• Business - Economy
  • Updated: September 26, 2023

HDAN Tasks CBN Governor On Mortgage System Development

HDAN Tasks CBN Governor On Mortgage System Development

A leading and pioneer non-governmental housing promotion group in Nigeria, Housing Development Advocacy Network (HDAN) has called on Olayemi Cardoso, the new  Central Bank of Nigeria Governor, to prioritise mortgage system development on his agenda.

This was revealed in a statement released by HDAN’s Executive Director and Convener of the Africa International Housing Show, Festus Adebayo on Sunday in Abuja.

Adebayo urged the new CBN governor to also prioritise housing, while charging him to ensure that he uses housing as a tool for economic development, especially for job creation for the unemployed youths in Nigeria.

According to Adebayo, if the new CBN governor supports housing development, it will serve as a multiplier effect on the economy.

Speaking on the fluctuating exchange rate, he drew the new CBN governor's attention to how it affects the prices of building materials in the construction industry.

"The problem of affordability has increased. It is time to encourage local production of most of the housing materials. We are also calling on the new CBN Governor to support the initiative of the new minister of housing in providing credible housing data", said Adebayo

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