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Effects of the recession and population increase on access to housing in Nigeria.

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Since the current recession in Nigeria was officially declared in 2016, the economy has faced two particularly negative economic indicators– rising prices and low rates of employment. These will have devastating effects on many sectors of the economy for many years to come and housing will be one of the major ones affected as unemployment and high costs of home ownership are the chief reasons for homelessness worldwide. In fact, the Nigerian housing sector has been lagging behind many similar middle income economies since the 1980s and the recession is likely to have a more jarring effect on this sector compared to others unless economic planners take specific precautions to prevent this trend. In addition to the recession, Nigeria is also experiencing an increase in population growth and urban sprawl that is likely to further exacerbate the current housing problem. The current 2016 budget provision of ₦40 billion to provide 1 million units to counter an estimated 17-million-unit housing deficit is in no way adequate to face this challenge especially as the estimate is likely to increase greatly in the very short run.

Russia experienced a similar contraction in the size of its economy in its 1998 financial crisis along with a temporary increase in the population growth rate in the early 2000s and these factors directly led to a depression in the housing market during the same period. The increase in crime rates and corruption during this period was linked to instability and the poverty that a society experiences when its citizens lose the most important asset for most family units – housing. In comparison, the Nigerian is facing a similar situation. The Nigerian population has been growing by a steadily increasing rate as infant mortality continues to drop mainly due to the attainment of middle income status and global interventions such as the Millennium Development Goals and Sustainability Development Goals that continue to propel worldwide development measures.

This growth will inevitably come with increased housing needs especially as the youth age group – 18-34 – become the largest and the group that is also most likely to seek housing as individuals or to start out families. In developed countries like the U.S. and most of Europe, the 65 and older age group (also called baby boomers) are becoming the largest age group and this will lead to a contraction in the demands on the housing market as more elderly citizens opt to sell their homes and live in assisted living with other members of their age group. Nigeria’s case will be the reverse of this trend and it would be wise to consider adopting some of the policies that these countries adopted when the baby boomer generation was still in its youth and the dominant age group in those populations.

One of such policies; which will bring the finance ministry, agencies and private sector institutions to the table in the provision of increased access to finance to meet the excessive demand from Nigeria’s young population; is a shift from public housing to public-private arrangements. This was the course taken in the U.S. in the 1960s just as its first crop of the massive baby boomer generation i.e. those born in 1946 became young adults and started to join the housing market. The focus should be on providing this financing for housing through the private sector specifically for low income and middle income households. The main means of financing this would be indirectly by providing low interest loans to housing developers to construct and maintain low cost housing or directly by providing low interest mortgages to households that allow longer repayment time lines i.e. 20 or more years.

While some noteworthy schemes have started to involve public-private partnerships in provision of financing for the housing sector, this is a potentially lucrative business that has been poorly explored so far. It becomes even more important to explore these possibilities when the social benefits are considered which would include reduced homelessness and crime as well as the many indirect results stability will have on children including improvements in education and health.

Health and Food

Avoid These Nigerians Food To Burn Stubborn Belly Fat (Video)

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Being overweight or obese can be detrimental to your health. It is not advisable to have excess fat in the abdominal cavity because it can lead to some health issues. Getting your dream body will not be easy and you need to make some sacrifices to your diet. You will also need to turn a blind eye to some fatty foods.

If you’re ready to get rid of the belly fat, then stay put as Information Nigeria brings you some important tips that will help.

1. Avoid sugar and carbonated drinks

Did you know that consuming sugary substances like coke, fanta can lead to weight gain and a number of health problems like high blood pressure?. This is due to the high fructose content found in added sugars. Taking sugar-filled drinks may slow your metabolism and this in turn can make it harder for your body to burn fat. Fructose can only be metabolized by your liver. When you consume too much, you push your liver to its limit and it becomes overloaded, then it turns the fructose into fat and it ends up getting stored in your belly. To avoid putting yourself from risk, you should cut back on foods and drinks that contain huge amounts of sugar.

 

2. You also have to forgo junk foods like meat pie, cakes, rolls, candies, burgers, ice cream and cookies. You also need to do away with heavy foods like eba, akpu, pounded yam, rice among others. Switch up your eating habits and opt for a more balanced-diet if you want to burn your belly fat. Avoid consuming refined carbs like bread, pizza, potation chips etc. You should also stay away from processed and heavy foods because they contribute to stubborn belly fat. You should choose to eat proteinous foods like fish, eggs, and milk. starch contains fat, sugar and salt. They help a person feel fuller so you don’t end up looking for something to munch on after eating. It basically keeps hunger at bay.

3. Eat the right amount of fruits, vegetables, fibrous foods and whole grains – You can add vegetables, fruits and whole grains to your weight loss diet. They provide essential vitamins, minerals, fiber and other substances that are good for your body. Examples of fibre rich foods include; beans, broccoli, avocados, apples, oatmeal brown rice and whole grain bread.

4. Try to incorporate exercise into your daily or weekly routine – Exercise helps to speed up your metabolism and helps you shed weight. The bitter truth is that wearing just waist trainers and staying put in one position will not make you lose that stubborn belly fat. You should hit the gym.

5 Reduce alcohol intake – Excess intake of alcohol also leads to a host of health problems especially the build-up of fat in the belly area. Have you ever noticed that those who drink alcohol, especially men, often develop ‘pot-bellies’. Alcoholic drinks like beer provide your body with calories and very little nutrients. It can also increase your appetite. Replace the alcoholic drinks with water or alternate with low calorie, non-alcoholic beverages. Too much alcohol can cause liver damage and other serious health problems.

6. Try out apple cider vinegar – Apple cider vinegar is made in a two-step fermentation process. It is obtained from apples that have been crushed, distilled and fermented. Acetic acid is the main active component of apple cider vinegar. It is safe for consumption in small quantities and can be taken as a supplement. Do not also consume it straight from the bottle or in its pure form. Add 1 to 2 tablespoons to water before you drink. You can also add honey or lemon. It is best to drink it before your meals. Research shows it has many health benefits, such as lowering blood sugar levels.

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Entertainment

Williams Uchemba And His Wife Exchange Wedding Vows In Lagos (Video)

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Williams Uchemba and his wife, Brunella Oscar

Williams Uchemba and his wife, Brunella Oscar

Popular Nigerian actor, Williams Uchemba and his wife, Brunella Oscar have officially solemnized their union.

The couple finally exchanged their wedding vows at Dominion city church in Lagos state.

The beautiful wedding ceremony was reportedly officiated by the founder of the church, Dr. David Chukwudi Ogbueli alias Papa Eagle.

Celebrities, fans and well-wishers poured in congratulatory message for the couple after photos and videos from the ceremony hit the internet.

The actor wore a sleek tuxedo, while his bride,  wore a lovely white gown.

Read Also:Actor Williams Uchemba Set To Walk Down The Aisle With Mystery Woman

Watch the videos below:

https://twitter.com/gregorogholi/status/1330121905387540483?s=21

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Entertainment

Actor, Model, Comedian, Philanthropist… Meet The Latest Groom, Williams Uchemba

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Williams Uchemba

Williams Uchemba

Williams Uchemba, who was born on October 22, is an actor, motivational speaker, model, comedian, entrepreneur and philanthropist. The Abia-born thespian graduated with a Bachelor’s Degree in International Relation from the University of Nigeria, Nsukka in Enugu State.

Uchemba began his career in the early 2000s as a child actor and came into the limelight in 2001 after appearing in the Nollywood blockbuster movie, “The Journey of the Dead” along with Olu Jacobs, Ramsey Noah, and Pete Edochie.

Since then, the multi-talented actor never looked back as he has gone ahead to feature in more blockbuster movies like Sugar Rush (2019), Merry Men 2(2019) and Story Story: The African Rideshare (2018). He is the recipient of several awards.

The actor adopted an 18-year-old furniture maker in June and he promised to sponsor his education. He recently got married to his longtime girlfriend, Brunella Oscar at her hometown, Alor in Anambra state. The actor’s wife, Brunella opened up on their love story with Wedding Digest Naija and she disclosed that she made the first move. According to the English trained medical doctor, they both met on Facebook after she sent him a message.

 

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