Macro-economic Data

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    A. Demography and Macroeconomy

    A.1 Population
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total population182.2 million177.48 million172.82 million
    WDI
    		A.1.1
    Urban population (% of total)47.78% of total46.94% of total46.09% of total
    WDI
    		A.1.4
    Urban population growth (annual %)4.39%4.48%4.57%
    WDI
    		A.1.5
    A.2 Economy
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    GDP, current prices (U.S. dollars)490,207 USD (millions)573,999 USD (millions)521,812 USD (millions)
    WEO
    		A.2.1
    GDP based on PPP valuation of country GDP (Current international dollar)1,091,700 USD (millions)1,052,937 USD (millions)974,435 USD (millions)
    WEO
    		A.2.2
    GDP per capita, current prices (U.S. dollars)2,742.86 USD 3,300.03 USD 3,082.49 USD
    WEO
    		A.2.3
    GDP based on PPP per capita GDP (Current international dollar)6,108.41 USD 6,053.53 USD 5,756.27 USD
    WEO
    		A.2.4
    GDP, constant prices (Percent change)2.65%6.31%5.39%
    WEO
    		A.2.5
    Inflation, end of period consumer prices (Percent change)9.55%7.98%7.96%
    WEO
    		A.2.6
    GDP, deflator (Index)136.40132.60126.69
    WEO
    		A.2.7
    Consumer price index158.94145.80134.92
    WEO
    		A.2.8
    Growth in urban household income (%/year)A.2.13
    Employment (% of total laborforce)A.2.14
    Unemployed 4.8%7.1%
    WDI
    		A.2.14.3
    Interest Rates:A.2.15
    Central bank lending/discount rate11%13%12%
    IFS
    		A.2.15.1
    Average bank deposit rate9.15%9.34%7.95%
    IFS
    		A.2.15.4
    Lending rate16.85%16.55%16.72%
    IFS
    		A.2.15.5
    B. Housing Market
    B.1 Housing Stock: Production, Transactions
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Number of dwelling units:B.1.1
    Characteristics of housing stock:B.1.3
    Tenure in urban areas (%):B.1.4
    Owner-occupied units  75.4% of totalB.1.4.1
    Private rental units  39.8% of total
    Overview of the Housing Finance sector in Zambia-http://hofinet.org/documents/doc.aspx?id=2238
    		B.1.4.3
    Public / social rental units  39.8% of total
    Overview of the Housing Finance sector in Zambia-http://hofinet.org/documents/doc.aspx?id=2238
    		B.1.4.4
    Estimated Number of units completed/yearB.1.5
    Formal sector/registered  100,000 units
    Hon. Minister for Finance, Nigeria speech at the World Bank-http://hofinet.org/documents/doc.aspx?id=2239
    		B.1.5.1
    B.2 Housing Prices and Cost for Urban Areas or Capital City
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Median urban house price in USD:B.2.1
    Median house price to median annual HH income:B.2.2
    Annual average % change in median house prices:B.2.3
    M2 construction cost for median quality houseB.2.4

    back to top | Country Data:
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 3 months' deposits
    Notes: 3 months' deposits
    Notes: 3 months' deposits
    Notes: 3 months' deposits
    Notes: Based on 2008 survey - 75.4% owned their own home. The figures were 52% and 85% for urban and rural areas respectively.
    Notes: Federal Mortgage Bank of Nigeria finances mortgages made by PMI's.
    Notes: Federal Mortgage Bank of Nigeria finances mortgages made by PMI's.
    Notes: First class advances
    Notes: First class advances
    Notes: First class advances
    Notes: First class advances
    Notes: First class advances
    Notes: For leading commercial banks offering mortgages, a down payment is required of 25%, on average, of the property value.
    Notes: Many banks have limited the repayment period to 20 years. However, the National Housing Fund Loan allows for a repayment period of 30 years.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: Property rights are defined and guaranteed by the Nigerian Constitution.
    Notes: The Asset Management Corporation of Nigeria (AMCON), which is an arm of the Federal Government of Nigeria, acquired three banks in 2011 following the global financial crisis; Mainstreet Bank, Keystone Bank and Enterprise Bank.
    Notes: The Asset Management Corporation of Nigeria (AMCON), which is an arm of the Federal Government of Nigeria, acquired three banks in 2011 following the global financial crisis; Mainstreet Bank, Keystone Bank and Enterprise Bank.
    Notes: The Asset Management Corporation of Nigeria (AMCON), which is an arm of the Federal Government of Nigeria, acquired three banks in 2011 following the global financial crisis; Mainstreet Bank, Keystone Bank and Enterprise Bank.
    Notes: The Federal Mortgage Bank of Nigeria distributes funds collected through a labor tax (2.5% of monthly salary) through the National Housing Fund as a secondary level lender.
    Notes: The Federal Mortgage Bank of Nigeria distributes funds collected through a labor tax (2.5% of monthly salary) through the National Housing Fund as a secondary level lender.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund collects a portion of employees' salaries (2.5% monthly) which are then used to provide long term loans to Mortgage Institutions by the Federal Mortgage Bank of Nigeria.
    Notes: The National Housing Fund provides mortgage loans at a rate of 6%. Lending from the Federal Mortgage Bank of Nigeria to mortgage lenders allows for the subsidized interest rate.
    Notes: The Nigeria Mortgage Refinance Company (NMRC) was incorporated in 2013. The firm provides liquidity to participating mortgage lenders by providing loans at affordable rates.
    Notes: The Nigeria Mortgage Refinance Company (NMRC) was incorporated in 2013. The firm provides liquidity to participating mortgage lenders by providing loans at affordable rates.
    Notes: The Nigeria Mortgage Refinance Company (NMRC) was incorporated in 2013. The firm provides liquidity to participating mortgage lenders by providing loans at affordable rates.
    Notes: The NMRC created a set of Uniform Underwriting Standards to be used by lenders for mortgage loans.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: The NMRC is a corporation set up by the government to provide mortgage lenders with increased access to liquidity for mortgage services.
    Notes: There is a capital gains tax of 10%. The taxable amount is calculated as sale price minus acquisition and incidental costs.
    Notes: There is a property tax levied at a rate of 1% for properties located in the Federal Capital Territory Abuja. This tax applies to homes worth more than NGN 300 million (about 1.5 Million USD).
    Notes: There is a registration fee of 3% and a stamp duty ax of 2% that must be paid for the purchase of the property. These fees must be paid by the buyer.
    Notes: XDS Credit Bureau is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.
    Notes: XDS Credit Bureau Limited is Nigeria's first credit bureau and was incorporated in 2005.