Our objectives is to bring Nigerians Affordable Housing
NMRC Apps – Get our latest thinking on your iPhone, iPad, or Android device.
Note: Construction, Real estate and GDP Growth rates were derived courtesy of National Bureau of Statistics published data as part of its reports covering the period of Q1 2016 – Q3 2021
Real Estate Market Update: Private developers in Nigeria have made modest efforts to build homes over the past decade, as a fast-growing population and a surge in migration from rural areas to the cities puts a squeeze on the country’s housing supply. However, the mix of massive demand, high construction costs and poor market research by developers has resulted in a wave of new two- and three-bedroom houses that few people in Nigeria need or can afford. According to the Centre for and Sustainable Development, 60% of Nigerians are under the age of 40 and unmarried, this insight according to the Institute should move developers away from production of duplexes. Experts have also noted that Nigeria’s affordable housing push has led to a boom in new homes, but high construction costs and a lack of development tax has led to the development luxurious and unaffordable house types that that continue to elude first time home buyers.
Impact of COVID-19 Nigerian Households: The recently released WorldBank report titled, “COVID-19 in Nigeria: Frontline Data and Pathways for Policy”, draws on innovative sources of high-frequency data, namely, the Nigeria COVID-19 National Longitudinal Phone Survey, to inform the choices that Nigeria now faces. The report states that COVID-19 has continued to threaten food security in Nigeria, as households and firms are yet to recover from the devastating impact of the pandemic.
FEC Approves 2021-2025 National Development Plan: The Federal Executive Council presided over by the Vice President of Nigeria has approved the 2021-2025 National Development Plan (NDP). The NDP is a successor programme to the Economic Recovery and Growth Plan (ERGP)
Federal Govt Commences Online Sale of Housing Units: The Federal Government opened an online platform for its National Housing Programme (NHP) effectively paving the way for the sale of over 5,000 housing units in 34 states across the country. The Ministry of works and housing, stated that the new platform would help with home ownership and rental plans in both urban and rural locations
AMCON Empowered to Sell Debtor-Firms: The President, has signed into law the Asset Management Corporation of Nigeria (Amendment) Act, amending the AMCON Act No.4, 2010. The development means AMCON has now been empowered to take possession, manage, and sell the assets and property of its bad debtors.
Kindly enter your details below and we will call you back.
Fill the form with correct details.
Kindly enter the details below and we will be in touch.