Financing Low-Income Housing in Nigeria: Need for Paradigm Shift
Thomas Jefferson, American President in 1785 wrote " The small Landholders are the most precious part of a state. To the American founding fathers, the combination of property and liberty was clear. Jefferson's vision was widespread ownership through the society. However, widespread home ownership cannot be achieved without robust housing finance built on mortgage finance institutions. The paper recommends that, a model which will integrate the informal finance system into the formal finance system should be used in Nigeria.