Bridging The Housing And Urban Development Divide

Bridging The Housing And Urban Development Divide

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Summary

The housing sector has consistently played a pivotal role in the economic fortune of nations. In advanced countries such as the United States of America, the industry contributes about 16 percent to the Gross Domestic Product (GDP) (US Bureau of Economic Analysis, 2024). However, this figure is less than 6 percent in Nigeria (National Bureau of Statistics, 2024). While no singular sector has as much associated value chain impact as Housing and Urban Development, the sector appears weak. In 2021, the World Bank estimated that Nigeria’s housing deficit stood at 15.56 million units (Behr et al., 2021).

Source: The Nigerian Economic Summit Group

Published: 2024

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