Nigeria has a housing deficit of about 17 million units. This statistic was recorded 5 years ago.

Today, it is well over 20 million.

This is what a group of real estate agencies known as the Association of Housing Corporations of Nigeria, AHCN and the Central Bank of Nigeria plan to tackle.

The two parties have started putting a fund together to build thousands of housing units across Nigeria.

The two plan to raise about 500 billion Naira to pull this off.

The AHCN is a body with over 50-member organisations consisting of federal and state housing/property agencies, housing research institutes, mortgage establishments and private estate developers.

Also included are the Federal Housing Authority, Nigerian Building and Road Research Institute and the Federal Mortgage Bank of Nigeria.

The President and Chairman of Council, AHCN, Mohammed Adamu said findings by the association over the years showed that most prospective home seekers, who were genuinely in need of housing, do not always have enough money to get it.

Adamu, who stated this during a courtesy call to the Managing Director of the Federal Mortgage Bank of Nigeria, FMBN, Ahmed Dangiwa, noted that the association had also found out that there were many completed housing units in parts of the country lying unsold and uninhabited.