Rather than taking out all these loans to meet recurrent costs like salaries, it would make more economic sense for Buhari to approach the World Bank and IMF for cash to fund housing

Ayo Akinfe

[1] Given that there are 200m Nigerians with about 50% of them being 18 and over, we should have a 20-year plan to build 40m housing units over the next 20 years

[2] Of these 40m, the federal government will build at least 5m housing units in Abuja and Lagos each

[3] All 36 state and the 774 local governments must build houses as a matter of law

[4] Each state must build at least 10,000 housing units a year

[5] At least 50% of all these houses must be social accommodation for letting

[6] State and local governments will be allowed to run housing corporations

[7] State and local governments will also be allowed to enter into public-private partnerships with private companies

[8] Private companies who build in excess of 1,000 units annually will get a one year tax break

[9] Nigeria’s Federal Mortgage Bank will offer 25 year single digit loans to buyers

[10] State and local governments who build more than 50,000 housing units a year will get a federal grant