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Nigeria

A priority country, Reall has been operating in Nigeria since 2014.

With an urbanisation rate of over 4%, the demand for affordable housing is huge. The estimated housing deficit in Nigeria stands at 17m homes, and it is estimated that the completion of at least 1m homes per year is required to bridge the housing deficit by 2033.

Reall has partnered with the Millard Fuller Foundation (MFF), where they have delivered a 212 home project on the outskirts of the capital, Abuja. In 2019, the Centre for Affordable Housing Finance found that MFF provided the most affordable house from a private sector developer in the whole of Africa, at $8,040. MFF have also instigated a relationship with Family Homes Fund, a World Bank-backed fund promoted by the government of Nigeria. The Family Homes Fund has purchased almost all constructed homes on MFF’s Grand Luvu site for provision to families on low incomes.

MFF’s relationship with Family Homes Fund has enabled MFF to fully repay all construction loans to Reall.

People Housed 417
Jobs Created 2,120
People with Improved Water 417
People with Improved Sanitation 417
Women and Children Housed 375
Number of Projects 3
Total Invested $ 4,038,818

Delivery of Homes

Houses

Basic Homes
492
Total Expected
424
Complete
68
In Progress

Client Data

Household Demographic Data
Household Size
3.00
Proportion Female
80.0
Proportion Children
20.0
Proportion Elderly
2.0

Nigeria Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
NGN 1,659,448,519
$ 4,038,818
Loans
NGN 1,601,472,633
$ 3,897,715
Grants
NGN 57,975,886
$ 141,104

Based on exchange rate on 30/06/2021

Market Shaping Indicators: Key Indicators

The lack of market intelligence and data is a key constraint undermining private sector participation and good policy engagement in affordable housing.

A joint initiative of the Centre for Affordable Housing Finance in Africa (CAHF) and Reall, the MSIs aim to bridge this gap by making key market data available to all that need it.

Displayed In

1. Land & Infrastructure

% of urban bottom 40 households without access to basic sanitation services

83.1

Bottom 40 See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2012 DHS 96.5%
Ghana 2014 DHS 93.15%
Kenya 2014 DHS 88.25%
Morocco 2004 DHS 52.05%
Mozambique 2011 DHS 95.6%
Nigeria 2018 DHS 83.1%
Tanzania 2017 DHS 37%
Uganda 2016 DHS 94.5%

2. Construction & Investment

% of urban population living in slums, informal settlements, or inadequate dwellings

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Country Year Data Source Value
Cote d'Ivoire 2018 World Bank 60%
Ghana 2018 World Bank 30.4%
Kenya 2018 World Bank 46.5%
Morocco 2018 World Bank 9.2%
Mozambique 2018 World Bank 77.2%
Nigeria 2018 World Bank 53.9%
Tanzania 2018 World Bank 40.1%
Uganda 2018 World Bank 48.3%

3. Sales & Rental

Price of the cheapest, newly built dwelling by a formal developer or contractor

2,900,000 NGN$7,651.72

Urban See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2018 Site d'annonce et promotion dans l'immobilier en Côte d'Ivoire 15,500,000 CFA$27,087.48
Ghana 2019 Damax Construction Co. Ltd 108,704 GH₵$19,621.66
Kenya 2019 Tsavo Real Estate 4,000,000 Ksh$37,037.04
Morocco 2019 Various real estate websites 250,000 DH$27,027.03
Mozambique 2016 Casa Minha 3,418,491 MZ$48,147.76
Nigeria 2019 Millard Fuller Foundation; Shelter Origins 2,900,000 NGN$7,651.72
Tanzania 2018 CAHF 37,966,107 TZS$16,508.58
Uganda 2019 Various property developers 125,000,000 UGX$34,097.11

3. Sales & Rental

% of urban bottom 40 households that rent their dwelling

N/A

Bottom 40 See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire N/A
Ghana N/A
Kenya N/A
Morocco N/A
Mozambique N/A
Nigeria N/A
Tanzania 2017 National Bureau of Statistics 8.97%
Uganda N/A

3. Sales & Rental

Number of residential mortgages outstanding

32,260

National See all MSI countries
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Country Year Data Source Value
Kenya 2019 Central Bank of Kenya 27,993
Nigeria 2019 NMRC 32,260
Tanzania 2019 Bank of Tanzania and Tanzania Mortgage Refinance Company Limited 5,460

5. Enabling Environment

Ease of Doing Business index rank: Global

131

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2020 World Bank 110
Ghana 2020 World Bank 118
Kenya 2019 World Bank Ease of Doing Business 61
Morocco 2020 World Bank 53
Mozambique 2019 World Bank 74
Nigeria 2020 World Bank 131
Tanzania 2020 World Bank 141
Uganda 2020 World Bank 116

6. Economic Environment

GDP per capita

659,159 NGN$1,739.21

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2018 World Bank 1,024,171 CFA$1,789.82
Ghana 2019 World Bank 11,489 GH₵$2,073.83
Kenya 2018 World Bank 173,272 Ksh$1,604.37
Morocco 2018 World Bank 30,725 DH$3,321.62
Mozambique 2018 World Bank 30,772 MZ$433.41
Nigeria 2018 World Bank 659,159 NGN$1,739.21
Tanzania 2018 National Bureau of Statistics; World Bank 2,297,020 TZS$998.80
Uganda 2018 World Bank 2,357,327 UGX$643.02

7. Demand

Population size

190,873,311

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2017 World Bank 24,437,469
Ghana 2019 World Bank 30,417,856
Kenya 2017 World Bank 50,221,473
Morocco 2017 World Bank 36,471,769
Mozambique 2018 World Bank 29,495,962
Nigeria 2017 World Bank 190,873,311
Tanzania 2019 World Bank 58,005,463
Uganda 2017 World Bank 41,487,000

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Data last updated on 04/08/2021