The Minister of Housing and Urban Development, Ahmed Dangiwa, revealed at the 18th Africa International Housing Show in Abuja that Nigeria is facing a significant housing shortage, necessitating the Construction of 550,000 housing units annually for the next decade. He explained that the government would need about ₦5.5 trillion each year to build 550,000 houses annually over a span of 10 years. The Renewed Hope Housing Agenda was introduced as a step towards achieving this ambitious goal.
According to him, they have set an ambitious goal of delivering 50,000 units, which may seem challenging considering the past housing stock development record. However, compared to the annual requirement of 550,000 housing units, their target appears quite small. This gap presents not only a social need but also a profitable opportunity for Investors and partners to create a meaningful impact. Since the portal was launched, Mr. Dangiwa stated that they had received more than 28,000 applications.
Collaboration between the stakeholders will improve the outcome.
Godswill Akpabio, the Senate President, emphasised the 10th Assembly’s commitment to ensuring every individual has access to shelter. He highlighted the collaboration between the Senate and the executive branch in making housing rights a tangible outcome for the Nigerian population. It is crucial that they ensure every individual, especially those who are most at risk, has access to Affordable Housing options. No one should be left behind when it comes to providing housing solutions for all in our community.
Additionally, Mr. Akpabio emphasised the importance of implementing inclusive policies when discussing housing. He raised concerns about the building collapse in Nigeria and called on professionals in the construction industry to tackle this issue. Also, Abbas Tajudeen, the Speaker of the House of Representatives, underscored the significance of housing in fostering the growth and advancement of Nigeria. He believes that ensuring sufficient housing is more than just a societal requirement; it is a crucial measure in addressing numerous issues faced by both the country and the global population.
Housing demand and supply will be addressed with progressive policies.
Simplification of the land acquisition process and enhancement of land administration systems, according to Mr Tajudeen, will help alleviate obstacles and promote the development of more housing projects. He stated that government involvement in providing affordable mortgages is beneficial for the industry, highlighting the importance of sustainable housing solutions that safeguard the environment. Tackling issues in housing demand and supply while enacting progressive policies can transform the country’s housing sector into a driver for national and international development.
Many efforts have been carried out in the past to establish a foundation for dealing with housing issues and preparing for present endeavours. Over the years, different governments have introduced programs with the goal of enhancing access to and affordability of housing. One such instance is the National Housing Programme (NHP), which many administrations have implemented to build cost-effective housing units nationwide. These initiatives were designed to address the shortage of affordable housing for individuals with low incomes, ultimately enhancing societal cohesion and fostering economic growth.
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Adequate housing is not just about providing shelter; it is essential for achieving larger developmental objectives. Secure housing improves social welfare, strengthens community bonds, and boosts economic output. It acts as a driving force in reducing poverty, as stable living conditions allow people to focus on education, work, and overall socio-economic progress. By leveraging past achievements and overcoming obstacles, Nigeria can reach its housing goals and prioritise housing as a key driver of equitable growth and prosperity for its people.