Islamic Finance Instruments Can Help In Addressing Nigeria's Housing Deficit
With a huge population of over 160m people and a housing deficit estimated at over 20m, the Islamic Finance Instruments 'Sadaqah' and 'Waqf' have been described as veritable tools that can help address the deficit in Nigeria.
Mr. Qazeem Adebumiti, a Researcher and PhD student at Universiti Teknologi Malaysia (UTM), Kuala Lumpur, Malaysia made this point as a guest on the "Islamic Finance Weekly" anchored by Bukola Akinyele.
He said the Islamic Finance instruments can support the provision of Mass Housing that is affordable to Nigerians nationwide. According to him Nigeria at the moment is a country suffering from housing deficit and Islamic finance can provide solutions to the problem by improving the socio-economic situation at the micro-economic level.