The President of Nigeria recently signed the 2024 Appropriation bill into law thereby approving the budgetary allocations for the various ministries and government-owned entities including the Federal Ministry of Housing and Urban Development and Federal Housing Authority – both responsible for the provision of housing within the country.

According to Dataphyte, Nigeria’s current housing deficit stands at 28 million units. Furthermore, according to the 2019 Nigeria Living Standards Survey, more than 49% of urban households rent while only 32.5% of Nigerians residing in urban areas own their homes. These statistics underscore the importance of realistic measures and adequate allocation of resources to close the country’s affordable housing gap.

According to President Tinubu’s campaign manifesto, his plan for home ownership included a chart that referenced a cumulative addition of 24 million housing units by 2028 implying 4 million housing units are added every year from 2023.

 

Here’s a breakdown of Nigeria’s Housing Allocation including the achievable amount of housing units in 2024

 

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