Many Nigerians Can Afford Homes by Prioritising Spending, Ojiribe Says

Raphael Ojiribe, chairman and CEO of Raphmaths Estates, says some Nigerians who consider themselves unable to afford a home could improve their chances of ownership by changing their spending priorities and using payment plans. He points to young people spending about ₦15 million on cars instead of investing in land. Ojiribe says plots at the company’s Sea View Estate in Awka were launched at ₦15 million in February and now ask for ₦25 million to ₦30 million. He acknowledged that incomes, land prices, mortgage access and other living costs can still prevent low-income households from buying property.