Nigeria’s housing crisis has been made worse by the COVID-19 pandemic – with homeownership now out of reach for many people.
But for those who have the money, there is no shortage of options in a booming luxury housing market.
Al Jazeera’s Fidelis Mbah reports from the capital Abuja – in the second of our four-part series on the rising cost of housing.
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#Nigeria
All overseas Nigerians
@Biobele Nigeria is not a country but a failed state. Poverty in addition to insecurity every where
@Kingsley Kester that’s really cool, but nobody sleeps in the street in Nigeria, like what we have seen in the riches countries, USA and Europe homeless people everywhere.
@Gulam Dabi Nigeria is not a country but a failed state. For your information, Nigeria is incomperable
@Kingsley Kester i need more explanation about facts that Nigeria is a fail state?
@Gulam Dabi A country where terrorists are in control is called what? Where insecurity is the norm.. Nigeria needs to break up. I think that’s the only solution
Why are you not talking about the Nigeria problem, we are facing security big problem
@Biobele this is is a low level oversimplification of literally everything. Nevertheless the housing crisis has always been an issue in Nigeria especially in Abuja.
@Biobele you are correct
@Nze Sunday thank you, it’s sad other people don’t understand this news stations like TRT and Al Jazeera are pro islamists.
Turkey took hajia Sophia they didn’t cough, Turkey took Northern Cyprus they didn’t complain, boko haram took territories in Nigeria no problem not even news worthy but look at the way they covered Al Aqsa very well and very one-sided. The way they showed Israel in bad light they didn’t interview fairly and when Hamas did show of force after the cease fire they didn’t show it. We should be wise when watching these things
@Biobele and also USA and European countries are supporting Israel to destabilize the palastinian people in there on land, if what you are claiming is true its welcome development 🇶🇦🇶🇦🇶🇦💖💖💖
Overpopulation in Nigeria is big problem. Why people produce so many offsprings?
@Onyii Ilo advantages of having a large population, don’t be thicc, read and understand
@tugful not the point tho, people that thought like you totally wrote of India and China now look where both nations are heading, whereas look where rich nations with falling populations like Japan are heading (into obscurity)
@Biobele China have one of the lowest fertility rate in the world and more than 200 millions pensioners, India have millions of people, who live without electricity, education, healthcare…
@Biobele says a lacuna head with an archaic mentality.
@tugful as the population growth reduced what did China do? Abolish the one child policy, India is still developing but already they are a force to reckon with thanks to their population, in science, technology, business, medicine you can’t mention top 20 countries and not add India for one single reason their population, go and Google how many Fortune 500 company’s CEO’s come from India and Google how many come from Japan, Japan has a better economy, better technology, better education yet India trump’s them by a mile why? Simple, Population.
Dnt believe the hype, these houses are for kids of corrupt politicians
We in Pakistan are with you
You are not even with yourself in Pakistan.
@Saq de Coq lol lovely reply
Nigeria doesn’t have the resources for its current growth
It does, Nigeria has the most oil in Africa the 5th largest producer of oil in the world, the largest gas reserves in all of Africa, top 5 cocoa producers in all of Africa, top 5 coal producers in all of Africa, largest population in all of Africa, Nigeria has 98% fertile land suitable for farming ALL YEAR ROUND, Largest film and music industry in Africa and second largest in the world, Nigeria has gold, bauxite, iron ore, and almost all natural resources you can think of, there is currently plans for the biggest refinery in all of Africa, plans for the largest and longest gas pipeline in all of Africa sending gas from Nigeria to Morroco, largest cement manufacturer in Africa.
Nigeria has so much more potential if the government wakes up or the private sector gets good loan funding somehow there’s alot of money to be made in Nigeria.
I myself have made my business plan but I have no access to financing there are more than a million people just like me with various ideas whenever the Government fixes it’s loan facility the private sector would pick up at an even faster rate, foreign loans aren’t coming in due to fear, everyone is scared of investing in Nigeria or Nigerians which is both a good and bad thing, but mostly bad.
@Biobele just because you have natural resources laying around doesn’t mean the government will give it to its people for it to be used on infrastructure
@Josh Raleigh you said and I quote “Nigeria doesn’t have the resources for its current growth”
I listed and explained how Nigeria has more than enough resources for its current growth and you are saying it doesn’t mean it would be used for infrastructure??? Why are you shifting the goal post?
Look at Lagos and follow Nigerias Transportation minister and see all the infrastructure that’s popping up across the country thanks to resources like oil and gas.
If Nigeria focuses on other resources there is no way with more money and more resources to mine, extract, process, export and more workers needed to do all these there is NO WAY Nigeria won’t have more infrastructure.
You have no idea what you’re talking about.
Family planning. Family planning. Family planning.
How can people afford these with no proper mortgages in the system. So they can just shell $500k within a few months
Yes they can, yes they can. THIS IS NIGERIA.
Almost nobody buys house with mortgage here, they either save or just build it themselves gradually.
But certain people have $500,000 lying around in empty houses they don’t use like Politicians, footballers, musicians, yahoo boys, pastors and others
@Biobele yea same in India, my parents build a house that took few years slowly. But most people use their savings to build houses here
We don’t know what’s mortgage here. We save we build on our land and it is yours forever.
And houses don’t cost $500k like the US. My parents build nice 4 bedroom two floor house in India for just $70k, with savings
No one should be homeless, but sadly so many are. Property is just becoming more and more unaffordable. Whilst some live in palaces, with more rooms they will ever need, people suffer on the streets. So much injustice in this world. COVD19 proved that the small insignificant person, (deemed by the people in power) are the ones that keep the country, and economy thriving.
Its not the best rich or wealthy peoples faults
Those earning through corruption never face an economic crisis.
@cinnamonstar808 Thanks Professor 👏….!
Knowledge is Power!!
False just because someone is successful doesn’t automatically make them corrupt.🤣😂
Shameless thing. You are one those whom think africans poor. Go into Nigeria and you get the shocker of your life. If all these properties are bought by corrupt people, then that means half of Nigerians are government officials. We run our economy in Nigeria and not the leaders. You heard him say “There is no price control” and ” People pay cash for these properties”. Lol
That should tell you this is Money laundering….5/10 years from now the houses will be empty or tenants pay on imaginary amount as rent..
Nigeria are facing serious security challenges and Al Jazeera was just concerned about the housing, what a people
I’m telling you
Who in this world would have a sardine can as a dream home?
How do you mean? Judging houses you didn’t see well.
Double digit interest rates?? Wtf?? Interest will eat your country inside out.
US had double digits rates in the 80s. It’s not new
NIGERIA govt should tackle the current situation of Boko haram and security, Goverment that cannot secure it’s people , talkless of Government housing
@slayer of crusaders and small hat and pajeets Yes, you are the problem
@MIKE BALOGUN Leave him he doesn’t have sense how can boko haram not be a problem? Thats how this herdsmen issue got worse in the south.
@Lambo Boy BokoHarem is a scavenger group residing in a single forest in a single state out of 36 far up North away from 98% of the Nigerian population.
@Shango Thunder Im not going to sit and argue with you because i don’t know all the facts but what i do know is they were attacking abuja which is just above the South a few years ago. They retreated and went back up North but spread this has caused many indigenes to leave and be displaced persons. No where in the world is a terrorist organisation allowed free reign except for a country like Nigeria there should be no excuse they pose a security risk to Southern Nigeria and West Africa at large. If tomorrow America said well theres a terrorist group up North they don’t pose a threat do you think US citizens would take it likely?
@Lambo Boy they have been pused to zambisa forest..so lets clap for the Nigerian military
✓
What about the infrastructure though??? 🤦🏾♂️
Abuja is a new city with better infrastructure
ALERT. AMERICA. MODI ISRAIL. NEW. ATACK. ARAB GCC. PLEASE. ALERT. NEXT TARGET. GCC. MODI ISLAM. DUSHMAN
This love affair with “private sector” has got to stop.
@davis mate am not against privatisation businesses making money. However, when you make losses bear the burden not the tax payers and don’t look at the taxpayer s bailing u out of trouble.
@davis mate the truth of the matter is that most of those private businesses don’t pay living wages. Hence, those private employees ends up relying on the State for their survival.
@Olu akinwale some of this businesses pays lot of taxes and bail out often is not free….but mostly are bailed out because of the domino effect it would wreck in economy like massive layoffs or like in case of banks depositors losing money.
@Steven Thuo am afraid this is scaremongering, the reason most of these private businesses believe they can hold the state by the trough of the neck. As l mentioned earlier these companies “internalized” profits and “external” losses. Those private businesses have never paid back public money used to bail them out. We were all witnesses to how their reckless and greediness ploughed the world financial system into chaos and nearly brought the world’s financial system down with trillions paid by the tax payers to bail them out. How much of that bail out money has been paid back? I can tell you now. Zero!
Dangote cement is part of the reason why building house is expensive. That man needs to go to jail.
I love Islam iam Muslim form Pakistan 🇵🇰🤝🇨🇿
You built good roads and electricity plants source
It will continue to boom because those earning their livings through corruptions and other dubious means have the money to buy. The question is where does it leaves the poor many of whom have been made homeless to make way for the luxury homes. Pathetic to the core l will say.
Lmao not everybody that is successful is corrupt.😂
@Shango Thunder no one says every successful person is corrupt. As for Nigeria and Nigerians most successful people earned and continue to earn their wealth through corruption. That’s the truth.
@Olu akinwale stop blaming the rich
@Phoenix-King 77 read my response to Shango Thunder.
@Olu akinwale the most successful people earn from hard work and brain wrk…corrupt people like huh puppy are not relevant….my family has built over 3000 houses in Abuja and we make our money by developing estates…our customers are normal middle-class to rich business people not criminals.
These homes are not even luxury
Always thinking for themselves you could easily have house that are 30k but our people at the top are so greedy
So it’s greedy to spend your money how you want, but not greedy to expect others to take care of you?
@Willpower u r not smart. Pls remember that. People like dangote and his expensive cement are one of the reasons housing cost is ridiculous. But according to you we are bad for calling out greed. You be mumu.
@Evan O I wouldn’t say bad, I’d say “greedy”.
@Evan O if its too expensive then you can’t afford it. Stop crying in the comments
💩🇪🇦💩🇪🇺💩
more money corrupted from covid
It simply isn’t a profitable venture to build homes to house poor people. It is far more profitable to build homes of luxury for the wealthy and privileged. That alone should tell you the failures of the capitalist system
Not true, What Nigeria needs to build more of are apartments especially in highly populated areas like Lagos. That way you are only building one structure at a time with basic architecture, if they knocked down unhabitable buildings in the mainland and did this i guarantee you more people would be housed and it would look better. The problem in my opinion is people are building and buying houses or mansions taking up space and whole lot.
oi linda família
Nigeria is the world 🌍 Dangerous country
Please don’t visit to Nigeria 🇳🇬
Crime country…
Please all be careful.
“Luxury.”
They should invest in some decent architects.
@lagondo mister Boko halal😒
@juliXomo Games Where did you get the $750m story?
@Alveena Babar your r mad
Nigeria is africa biggest in economy
Nigeria is the shame of Africa.
@Abraham Tsfaye What does Ethiopia have?
Best movie industry?
Best music industry?
best banks?
big economy?
what makes it better than nigeria lol?
@Chief S As a Nigerian i cannot lie we are doing poorly in general truth be told. I took Ethiopian airlines in 2015 and my experience on the airline and airport in addis abbab was way better than what you would go through in Lagos the commercial hub of the country. Nigeria does have a thriving entertainment industry and others but in general this does not serve the public in general lets be honest. Still Ethiopia cannot compare to Nigeria don’t get me twisted but we should be ashamed of the way Nigeria is run and certain Nigerian citizens, so we can move on up.
@Lambo Boy You can be ashamed i am not
We have the Biggest economy in africa
Our music industry and our Movie industyr has made billionaires of Davido, Wiskid, Tiwa, Psquare, and many others, and created weatlh
I fly Air Peace a nigerian airline! which is on its way to be better than ethiopian airlines
Apart from an government ran airline, what else does ethiopia have?
Our banks are bigger and better than theirs
We have more industry, car manufacturing plants, refineries, start ups, real estate development than theirs
*some of these ethiopians think because they are light skin they are better than blacks* while most can’t even speak correct english
@Chief S Bro we should not have an inferiority complex, Nigeria as a whole is not doing fine lets be honest. More bad news everyday out of the country than good. Crime, lack of electricity, bad road networks, police corruption, and bad education are just a tip of the iceberg in the problems we are currently facing. Under this Buhari government Nigeria has gone down worse, im still very much a proud Nigerian and i wouldn’t trade it to be Ethiopian Herdsmen are in all parts of the country causing havoc likely backed by individuals from the north nothings is okay. The citizens are trying from start ups to everything else but some of them no dey try from voting in leaders like Buhari that have driven the country backwards to killing each other with no regards. Trust me Nigeria has the most potential in the whole of Africa but unfortunately we are nowhere near it in facts splitting the country is a topic that is being discussed as things keep getting worse. Were there calls for disintegration in 2012?
Guy go and sleep and solve your country’s problem
Luxury or no luxury always be proud of your brand and try working to improve. I love luxurious lifestyles. All thanks to crypto I just got my first Lamborghini 💝. My advice to y’all invest in cryptocurrency or gold.
My first investment with Mr Charles blake
gave me the assurance that has made me invest without the fear of losing, I got four of my friends involved with him
How can I invest in gold?
And maybe a government should help you guys a little bit more they suck
Is that why there’s so many scammers that live there
❤️❤️
Show baharia town of Pakistan
I am a yahoo boy and have already placed my down payment on one of these homes. My lover in the Netherlands wired me the money.
Sorry your are not a Nigeria and stop pretending to be a Nigeria rather stop saying rubbish about Nigerians
Non Of the African countries are important, you just can tell by how much America and Britain are spending trillions on their military defence just entirely for Asia 👍:)
‘Non of africa countries are important’ watch what always u type….rethink then type and after that ask yourself if u are okay!
@DECOLONIZED AFRICAN MELANIN MEDICINE Does it has a nuclear submarine for political strategy and determination or is it just pointless for Africa as no one is interested in it?
Money laundering at work
THE LOOTERS ARE QUICKLY INVESTING IN REAL ESTATES. DOING RIGHT THING AT WRONG TIME
DREAMING TO REST ON THEIR INVESTMENTS WHEN EDGED OUT OF THEIR CORRUPT SYSTEMS.
WHEN YORUBA NATION AND BIAFRA ARE ESTABLISHED; THEIR INSANE INVESTMENTS WILL DEPRECIATE IN VALUES.
WHILE THE YORUBA NATION AND BIAFRA WILL BE BUSY BUILDING MODEL NATIONS.
IN THE NAME OF JESUS: YORUBA NATION IS A REALITY. ALLELUIA! AAAMEN!
Cosa nostra
Like a cloud and wind without rain, so is a man who boasts of a deceptive gift.
Ugly homes that look like they were designed by a 10 year old.
@Collins Lukaho Really? That’s not true at all.
Why can’t they do like Equatorial Guinea with decent housing for the poor? What’s the point of those $500k houses if they are too pricey for the people??
Its market based and not charity!
They can have home owners building the houses themselves to bring down the cost. Nigeria government is so evil. 😢
@Evan O False; stop trying to talk about something you no nothing about. Save your tear cry baby.
@Chief S but is civilized country, the government built houses that are cheaper for middle and lower class. What Nigeria government does best is loot public money and export them to USA and UK and come back empty handed to loot more.
@Reality Stand Government are not responsible for building homes! thats a socialistic idea from the 60s
Private sector builds homes!
Please stop building houses, invest more on industry were Masses can work and earn a decent living. Emulate from the westerner.
Nigerians are not shame of there self at this age with all we have in that country we are still borrowing money from abroad shame on nigeria governmnet hausa has destroy that country
Don’t be fooled, it boomed because the corrupt politicians could not launder all their embezzled funds abroad. So yea thats all being fuelled by stolen public funds by those fraud of a politician
Not for individual is belongs to politicians greedy human beings Animal with human skin
This is simply not true and misleading. The report said there are no statistics; so how do they know the market is booming.
Anecdotally I know a lot of developers having problems moving product
Tell your developer friends to use mud bricks instead of cement so that housing cost can be significantly reduced. Mud bricks are just as strong and are better for the environment. They naturally cool and warm the house without any AC. Also tell more of your developers friends to build houses inspired by African architecture. We have so much beauty and diversity, we don’t need to be copying the west. Look at denmas Nwoko house. It’s extremely beautiful and better than most houses Nigerian elite have.
السلام عليكم ورحمة وبركاته انا اختكم ام محمدمقيمة في مخيمات النزوح عله الشريط الحدود مع تركيا زوجت شهيد وام ل 3اطفال يا اهل الخير والله وضعنا صعب يعلم الله بحالتنا وطالبه المساعده من اهل لخير وماعنا الارحمت رب العالمين الي يحب يساعدنا لوجه الله تعالى يتركلنه رقمو واتواصل معا ويتاكد من حالتنا الله يبارك فيكم يارب🤲🤲
Are you kidding me ,what private sectors have right to a estate in nigeria. Except our politicians
Luxury 🤣🤣 men please Nigerians wouldn’t know luxury if it fell from the sky and hit them on their heads…it’s always the same thing in Africa, any new property built wether is luxury or non luxury nothing lasts their , if it’s not a president putsh that will lead protesters to attack the rich it will be the people themselves not taking care of the place itself…
All the money they frund scumgeria.
Don’t cry
all the scam money !!!!
Were you scammed, oh sorry, is because you are greedy that’s why you can be scam by Petty Nigeria scammers.
Yahoo boyz tinz u know
Why are the locals not benefiting from the number of build projects? Who are the contractors employing and at what rates?
If nobody is benefiting how are these homes being financed, built, and purchased?🤪
Nigeria does not have economic crisis. That’s for developed nations. Nigeria is on a cruise📌
They keep building homes without the basic infrastructures and public amenties that addresses safety, elaborate Water drainage system , sewage management and proper city planning..Its a bad investments for those who really want to maintain the future market value of the properties. These properties will depreciate like motor vehicles the day its sold of occupied.
Everything in Nigeria is just badly runned.
It’s the government’s job to build basic infrastructure not the private sector
Abuja has all of that, stop capping
the homes in Abuja have T public amenties that addresses safety, elaborate Water drainage system , sewage management and proper city planning….
Who are those building these houses and those buying them, where did they get the money from, through embezzlement? when people are suffering, selfish human beings.
Two things yahoo and money laundering.
People should migrate to villages and make life happy.
Boko haram is there.
Salaam Nigeria from Pakistan 🇵🇰❤️
The luxury home they build is even ugly 🤣😂😂
Richer get richer poor get poorer
The rich is getting richer. Capitalist system is exacerbating the gap between the rich and poor. The wealth needs to be redistributed
It’s all corruption money from politicians.
Don’t know how I bumped onto this. All in all GREAT clip 🤩🤩🤩. I also watched those similar from MStarTutorials and kinda wonder how you guys make these stuff. MStar Tutorials also had cool information about similiar make money online things on his channel.
Nigeria is looks poor
I have been to Kenya
It’s ten times better
Lol, check Abuja, Lagos, PH
Nigeria is far better than kenya
Nigeria look poor, hmm you are funny
Electricity should be addressed first. How long is Nigeria going to rely on generators for power? Learn from Kenya 🇰🇪 with their windmills and geothermal clean energy.
Hhh
Kenyans don’t have 24/7 power either what are you talking about?
True
Nigeria don cast o
How are those houses 500k. At most 200k they are worth.
if its 500k then buy your own land build a mansion.
All stolen money from the government at the expense of poor regular Nigerians, some don’t even have a roof over their heads while you have government ppl in Abuja with 10 to 12 houses. Shame on government.
Many haters in the comment section hating on Nigerians.😂😂 You will be shocked when you get into that country. Get ready. You think its a country where they live on credit like westerners and the government controlling everything. No its not. The private sectors runs Nigeria.and as for you haters, people whom buy these properties in Nigeria pay cash for it.
A crisis is basically people losing money and very few people gaining from those losses.
Solution = 3D Print houses
Why y’all hating on all my Nigerian homes. Let them live in their nice houses
if its too expensive then you can’t afford it. Stop crying in the comments
Millions of homes for those making $2000 a year?
Apparently the government of Nigeria created 500 new government jobs which are clerical in nature and that was enough to spark a luxury housing boom.
Fake news. Where are the jobs and how can 500 jobs change anything in a country that has 35% unemployment rate? The government is the enemy of development. All they do is borrow loans from China and share most of the money. Very incomplete government. If you wanted a change what they should do is to bring federalism as against unitary system that encourages laziness where some people will fold hands and wait for money from other regions every month. Constitution of 1999 and the system of government are major part of the problem. If there is enough employment it will reduce insecurity as many will be engaged in works.
Funny, many a comment here! These are private companies investing; nothing to do with government stealing or divesting public money. Granted! There’s corruption in Nigeria, but should it be that any business people who invest should be labeled as corrupt? Or should it be that every investment in Nigeria by Nigerians must be linked to corruption? A legit industry is booming, we have to claim it’s because of government corruption. Some private business build houses, we have to complain about power that should be addressed before they can go about their construction business. These people aren’t the government, and this is not about government building houses instead of addressing power and water issues. This is about a private sector booming in spite of hurdles. Kudos to those investors, all of whom can’t be labeled as corrupt.
Double digit interest rates 🤯🤯🤯🤯🤯
It’s nigeria, don’t believe it….boko harm is ravaging the country, your investment isn’t secure, the corruption index 8s out of this world (as a non local, they’ll run circles around you.) the wealth gap is astronomical, over 30% of its population are pretty much living in slum like conditions…..
This only means if you invest only in housing you will get 500% ROI. The population in Nigeria is ever increasing and people needs to live in luxury. Poverty and insecurity is going to be there in every society but there are people who are stinkly rich.
Lifestyle of the rich only
My prince invested my money in one of these houses, it will be our love nest 💕💞💘
😂😂😂
Lol
Lmaoooo
Where you from
Yes life has to move on but security should be key before any idea comes up of these big homes
Boom boom that’s what we keep hearing 😂 wealth only circulating round few people hands while the public suffers
Nigeria is a terrible country. I would never visit Nigeria if I ever visit Africa. They do not care about the majority of their people.
Nigeria is immune to most -ve economic indices. Even d devil n Corona are baffled😁. Nigerians die hard
its all a ruse, a scam! its used to clean money 90percent can afford it, no mortage system all bullocks.
Oil rich but poor af. Something’s seriously wrong in that continent. Must be the Nigerian Prince fault…
Yes people in India are very much interested in purchasing these properties.
India will help Nigeria in building 20 million homes with modern technology. Yes with pre fabrication construction technology houses could be built in months and also 3 dimensional housing is also coming up so a lot of work to be done by the both countries.
Will someone pls explain to me how Nigeria has one of the worlds worst Human Development Index rankings yet has some very prosperous neighbourhoods. These people can comfortably send their children to Oxford etc. and when they emigrate they’re one of the most educated and wealthy migrant groups e.g United States and UK. At the same time theres overpopulation, unstable government and conflict. In the same country… So contradictory and bizarre.
Wow, finally I see the media focusing on positive in africa.
Ill never invest a dollar in that country. It is a dead nation. Hopeless nation
Luxury with out electricity lol