe housing crises in the nation’s history.
The reality is clear, as Nigeria faces a housing deficit estimated in the tens of millions of units, while a significant proportion of urban residents spend a substantial part of their income on rent. In major cities such as Lagos, Abuja, Port Harcourt and Kano, yearly rent increases continue to outpace salary growth, leaving many families trapped in a cycle of perpetual tenancy.
Successive governments have acknowledged the problem, yet meaningful solutions remain elusive. From various national housing programmes and mortgage initiatives to low-cost housing schemes and institutional reforms, the promise of affordable housing has repeatedly fallen short of expectations. Decades
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