The Chief Executive Officer of Nigerian Mortgage Refinance Company (NMRC), Prof. Charles Inyangete has disclosed that about two-third of Nigerian population would need affordable housing by 2050.
This is even as he revealed that Nigeria, South Africa, Egypt and Kenya needed about 25 million affordable housing for its population saying that 235m people live in substandard housing worldwide.
He stated this in Abuja yesterday while briefing newsmen on the forthcoming African Union for Housing Finance (AUHF) conference in collaboration with NMRC, scheduled to take place in Abuja from 14th to 16th September with the theme,”Housing and Africa’s Growth Agenda”.
Inyangete noted that the extent of inequality created by the crisis of affordable housing on the African continent is too high a price stressing that there is a need to find solutions to providing access to sustainable affordable housing finance.
He noted that the company is responding to its vision to be the dominant housing partner in Nigeria by providing liquidity and access to affordable housing finance in Nigeria.
According to him, ‘‘For housing to be affordable, we don’t need to build with imported materials but to look inward and patronise locally made building materials.’’
He said this would lead to generation and creation of employment opportunities in the country.