Nigeria needs to construct 550,000 housing units annually over the next 10 years to address its substantial housing deficit, according to Minister of Housing and Urban Development Ahmed Dangiwa.
Speaking at the 18th Africa International Housing Show on Tuesday in Abuja, themed “Financing the House We Need,” Dangiwa highlighted the financial requirements for this ambitious goal. “To achieve this target, the government would need approximately 5.5 trillion naira annually. The Renewed Hope Housing Agenda aims to address this challenge,” he stated.
While acknowledging that the plan to deliver 50,000 units is ambitious given Nigeria’s history in housing stock development, Dangiwa noted that it falls short compared to the annual requirement of 550,000 units. He viewed this gap as both a social necessity and a business opportunity for investors and partners. “This is why we are looking to Public-Private Partnerships and collaborations with housing development finance institutions, investors, and partners. We have adopted a demand-driven approach for our housing delivery strategy to avoid issues of abandoned or completed but unsold buildings by launching an online housing portal to ease the process of acquiring homes.” Since its launch, the portal has recorded over 28,000 applications.
Senate President Godswill Akpabio, represented by Victor Umeh, Vice-Chairman of the Senate Committee on Lands, Housing, and Urban Development, affirmed the Senate’s commitment to ensuring every Nigerian has a home. “We must leave no one behind in our efforts to provide affordable and accessible housing solutions, especially for the most vulnerable members of our society,” Akpabio said. He also emphasized the importance of inclusive housing policies and expressed concern over building collapses, urging professionals in the built environment to address this issue.
Speaker of the House of Representatives Abbas Tajudeen, represented by Abdulmumin Jibrin, Chairman of the House Committee on Housing and Habitat, stressed the importance of housing to Nigeria’s growth and development. “Providing adequate housing is not just a social need but a critical step towards solving many of the nation’s challenges, including insecurity, social stability, job creation, health, quality education, economic productivity, preservation of culture and values, and civic participation,” he said. Tajudeen called for comprehensive policies focusing on both housing demand and supply, prioritizing affordable housing through direct government funding and public-private partnerships, and simplifying land acquisition processes.
Pastor Mathew Ashimolowo, Chairman of Makarios: The Luxury Place, encouraged Nigerians to engage in land banking responsibly and called on the government to make mortgages more accessible to citizens. Suleiman Zarma, Chairman of the Africa International Housing Show (AIHS), emphasized the event’s role in finding sustainable solutions to Africa’s housing challenges, particularly in the face of global economic and political crises. The AIHS 2024 featured an exhibition showcasing revolutionary products, materials, designs, and processes for housing provision.
