How to end Nigeria’s housing crisis –Olatunbosun, Abuja-based developer

• Unveils Casalavoro Residence

The Nigerian governments have been urged to make land more affordable in order to end housing crisis in the country.

Chief Executive Officer of Casalavoro Residence, Williams Olatunbosun, made the call  during the unveiling of a new Casalavoro Residence branch in Wuse II, Abuja.

He identified high land and development costs as the biggest contributors to the housing deficits in the country.

“Government support is essential. The major reason for high housing costs is the cost of land and development. If land costs drop by 50 percent, housing costs will follow suit.”

He explained that with the recent increase in the National Housing Fund (NHF) loan ceiling to ₦50 million, it has become realistic for public servants to own homes—provided developers receive the right incentives and land becomes more accessible.

“We’ve done our calculations, and it’s very possible to build quality homes with ₦50 million. We’ve benchmarked our projects with this in mind,” he noted.

Olatunbosun also unveiled Casalavoro’s ambitious plan to contribute to solving Nigeria’s housing shortage by constructing 10 million housing units across major cities like Lagos, Abuja, and Port Harcourt over the next five to ten years.

“Our vision is to build large, sustainable communities that are energy-efficient and reduce electricity costs for residents,” he stated. “This expansion can only be sustained if the government also supports with tax reductions and access to finance.”

He described the government as an enabler, noting that with the right environment—such as tax incentives and land access—developers can scale up delivery of affordable housing. “What has worked in other countries can be replicated here,” he added.

Olatunbosun noted that Casalavoro Residence is a hospitality concept rooted in comfort, style, and intentionality, aimed at creating spaces that feel like home but function like a station for productivity, relaxation and curated experiences

Casalavoro Residence, known for its fusion of hospitality and modern living, launched its flagship location in Maitama in early 2023.

The Wuse II branch opening was attended by key stakeholders in the housing sector.

The new residence marks its first expansion, a bold step fueled by strong reception and demand. The new location, according to the management, builds on the success of Maitama while bringing its own personality, features, and experiences to a broader community.