The high cost of borrowing to own a home in the nation’s mortgage market is the main reason why many Nigerians are without their own homes, JOSEPHINE OGUNDEJI writes
Nigerians’ access to mortgages and investment in real estate has been negatively impacted by the Central Bank of Nigeria’s frequent interest rate increases.
"To tame the accelerating inflation rate in the country, the Central Bank of Nigeria has hiked the interest rate from 11.5 per in April 2022 to 18.5 per cent in July this year."