Nigerian Stakeholders Disappointed with N105bn Housing Budget Amidst Rising Costs

The Nigerian government's 2026 budget allocated N105 billion to the Federal Ministry of Housing and Urban Development, a mere seven percent increase from the previous year. However, stakeholders, including Festus Adebayo, Executive Director of the Housing Development Advocacy Network, criticize the budget as insufficient to tackle Nigeria's housing deficit.

The budget includes allocations for housing projects like the Renew Hope Agenda Housing Scheme, ongoing projects like the National Housing Program, and infrastructure projects in various states. Adebayo highlights the need for increased funding, as high building material costs and land access challenges contribute to a growing housing crisis.

Vice President Shettima previously emphasized the need for N20 trillion to address the housing deficit. The budget's focus on housing remains minimal, with concerns over affordability and accessibility for low-income earners in urban centers.