Effect of Over 82 million poor Nigerians on Housing

According to the National Bureau of Statistics, an estimate of 82.9 million Nigerians are poor by standards of living. See how Landlord Hero discuss this effect on real estate.

A popular idea of mass housing for the poor is not a popular investment. People living in poverty generally have less good, and less desirable, housing conditions than those with higher incomes. Hence, less interest from private investors.

Housing is a global issue relatively and with Nigeria, poor economic circumstances affect housing. Low incomes prevent access to many potential housing options or make them hard to sustain.

Housing is a major charge on income and it makes a big contribution to material living conditions. Even though according to reports, Nigeria’s construction and real estate sectors are growing at more than 10 and 12 per cent respectively.

Social housing is already highly targeting people with low incomes, there is the need to cater to the most ‘pro-poor’ and redistributive major aspect of the entire welfare state.

The report highlighted more Northern states on top of the list. Therefore, a lot needs to be done to provide mass housing for the poor.