Economic and Financial Review


Central Bank of Nigeria


Housing Finance, Mortgage Finance, Housing, Nigeria


The article examines the dimension of housing deficit in Nigeria, assess government intervention in tackling the problem of house shortages and proffer solutions that can help reduce the deficit considerably. Basic conceptual issues relevant to housing deficit in Nigeria is first discussed. These issues include: housing, housing deficit, urbanisation, and housing policy. This is followed by an examination of the current level of housing deficit in Nigeria which put existing housing stock at 23 per 1000 inhabitant; housing deficit as at December 2018 at 20 million units (15.0 per cent increase); N21 trillion required to finance the deficit. A look at past and present housing policies and programmes in Nigeria with focus on four periods of government intervention. These include the colonial, post-independence, second civilian administration and post second republic periods till the present date. The article then highlighted key issues/challenges affecting affordable housing delivery in nigeria to include: paucity of long-term funds; housing finance; rural-urban migration/ urbanisation. On the way forward policy options are suggested to include: redefinition of the role of government; policy and regulation; financial sector reforms; capacity building and knowledge gap; urban planning; government involvement. The article concludes by stressing the need for: creating an enabling environment for the housing; strengthening the coordination among public institutions and government ministries that play a crucial role in housing, including ministries of finance; and development partners and the private sector to join the government to tackle the crisis.

Author Bio

Dr. Emmanuel Abole Moore is the Director General, Economic Thinktank Centre Limited, Lagos.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Moore, Emmanuel Abole (2019). Addressing Housing Deficit in Nigeria: Issues, Challenges and Prospects. CBN Economic and Financial Review. 57(4), 201-222.



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