Nigeria suffers from a shortage of housing – with rapid urbanisation, a fast-growing population, macroeconomic headwinds all putting a strain on the country’s real estate sector and ability to provide adequate housing.

According to Estate Intel, 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 and this is exacerbated by the high costs of home delivery on the supply side as well as the availability and cost of mortgages on the demand side.