'68 million Nigerians are either improperly housed or not housed at all', MD says

The Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Ya’ukumo, is revealing details about the nation's true statistics on homelessness.

At a meeting by the Initiative for Leadership and Economic Watch in Nigeria, he revealed that 68 million Nigerians are homeless.

“A figure has always been reported in the media with regards to housing deficit in Nigeria that ranges from 17 – 20 million, as stated in the World Bank World Habitat Report of 2007. If you relate it with average Nigerian family of four and apply it with the number of deficit you have about 68 million people either improperly housed or not housed at all.

“So when the NHF Act was enacted 23 years ago, the funding window was divided into four-collection from workers; banks are supposed to give a percentage of their total portfolio; the insurance companies ought to contribute a percentage of their life and non-life insurance scheme. So, it’s the responsibility of the people to ensure that government agencies complied with the law.”

READ: National Insurance Commission collaborates with FMBN to solve Nigeria’s housing deficit

Despite the hopeless numbers, he urged Nigerian stakeholders to form partnerships in order to stop this menace.

Mr Ya'ukumo said that the bank is committed to reducing the high rate of homelessness in Nigeria.

This is evident in all the FMBN links below.

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