The Housing Finance Sector data for Nigeria extends back to 2006. Please click on the Research Center tab above to access data for previous years not shown.
Indicator | Data | Year | Source |
---|---|---|---|
Total population | 182.2 million | 2015 | WDI |
Urban population (% of total) | 47.78% of total | 2015 | WDI |
GDP, current prices (U.S. dollars) | 490,207 USD (millions) | 2015 | WEO |
GDP based on PPP per capita GDP (Current international dollar) | 6,108.41 USD | 2015 | WEO |
Inflation, end of period consumer prices (Percent change) | 9.55% | 2015 | WEO |
Average bank deposit rate | 9.15% | 2015 | IFS |
Lending rate | 16.85% | 2015 | IFS |
Owner-occupied units | 75.4% of total | 2010 | EFInA and FinMark Trust |
Total amount of home mortgage loans outstanding at the end of year in millions of USD: | 4,460.12 USD (millions) | 2015 | Central Bank of Nigeria |
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) | .91% | 2015 | Central Bank of Nigeria |
Typical LTV at origination | 75 | 2015 | CAHF |
Retail funding (deposits/other) | primary | 2015 | Central Bank of Nigeria |
Wholesale funding: loans from other banks or corporations | tertiary | 2015 | Nigeria Mortgage Refinance Company |
Other | secondary | 2015 | Research |
Typical number of days needed for the transfer of title | 69 | 2015 | WDI |
The Nigeria Mortgage Refinance Company (NMRC) is a private sector-driven mortgage refinancing company with the public purpose of promoting home ownership for Nigerians while deepening the primary and secondary mortgage markets. Its vision is to be the dominant housing partner in Nigeria, with a missino to break down barriers to home ownership by providing liquidity, affordability, accessibility and stability to the housing market in Nigeria.