In a recent CCTV Africa report, Akon Eyakenyi, Minister of Lands & Housing, addressed the housing crisis issue currently impacting Nigeria. There is a lack of affordable housing for families and retirees, in addition a lack of available housing within the country’s urban areas.

“The housing sector in Nigeria has taken a very important position in the present administration of Dr. Goodluck Jonathan,” Eyakenyi said. “The Nigerian population is increasing by the day — and there is such a great need for housing to accommodate.”

One of the ultimate solutions to the shortage of housing is the coupling of the Nigerian Mortgage Refinancing program and $300 million from the World Bank.