House price, rent soar despite govt’s schemes

Despite numerous intervention programmes or schemes initiated by the government in the housing sector, house price and rent remain high, making the country rank among the most expensive housing markets in the world with very active rental market.

There are obvious supply issues amid surging demand. The gap is so wide that a sizeable number of the country’s population struggle for space in the housing market.

Besides the Federal Mortgage Bank of Nigeria (FMBN) and the accompanying National Housing Fund (NHF) which were aimed to make housing finance accessible and affordable to…