Why Nigerian mortgages can’t help with your home purchase
Nigerian mortgages. Source: Stears Business

"Someday soon, I'd like to own a small slice of the earth, where I can lay my head at night and build a future for my family. It will save me from constant and sporadic rent increases and contribute to my growing investment list".

As a senior-level civil servant in Nigeria, this quote is one of Dr Mberekpe's short to medium term wishes. Most of my friends and working-class Nigerians I've met can relate to her vision—to own a refuge—a sanctuary—something that every human being needs to feel safe and secure.
 

Why owning a home is difficult 

However, owning a home in Nigeria is not easy. Affordability prevents people from buying or building houses, especially in urban areas where people are more likely to find better job opportunities.
 

Continue reading this story

Not ready to subscribe? Register to read a selection of free stories

Adesola Afolabi

Adesola Afolabi

Read Latest

Global gas crisis derails Africa's transition to clean energy

PREMIUM - 27 OCT 2021

The secret behind Tomato Jos’ 10x tomato yield

PREMIUM - 26 OCT 2021

NFTs can give Nigeria’s digital art players a big break, but the costs are steep

PREMIUM - 25 OCT 2021

The CBN is hurting the naira, here’s what they should do instead

PREMIUM - 22 OCT 2021