‘Tenants spend over 60% income on housing rent’

This year’s edition of the annual Abuja Housing Show (AHS) has come and gone with the housing sector stakeholders leaving in its trail a robust and far-reaching decision on how to move the housing sector forward.

In a communiqué issued at the end of the 10th edition of the show entitled: “Expanding Access to Affordable Housing in Africa’’ the participants observed that there is the growing need to expand access to housing in Nigeria and Africa and that the implications of the high deficit in housing stork is that tenants now pay over 60% of their disposable income on housing instead of the 20-30% advocated by the UN.

They also called for effective mortgage system with indigenous technical inputs and private participation, noting that there are serious barriers to housing provision in Nigeria and there is the need for proper amendment of the laws and the constitution in this regards.

Daily Trust, July 25

 

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