Aminat Yahaya —
The Nigerian government has in newly released National Housing Strategy Framework document, gotten from the Ministry of Works and Housing, said that its citizens will no longer spend more than 33 per cent of their annual income on yearly rent and mortgage costs, in a bid to address housing affordability issues in the country.
This it said would aid the electorates in attending to other basic needs of the home, despite living in decent affordable houses.
According to the ten-year strategic document, the goal will be achieved by harmonising all existing housing initiatives, improving land administration and titling, lowering housing costs, and creating a housing assistance model to meet the needs of social housing.
“Nigerians deserve standard housing which is a right as espoused in the Universal Declaration of Human Rights and Inter Covenant on Economic, Social and Cultural Rights, part of the document said.
“To this end, Nigeria’s vision for housing is to ensure all Nigerians poor alike, occupy standard housing units. This implies that Nigerians will be able to buy or rent housing units without having to compromise on other important needs required for adequate living in society.
“Furthermore, these houses will conducive and comfortable for human occupation.
“This implies that no Nigerian should spend more than 33.00% of their annual disposable income on remortgage payments. This ensures that the individual or household can afford to maintain a decent standard of living in other housing areas”, it added.
Further, it stated that quality housing for all Nigerians must meet the minimum building and design standards as specified in the Nigerian Building Code and be in compliance with UN Habitat’s living conditions, adding that the housing supply should be tailored to meet the needs of Nigerians across income levels, age groups, and locations, resulting in better outcomes for all.