The newly appointed administration have estimated a total national budget of N6 trillion and have proposed N433.3 billion to be allocated to the power, works and housing sectors. Leading real estate portal, Lamudi Nigeria (www.lamudi.com.ng) looks into 10 states of the Federation and how much of their state budget will potentially be allocated towards housing projects.
In the wake of President Muhammadu Buhari’s assurance that development in infrastructure will be given high priority, it is no surprise that the proposed 2016 budget for capital expenditure has risen by 20 percent since 2015.
This increase in funding allocation and attention to the housing sector of the country will hopefully bring about a much-needed influx in FDI and boost the construction sector of the country. Therefore, research into the state’s housing budget is an essential exercise to ensure that the plans of the Governors and ministers are in-line with that of the Presidency.
A look at the infograph below shows how much funding each state has proposed to allocate to housing projects.