‘Housing deficit may increase to 25m by December’

If concerted efforts are not urgently made to address Nigeria’s housing deficit, which has continued to increase astronomically, it may grow to 25 million by the end of this year.

The chairman of the organising committee of the Real Estate & Construction Expo tagged ‘RECON Expo 2021’, Somadina Anene,  said this at a press conference in Abuja on Thursday.

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Anene, who is also the vice president of the Abuja Chamber of Commerce and Industry, noted that the housing deficit, which stood at 17 million about four years ago, had continued to increase due to high cost of building materials, cumbersome land administration system, the high-interest rate on loans, among others.