Nasir el-Rufai, the governor of Kaduna State, claims that Nigeria needs a supportive mortgage policy to address its housing shortage.
El-Rufai revealed this information on Saturday, shortly after launching the Gombe Geographic Information Systems Service Center and breaking ground for 550 Shongo Homes and Gardens in Gombe State as part of the Family Homes Fund.
The governor of Kaduna State asserted that selling homes for between N10 million and N50 million was unsustainable and that there is now an estimated 18 million housing shortage.
In addition to emphasizing that the future administration under President-elect Bola Tinubu would guarantee single-digit interest between 15 and 20 years, he revealed that the mortgage system would allow purchasers to pay in 25 years. However, until then the issue of the housing gap won’t ever be solved.