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From Isaac Anumihe, Abuja
With Nigeria’s housing deficit surpassing 20 million, the Minister of Housing and Urban Development, Ahmed Dangiwa, has described the crisis as both a formidable challenge and a unique opportunity for change.
He emphasised that bridging the gap would require the government to deliver at least 500,000 housing units annually over the next decade to meet the nation’s growing demand.
Speaking at the 4th Edition of the Real Estate Future Forum in Riyadh, Saudi Arabia yesterday, the minister highlighted the Nigerian government’s commitment to addressing the housing shortfall through a blend of government finance and strategic public-private partnerships (PPP).
Dangiwa commended the Kingdom of Saudi Arabia for its advancements in housing and urban development, noting that well-planned housing is essential for sustainable urban growth, economic prosperity, and improved living conditions.
“With a housing deficit of over 20 million units and a rapidly-growing population, Nigeria presents a vast opportunity for investment in affordable housing. To bridge this gap, we need to build about 500,000 housing units annually over the next decade” he said
He outlined Nigeria’s ambitious Renewed Hope Cities and Estates Programme, a government-driven initiative to deliver 100,000 housing units in the first phase. These developments, designed as integrated communities, he said, will cater for all income levels, including high-end residences and affordable units for low- and middle-income earners.
The minister emphasised that affordability is central to the programme’s success, with mortgage loans, rent-to-own options, made available through the Federal Mortgage Bank of Nigeria (FMBN).
Beyond housing construction, Dangiwa listed the government’s plans to establish Building Materials Manufacturing Hubs (BMMHs) in each of Nigeria’s six geo-political zones. These hubs, according to him, aim to reduce dependence on imported building materials, lower construction costs, and drive industrial growth.
Additionally, he noted that the government is working to implement a Comprehensive Nationwide Social Housing Delivery Programme targeting vulnerable groups, aiming to provide 100,000 social housing units across Nigeria’s 774 Local Government Areas.
Recognising the scale of investment required, the minister called on international investors, housing finance institutions, and reputable global developers to partner with the Nigerian government through Public-Private Partnerships. He assured investors of a conducive environment, including access to land, bankable offtake guarantees, and necessary concessions to ensure mutually- beneficial collaborations.
“The housing challenge in Nigeria is not just a problem; it is a massive opportunity for investment. By partnering with us, investors can play a crucial role in shaping the future of Nigerian housing while securing substantial returns on investment” he noted
The minister reaffirmed the government’s dedication to fostering an inclusive and sustainable housing sector and invited stakeholders to collaborate in building a prosperous and resilient urban future for Nigeria.
