As Nigeria continues to experience a steady rise in its population as well as an increase in urbanisation, the Federal Government has prioritised the need to focus on its goal of affordable housing, particularly for low-income earners.
A demographic emergency is not a situation to be taken for granted, which explains why this has received this level of attention from the government. A total of N35.4 billion was set aside in the 2018 Appropriation Bill to tackle the housing needs of the nation’s workforce. This was done under the Nigeria Housing Finance Programme (NHFP).
The success of this effort is hinged on the quite a number of factors and one of such factors is the effective implementation of the scheme.
Final Thoughts on Mortgage Trends
Mortgage loans and refinancing will thrive in an enabling environment that is rich with positive economic indices. As expected, the mortgage industry comes with a mixed kettle of opportunities and risks but Nigerians but Nigerians can expect the delivery of more affordable homes. These houses will be delivered through a persistent effort into looking at activities around primary mortgage origination as well as secondary mortgage refinancing.
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