Housing corporations are gov't parastatals with access to government land, which place them at vantage position to execute gov't housing scheme.
Dreams of Nigerians to own homes through housing agencies may have dimmed, following inadequate funding, political tinkering orchestrated by greed and corruption of the leadership in states.
The state housing agencies say, the option for their becoming the engine room of economic development is restructuring by way of organizational and financial structural changes.
The creation of these housing corporations by the then regional governments prior to independence marked the beginning of the creation of modern housing estates throughout the country.
The effect of the housing corporations were further widened with the establishment in 1964 of the Association of Housing Corporations of Nigeria (AHCN), whose main objective is to ensure the increased availability of dwelling houses and the development of housing industry.
This structure ultimately became a focal point within which the first housing policy of 1990 was formulated and subsequent policies are being implemented.
These housing agencies located in each state of the federation, were statutorily created to execute public housing programmes for each state of the federation based on the formulated housing policies.
Essentially, they are to undertake the development of estates by acquiring, developing, holding, managing, selling, leasing or letting any property movable or unmovable in their respective states.
They were also charged with providing a home ownership saving scheme in respect of any housing estate or building owned, constructed and managed by them with a view to enabling members of the public purchase or build their own houses as well as sites and services scheme for residential, commercial and industrial purposes for the people of their respective states.