How can Nigeria solve its housing deficit

Nigeria has a significant housing deficit, with estimates ranging from 17 million to 22 million housing units needed to address the current shortfall. Here are some ways the country can begin to address this issue:

1. Increase government spending on housing: The Nigerian government needs to increase its spending on housing development and infrastructure. This could be done through the creation of housing development funds and the allocation of more resources to the Ministry of Works and Housing.
2. Encourage private sector investment: The private sector can play a significant role in housing development in Nigeria. The government can create policies that encourage private sector investment in housing, such as tax incentives and subsidies for developers.
3. Create a mortgage market: Nigeria needs a functional mortgage market to provide affordable and long-term financing for home buyers. The government can create policies that encourage the development of a mortgage market, such as the establishment of a secondary mortgage market and the provision of mortgage guarantees.
4. Implement land reforms: The current land tenure system in Nigeria is complex and often results in disputes over land ownership. The government can implement land reforms that simplify the land tenure system and provide a more secure system of land ownership.
5. Promote affordable housing: The government can promote the development of affordable housing through the use of public-private partnerships and the provision of incentives for developers to build low-cost housing.
6. Encourage the use of innovative technologies: Innovative construction technologies, such as prefabrication, can help reduce the cost of building housing in Nigeria. The government can encourage the use of these technologies by providing incentives for developers who use them.
7. Address corruption: Corruption is a major impediment to housing development in Nigeria. The government needs to take steps to address corruption in the housing sector, such as enforcing building codes and regulations and punishing those who engage in corrupt practices.