
Housing microfinance: Panacea for Nigeria’s housing deficit
Housing microfinance, otherwise known as microfinance for housing or incremental financing, is regarded as the application of a microfinance based approach to housing finance. While the concept ‘housing microfinance’ is relatively new in development circles, the practice is not. Access to housing and access to housing finance by low income earners is a critical development issue facing most countries around the globe. Many households in Africa are unable to access mortgage finance either because it does not exist or because it is inaccessible.