Housing Reforms Must Also Address Construction Finance, Says Mixta Africa
Bennett Oghifo Mixta Africa has called for Nigeria’s proposed National Housing and Built Environment Regulation Policy and National Mortgage Industry Policy to be supported by a credible construction finance framework,
Nigeria's housing deficit, often cited in the millions of units, has long been blamed on weak mortgage penetration, high construction costs and limited access to affordable financing for developers. Successive governments have proposed policy frameworks to formalise the sector, but implementation has repeatedly stalled over funding gaps, land administration bottlenecks and the high cost of building materials, leaving much of the housing supply skewed toward high-income buyers.
Mixta Africa, a pan-African real estate developer with operations in Nigeria, is weighing in on the federal government's proposed National Housing and Built Environment Regulation Policy and National Mortgage Industry Policy, arguing that regulatory reform alone will not close the housing gap. The coverage from ThisDay and Daily Trust both centre on the company's call for a dedicated construction finance framework to accompany the policies, though neither report yet details what form such financing should take, how it would be funded, or a timeline for government action.