Build for Nigeria is a pro-poor housing program designed to address the escalating housing deficit (especially in the low-income bracket and the informal sector),worsening tertiary students’ hostel accommodation in Nigerian Public Universities, and the urban housing crisis in Nigeria.
The program which is a combination of demand and supply side solution have the capacity to move the Nigerian housing situation from her current state of huge housing deficit to housing surplus within a record time. This program was developed as an implementation strategy of a Pro-poor PPP housing framework developed through a doctoral study conducted at Leeds Beckett University, United Kingdom.
The key objective of BFN is to harness the opportunities in the third sector and raise pool of equity based fund that would serve as a lending basket to enhance access to suitable housing finance for the low-income in the informal sector. The key concern here are the strategies and suitable funding source for the implementation of social housing for the poorest groups, the provision of decent and affordable hostel accommodation for indigent students in Nigerian tertiary institutions and implementation of integrated slum upgrade program in major cities and towns in Nigeria.
The unique contribution of this new thinking is that the proposed framework is pro-poor designed and is self-funding. It does not require funding from the government or commercial private sector to operate.
The program uses micro finance-HMF and cooperatives systems to directly reach the poor and low-income in the informal sector who constitute the large percentage of those in critical housing need. Implementation of this program will create over 500,000 direct and indirect jobs at the start and much more in the second year of its implementation. Also, it is expected that the contributions of this new approach will improve the quality of graduates from Nigerian Universities leading to a crop of better leaders and thinkers, improved creativity and productivity amongst the workforce, better standard of living, improved GDP and reduced crime rate.
For more information, please visit www.buildfornigeria.com