While declaring open a two-day National Economic Council’s retreat in Abuja, Buhari said this could only be done with external help.

READ: 'FMBN needs N56 trillion to solves Nigeria's housing needs' - ex MD reveals

According to the president, the Federal Government can provide 250,000 housing units, while the 22 APC-controlled states provide 250,000 houses.

However, the remaining half a million houses is expected to come from foreign investors and their local partners.

"Some estimates put Nigeria’s housing deficit at about 16 million units.

In our successful campaign to win the general election last year our party, the APC, promised to build a million housing units a year.

"his will turn out to be a very tall order unless the Federal Government builds 250,000 units, and the 22 APC States together manage another 250,000 units.

We invite foreign investors together with locally-domiciled big construction companies to enter into commercial housing building to pick up the rest.’’

President Buhari promised to do his best to resolve Nigeria's housing deficit.