WorldStage Newsonline– Nigeria has a huge housing deficit that requires the construction of 550,000 housing units per annum over the next 10 years at a cost of about 5.5 trillion naira annually, the Minister of Housing and Urban Development, Ahmed Dangiwa, has said.
Speaking at the 18th Africa International Housing Show in Abuja, which had the theme: “Financing the House We Need’’ he said that to achieve the goal of constructing 550,000 houses per annum for 10 years, the government would require about 5.5 trillion naira annually, adding that the Renewed Hope Housing Agenda was a plan in that direction.
“The 50,000 units we plan to deliver is relatively ambitious given our history in the housing stock development. However, it is very small when we place it side by side with the 550,000 housing units required per annum.
“I see this gap not only as a social necessity but a business opportunity for investors and our partners to make profitable impact.
“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 the issues of abandoned or completed but unsold buildings by launching an online housing portal to ease the process of acquiring homes.’’
Dangiwa said that over 28,000 applications had been recorded since the launch of the portal.
Also speaking at the Housing Show, the Senate President, Godswill Akpabio, said the 10th Assembly believed that every person deserved a roof over his or her head and would stand by citizens to achieve that goal.
Akpabio, represented by the Vice-Chairman, Senate Committee on Lands, Housing and Urban Development, Victor Umeh, said the Senate was working hand in hand with the executive to ensure housing right became a reality for Nigerians.
“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.
“Furthermore, no discussion on housing can be deemed complete without addressing the need for inclusive policies.
“Our citizens come from diverse backgrounds and have different needs. It is our duty to ensure that our housing policies cater to these diverse needs, providing equal opportunities for all.
“I firmly believe that this housing show can assist us in creating a housing ecosystem that leaves no-one behind, and uplifts the marginalised,’’ he said.
Akpabio expressed concern over building collapse in Nigeria and tasked professionals in the built environment to address the menace.
The Speaker, House of Representatives, Abbas Tajudeen, represented by the Chairman, House Committee on Housing and Habitat, Abdulmumin Jibrin, stressed the importance of housing to the growth and development of Nigeria.
According to Tajudeen, providing adequate housing is not just a social need, but a critical step towards solving many of the nation’s and humanity’s challenges.
He said: “It is an asset of pride and power, with critical economic, social, and political impacts. I believe that financing and providing adequate housing is essential for addressing many of our nation’s challenges.
“These challenges include insecurity, social stability, job creation, health, quality education, economic productivity, preservation of culture and values and civic participation.
“To address these challenges and unlock the potential of housing as a solution to Nigeria’s problems, we must implement comprehensive policies that focus on both demand and supply.
“We must prioritise the construction of affordable housing units through direct government funding and public-private partnerships.
“Incentives such as tax breaks and subsidies for developers can stimulate investment in affordable housing projects.’’
Tajudeen added that simplifying the land acquisition process and improving land administration systems would reduce bottlenecks and encourage more housing projects.
“Government intervention in the area of affordable mortgages is a win-win for the sector, and this emphasises the need for sustainable housing solutions that protect our environment.
“By addressing the challenges in housing demand and supply, and implementing forward-thinking policies, we can transform our housing sector into a catalyst for national and international development,’’ Tajudeen stressed.
The Chairman of the ceremony, Pastor Mathew Ashimolowo, who is the Chairman of Makarios: The Luxury Place, called on Nigerians to embrace the act of land banking, which was the practice of aggregating parcels of land for future sale or development.
Ashimolowo advised that in doing so, citizens should be wise to avoid encroaching on government reserved lands and they should also learn about the land laws in their various states.
He called on the government to make accessing houses through mortgages easier for citizens like in other climes, to fill in the housing gaps in the nation.
The Chairman, Africa International Housing Show (AIHS), Suleiman Zarma, in his welcome address, said that the 2024 housing show was the 18th Edition organised to address the housing challenges in Africa.
“This event is therefore put together to find sustainable and lasting solutions to the myriad of housing challenges confronting the continent.
“The global economic and political crisis does not spare any continent as the effects manifest in rising prices of virtually everything.
“These disturbing scenarios therefore call for a renewed political will to combat the daunting challenges, and one of the ways to tackle these recurrent issues is the inclusion of professionals in built environment,’’ Zarma said.
He added that the AIHS 2024 featured an exhibition to highlight revolutionary products, materials, designs, and processes for the provision of housing.
