Housing challenges: Experts root for mass housing finance
http://ift.tt/eA8V8J By Kingsley Adegboye with Agency report AGAINST the backdrop of the huge capital expenditure involved in mass housing development, housing experts have said the sector requires appropriate finance, insisting that finance is a critical ingredient in housing development. This is the submission of the experts who spoke at various forums. Recently, the Managing Director,Federal Mortgage Bank of Nigeria FMBN, Ahmed Musa Dangiwa, an architect, disclosed in Abuja that meeting the affordable mass housing needs of Nigeria remains a major challenge, with estimated 17 million housing deficit in the country, which is anticipated to cost about N60 trillion. Dangiwa added that the present administration will develop a well functioning mortgage finance market that is able to attract large, long-term local and foreign investments needed to promote a vibrant, competitive, innovative and sustainable housing market driven primarily by private sector and public-private partn...