The deficit in the creation of affordable housing in Nigeria compared to the amount of people who require such housing is enormous, and as a result, millions of people in the country are still without this type of accommodation. Currently, housing units are being built at a rate of 100,000 per year, but 1,000,000 are required to decrease the current deficit of 17,000,000.
Compared to 2014, the cost of building a house in Nigeria has risen enormously; by approximately 55%. The costs of the basic materials needed for construction has inflated, with iron rods costing 100% more than they did in 2014, cement by 40%, blocks by 25% and the cost of sand and gravel also increasing by 25%. Cement prices, fortunately, are still lower than the continental average, costing US$ 5.35 per 50 kilograms.