According to reports from PUNCH, the Minister of Housing and Urban Development, Ahmed Dangiwa, lamented that 80% of Nigerians cannot afford housing due to financial constraints.
This, he noted, is a major cause of the country's housing deficit.
Delivering the keynote address at the opening of the Kaduna International Housing Exhibition, Dangiwa stated that the issue of affordability is a key challenge that governments at all levels must address to deliver sustainable housing solutions.
Statistics show that almost half of Nigeria's population of over 200 million are poor, with weak purchasing power.
In fact, over 85% of the country's 43 million households have less than N1.1 million in purchasing power, with 40% falling into the poverty income group and 47% in the low-income group.
Only 13% of the population is considered middle class.
Against this backdrop, Dangiwa said the Tinubu administration, through the Ministry of Housing, plans to establish a National Social Housing Fund.
"Social housing is not only a necessity, it is also a security insurance for the rich and the poor," the minister said.
The minister commended the Kaduna state government, led by Governor Uba Sani, for its practical, inclusive and pragmatic vision for housing delivery, which led to the organization of the Kaduna International Housing Exhibition.
In his remarks, Sani, represented by his Deputy Hadiza Balarabe, said the provision of affordable housing is a key priority of his administration.
He highlighted ongoing partnerships with local and international investors, as well as initiatives like the Social Housing Scheme and the development of new layouts, to address the state's housing deficit.
The event also saw the launch of two social initiatives by the Kaduna State Development and Property Company - the Arewa Construction Academy and the KSDPC Housing Cooperative Society.