It said this would help citizens to buy or rent housing units without having to compromise on other important needs required for adequate living in society.
This was disclosed in the newly released National Housing Strategy Framework document obtained from the Ministry of Works and Housing.
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. Part of the document read, “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. 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.
“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.“
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