How would you assess the progress Nigeria has made in addressing the housing deficit?
After a boom period marked by high oil prices and double-digit growth, Nigeria’s real estate sector was significantly impacted by the country’s economic downturn, with growth dropping off in 2015 and 2016, and remaining subdued in 2017 and early 2018. With some high-end office and residential projects stalled, developers are increasingly...
Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.
The Public Authority for Housing Welfare (PAWH), responsible for building towns, neighbourhoods and homes for Kuwaitis, is spending almost KD1bn ($3.3bn) per year on new developments, aiming to hand over 36,000 residential plots in 2017. Generous government-backed instalment loans are being extended to enable citizens to build homes on their...
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