Home News Over 85% Have Less Than N1.1m Purchasing Power -Dangiwa

Over 85% Have Less Than N1.1m Purchasing Power -Dangiwa

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The Minister of Housing and Urban Development, Ahmed Dangiwa, on Monday, lamented that 80 per cent of Nigerians cannot afford housing due to financial constraints.

This, Dangiwa noted accounted for the major causes of the housing deficit in the country. The minister stated this in his keynote address at the opening of the maiden Kaduna International Housing Exhibition, held at Umaru Musa Yar’Adua Hall, Kaduna.

He noted that the major issue governments at all levels have to address in their desire to deliver sustainability to the citizens is the issue of affordability.

He added that statistics had shown that almost half of Nigeria’s population of over 200 million are poor and have weak purchasing power.

He said, “In fact, of the 43 million households, over 85% have less than N1.1m purchasing power. Of this, 40% (about 17.2 million households fall into the poverty income group and 47% (about 20.2 million) fall into the low-income group.

“On the whole, statistics reveal that Nigeria is a low-income country as it has only 13% of its population as middle class. The recent macro-economic challenges including inflation have made things worse.”

Consequently, the minister said the President Bola Tinubu-led administration, through the Ministry of Housing and Urban Development, was planning to establish a National Social Housing Funds.

He said under the NSHF, the Federal Government aimed to pull funds from the government budget, philanthropic organisations and well-meaning Nigerians towards providing decent shelter for Nigerians with no income, low income and vulnerable brackets who cannot afford to own their homes.

“Some of these units will be delivered at no cost. We have developed the concept note that is undergoing review. Once concluded we will present it to the Federal Executive Council for approval and legislation.

“Social housing is not only a necessity it is also a security insurance for the rich and the poor. Because housing is capital intensive and the government has limited funds, we must find alternative collective avenues to help our brothers and sisters who are underprivileged. It is for our collective good.

“In this way, the underprivileged will know that we are one; that we are our brother’s keeper and that will help social cohesion, understanding and peace. This is because home ownership gives individuals a sense of belonging and a stake in the community,” the minister said.

The Minister commended the Uba Sani-led government for its practical, inclusive and pragmatic vision for housing delivery which led to the organisation of the maiden Kaduna International Housing Exhibition.

Earlier in his remarks, Sani represented by his Deputy, Hadiza Balarabe, said the provision of affordable houses for citizens of the state was a key priority of his administration.

He said he is committed to addressing the housing deficit across the State in line with Tinubu’s “Renewed Hope Agenda.

”He said that the state government had adopted a holistic approach towards filling the identified gap through partnerships with local and international investors to address its housing deficit. He said, “Qatar Charity in partnership with the Kaduna State Government is constructing Mass Housing for the Less Privileged and Kaduna Economic City, all in Millennium City, Kaduna.

According to the governor, the Social Housing Scheme was introduced in order to provide affordable accommodation as a social service for the vulnerable populace (the low-income earners). Efficient design and construction methods, which are key indicators that drive the affordability target of the scheme, were employed.”

The governor also stated that his administration has attracted many investors (Real Estate Developers) and has partnered with them in the construction of mass housing estates across the state under PPP arrangement.

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