• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Diaspora

Why Nigeria should start taxing vacant houses – UN  

Chidinma Nwagbara by Chidinma Nwagbara
September 25, 2019
in Diaspora, Politics
Why Nigeria should start taxing vacant houses – UN , Leilana Farha
Share on FacebookShare on TwitterShare on Linkedin

The United Nations (UN) has advised the Nigerian Government to start taxing vacant houses in the country.

Speaking at a news conference in Abuja, UN Special Rapporteur on the Rights to Adequate Housing, Leilana Farha said there was a need for the Nigerian Government to address housing challenges in the country by imposing vacant home tax on citizens.

Farha expressed concern over human rights crisis presented by poor living conditions in Nigeria’s informal settlements, saying the informal settlements house about 69% of the urban population.

RelatedStories

UN Official calls for $2.4 trillion climate funding in developing nations

UN launches $29 billion appeal as funding crisis stalls humanitarian efforts globally 

June 16, 2025
Sterling Bank, Peerless, AfriGO, and NIBSS launch independence reward program for Nigerian service providers

FG seeks UN intervention amid Israel-Iran conflict escalation 

June 14, 2025

She further stressed that there was an estimated housing shortage of 22 million units in Nigeria.

[READ MORE: 10 Nigerian companies pay a combined N187.9 billion taxes in first half of 2019]

Farha explained that most residents in Nigeria’s ballooning informal settlements live without access to even the most basic services, like clean pipe-borne water, emphasising that the residents lacked security of tenure, forcing them to live in constant fear of being evicted.

Farha’s words: “My 10 days fact findings visit to Nigeria has presented an economic inequality in the country, which has reached an extreme level and is playing itself out clearly in the housing sector.  

“At the same time, newly built luxury dwellings are springing up throughout cities and made possible often through the forced eviction of poor communities. These units do not fulfil any housing need, with many remaining vacant as vehicles for money laundering or investment.”  

What you should know: Presently, Nigeria’s housing deficit is about 22 million units, and for a country with a population of nearly 200 million people, it will require a minimum of an additional 2 million housing units per annum for 10 years.

[READ ALSO: Tax defaulters: Firms can challenge FIRS in court as deadline approaches]

The Nigerian government, however, estimated that the housing sector would need about $400 billion investment over the next 25-30 years to resolve this deficit. On the other hand, the World Bank said bridging the deficit would cost the country about N59.5 trillion, which further tallies with the estimation of the Federal Mortgage Bank of Nigeria which puts it at about N56 trillion.

 


Follow us for Breaking News and Market Intelligence.
Tags: Federal Mortgage Bank of NigeriaLeilana FarthaUnited Nations
Chidinma Nwagbara

Chidinma Nwagbara

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - chidinma.nwagbara@nairametrics.ng

Related Posts

UN Official calls for $2.4 trillion climate funding in developing nations
Business News

UN launches $29 billion appeal as funding crisis stalls humanitarian efforts globally 

June 16, 2025
Sterling Bank, Peerless, AfriGO, and NIBSS launch independence reward program for Nigerian service providers
Business News

FG seeks UN intervention amid Israel-Iran conflict escalation 

June 14, 2025
Federal Mortgage Bank of Nigeria records N103 billion National Housing Fund collection in 2024 
Real Estate and Construction

FMBN releases N46.9 billion for Renewed Hope City projects in FCT, Lagos to address Nigeria’s housing deficit  

May 27, 2025
Access bank
Financial Services

Access Bank reports N289 billion in mortgage loans, 2.3% of loan portfolio 

May 18, 2025
UN seeks $910 million for humanitarian efforts in Borno, Adamawa, and Yobe states in 2025
Economy

UN budget crisis leads to 20% staff cuts in Nigeria, eight other countries

April 13, 2025
UN Official calls for $2.4 trillion climate funding in developing nations
Health

Global aid cuts could reverse progress in reducing maternal deaths – UN warns  

April 7, 2025
Next Post
World Bank, Focus on lifting people out of poverty - World Bank tells FG , World Bank, IFC to assist in solving Nigeria’s infrastructure deficit , EXCLUSIVE: World Bank tasks developing nations to tap opportunities in GVCs, Warning signs: Nigerians living in extreme poverty might increase by 30 million – World Bank, US, China and UK’s protectionism ambition to affect Nigeria’s export, FDI , Terrorism bane to Nigeria's Agric development - World Bank

World Bank, IFC to assist in solving Nigeria’s infrastructure deficit 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • President Tinubu summons emergency FEC meeting to honour late Muhammadu Buhari 
  • Africa needs gas as a transformational fuel for development – Sahara Group 
  • FG to pilot 6-month training for 3,000 artisans in 10 construction trades across 3 states  

Follow us on social media:

Recent News

President Tinubu appoints 6 Chief Medical Directors for federal hospitals on 4-year terms 

President Tinubu summons emergency FEC meeting to honour late Muhammadu Buhari 

July 13, 2025
Africa needs gas as a transformational fuel for development – Sahara Group 

Africa needs gas as a transformational fuel for development – Sahara Group 

July 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics