• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Monday, July 14
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»News»Nigeria News»Housing Development A Critical Component Of Economic Growth – CBN
Nigeria News

Housing Development A Critical Component Of Economic Growth – CBN

By orientalnewsngSeptember 20, 2016No Comments1 Min Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Image result for Godwin Emefiele
Yemisi Izuora

The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele,has identified housing as a major component of economic development which he said is capable of growing the Gross Domestic Product (GDP).

The governor in his remark at the opening ceremony of the 32nd Annual Conference and General Meeting of the African Union for Housing Finance (AUHF) in Abuja observed that non-availability of long term capital to boost mortgages stands as obstacle to the development of the country’s housing market.

He added that the housing sector currently contributes less than one percent to the nation’s GDP while the housing market in the United States represents 80 per cent of the country’s GDP.

AUHF is a 55-member association of mortgage banks, building societies, housing corporations and similar organisations working on the mobilisation of funds for shelter and housing on the African continent.

The CBN governor, who was represented by CBN’s Director, Other Financial Institutions Department, Dr Ahmed Abdullahi, lamented that Nigeria was lagging behind in comparism with other African housing markets, adding, “You will find out that the market is less developed because the contribution of housing market to the GDP is less than one per cent,”.

Share this:

  • Share
  • Click to email a link to a friend (Opens in new window) Email
  • Tweet
  • Click to share on Reddit (Opens in new window) Reddit
breaking featured Housing Development A Critical Component Of Economic Growth - CBN
orientalnewsng

Related Posts

Nigeria Declares Tuesday Public Holiday To Honour Former President Buhari …FEC Meeting Deferred

July 14, 2025

Tinubu Shocked Over Buhari’s Death 

July 14, 2025

Muhammadu Buhari (1942–2025): Life and Death 

July 14, 2025

Leave A Reply Cancel Reply

2025 OrientalNews Conference

0
Years
:
0
Months
:
0
Days
:
0
Hrs
:
0
Mins
:
0
Secs
The latest
  • Nigeria Declares Tuesday Public Holiday To Honour Former President Buhari …FEC Meeting Deferred
  • Commissioner for Insurance Mourns Late President Muhammadu Buhari
  • Woodhall Capital, Polaris Bank, UK & Lagos State Launch ₦1.5B Fund to Scale Nigeria’s Creative Economy.”
  • President Tinubu Eulogizes Soyinka On Birthday 
  • Sanwo-Olu Mourns Awujale, Commiserates With Ijebu Indigenes
  • Lagos State Governor Mourns As Buhari Dies 
  • Minister Of Police Affairs Mourns Buhari
  • Heirs Insurance Group Gross Premium Written Hits ₦61 Billion 
  • FIRS Hosts Conference on Illicit Financial Flows
  • NCS Graduates Senior Officers In NIIA
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2025 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.