Research on Diaspora Mortgages in Nigeria

Available research indicates that remittance flows into Africa have become an important source of funding. According to initial findings, an estimated 52% of remitted flows into Africa by the diaspora are channeled into financing housing which hints at the strategic importance of diaspora remittances as a major driver of the housing sector.

This survey is conducted by the International Finance Corporation (IFC), the private sector branch of the World Bank Group. Its purpose is to explore the possibility of creating a financing vehicle to serve diaspora home financing needs across Sub-Saharan Africa initially in Kenya, Ghana, and Nigeria. This Fund is aimed at providing long-term financing to financial institutions in Nigeria towards deepening and expanding their diaspora mortgage lending operations. Diaspora mortgages are loans that allow non-residents living abroad to purchase homes or apply for and service a mortgage in their home countries. survey link https://forms.office.com/r/8VTnkcbKsE

Thus, the purpose of this research is to validate and analyze the demand and interest for home financing among prospective Nigerian clients in the diaspora as a means for home acquisition in Nigeria and to give lenders in Nigeria a good sense of the demand for housing finance among the diaspora. In addition, this is aimed at gaining insights into issues, problems, and constraints that could hinder the operationalization of the proposed Fund in Nigeria.

Your responses and personal information will not be shared with any third party other than the IFC team that is responsible for this project. Only aggregated data and statistics will be included in any future report or paper based on the data. For more information on how IFC manages your personal data, please visit our website

If you have any questions about the survey, please contact Abel Owotemu: [email protected]

Kindly click on this link to answer the survey: https://forms.office.com/r/8VTnkcbKsE

Thank you for your participation.

Regards,

Abel Owotemu, PhD