Feature: Nigeria’s increasing population and challenges of housing deficit

Nigeria
Thursday , Feb 1 , 2018

Feature: Nigeria’s increasing population and challenges of housing deficit

January 24, 2020 4531 comments

By Franca Ofili,

Nigeria’s population is currently put at about 194 million people, while the United Nations estimates that the figure will rise to 400 million by 2050.

By that estimate, Nigeria will be the most populous country in the world after
China and India.

However, available data put Nigeria’s housing deficit at 17 million.

Aware of the consequences of fast growing population on the housing sector, various governments had put measures in place to address the housing challenge.

The measures and policies include-enactment of the Land Use Act of 1978, Mortgage Institutions Act, 1989, Federal Housing Authority Act, 1990, National
Urban Development Policy, 1997, Housing and Urban Development Policy, 2002, among others.

In spite the numerous policies, and the Land Use Act, meant to liberalise land acquisition for housing, stakeholders noted that not much have been achieved.

They stressed the need to adopt strategies that would boost construction of mass houses.

Senate President Ahmed Lawan, who commented on the challenges in the housing sector, said there was need to amend the Land Use Act.

“I am aware that there are critical areas that require legislative intervention such as the Land Use Act, the National Housing Fund, Housing Regulations, and many more enabling policies.

“It is in my agenda to see to it that all policies required to get us
closer to our collective dreams are achieved, as the senate president, I recognise the importance of housing.’’

On his part, Mr Gideon Luka, Minority Whip of the House of Representatives, said that the House would ensure that the Nigerian Institute of Architects (NIA), a key player in the housing sector is given all the needed support.

“The challenges of housing are enormous, but there is a lot we can do in order to remain focused in addressing housing deficit in the
country.

“All the professionals must work together to address the challenges of housing in the country,’’ he said.

Mr Yemi Adelakun, Managing Director, Nigeria Integrated Social Housing
(NISH) Affordable Housing Ltd, called for a robust savings scheme to ensure inclusive growth and development.

Adelakun stressed the need to encourage cooperative housing scheme, address building materials and financing challenges, among others.

Mr Ahmed Dangiwa, the Managing Director, Federal Mortgage Bank of
Nigeria (FMBN), said addressing the housing deficit must go hand-in-hand with the promotion of use of local building materials and technology.

Dangiwa said that ArchiBuilt has made a lot of impact in this direction.

ArchiBuilt is an annual exhibition organised to continually bring to the fore, trends, technologies, systems, and policy issues that impact on the building industry’s intervention and responses to
everyday living.

“ArchiBuilt had made lots of impacts on government policies on the building and construction sector.

“The promotion of local content in building materials and construction technology cannot be overemphasised,” he said.

He said that the forum should be sustained as it provides platform for government at all levels, policymakers, professionals and sector players to interact.

Mr Festus Adebayo, the Chief Executive Officer of Fesadeb Communications Ltd. called on the Federal Government to declare a state of emergency in the housing sector.

Adebayo, the convener of the just-concluded 13th Abuja International Housing Show, said that the population of the country is growing at a geometric rate, while housing is growing at arithmetic progression.

He said the Federal Government’s efforts in the provision of houses could not match the country’s population growth rate.

“The 17 million deficit cannot be static, every day we are increasing in number without increasing in ideas, policies and political will.’’

Adebayo said that government should not be involved in building houses; rather it should come up with policies that would encourage people to invest in the sector.

He advised relevant authorities to focus more on what is called “Rental Housing Scheme,’’ which he defined as “own and pay accordingly.”

Adebayo also called on the government to ban importation of building materials in order to promote local content in the building sector.

He also identified high mortgage interest rate as a major challenge facing the housing sector.

Adebayo said that the situation made it difficult for the citizens to access loans from mortgage banks.

“An ordinary citizen of Nigeria cannot walk into a mortgage bank and process a loan because the interest is still at double digits.

“A civil servant who worked for 35 years cannot afford to buy a two-bedroom apartment in a good location in Abuja or Lagos,” he said

Mrs Mounia Tagma, Manager of Middle East and Africa Projects, at the Affordable Housing Institute (AHI), called on the government to fashion out intervention in order to reduce the cost of land and construction.

She advised that the country should carryout research that would inspire actions and bring results.

Prof. Charles Inyangete, Chairman, Innovative Risk and Investment Solution, said the challenge of affordable housing should be addressed via a comprehensive urban plan that would sustain new
communities.

He said that statistics released in October 2015 by the Centre for Affordable Housing Finance in Africa, indicated that Nigeria needed about 363 billion dollars to meet its current housing needs.

Inyangete, a former Managing Director, Nigeria Mortgage Refinance Company (NMRC), said that the country would only succeed in building homes by building sustainable communities.

According to him, statistics by McKinsey Firm also revealed that Nigeria currently has about 96 million urban households that are financially overstretched, while many people live in
substandard housing.

Mckinsey also said that by 2025, 106 million additional low income households would face the challenge of affordable housing, especially in the urban areas.

With contributions from experts on the way forward, government should identify the best option to tackle the country’s housing deficit. The “Rental Housing Scheme,’’ may be a credible and workable option. (NANFeatures)

font size decrease font size increase font size
Print
Email

Published in Property Hub

DISTRESS SALE !!! FOUR BEDROOM BUNGALOW FOR SALE IN ABUJA »

4531 comments

Comment Link Sunday, 20 December 2020 22:07 yeezy supply
My husband and i have been satisfied Louis could deal with his studies via the precious recommendations he came across out of your blog. It is now and again perplexing to just choose to be giving for free tactics that many the rest might have been making money from. And we also do understand we have the website owner to thank for that. These explanations you have made, the simple website navigation, the friendships you will give support to promote - it is many amazing, and it's letting our son and the family reason why this article is awesome, and that is incredibly fundamental. Thanks for the whole thing!
Comment Link Sunday, 20 December 2020 22:07 hermes handbags
Thanks so much for giving everyone an exceptionally remarkable possiblity to read articles and blog posts from this blog. It is usually very kind and as well , packed with a lot of fun for me and my office colleagues to visit the blog really 3 times every week to learn the fresh secrets you have got. Not to mention, we're always satisfied with all the attractive suggestions served by you. Selected 3 areas in this article are rather the most suitable we have had.
Comment Link Sunday, 20 December 2020 22:06 yeezy shoes
I am glad for writing to let you be aware of what a extraordinary discovery our daughter had going through your web page. She noticed so many issues, including what it's like to have an awesome teaching heart to let the others without difficulty know specific very confusing issues. You really exceeded her expectations. Thanks for providing those warm and helpful, trusted, revealing and as well as fun tips about this topic to Kate.
Comment Link Sunday, 20 December 2020 21:48 kyrie 5 spongebob
Thank you so much for providing individuals with a very breathtaking chance to read from this website. It can be very nice and also packed with amusement for me and my office fellow workers to search your site more than thrice in one week to learn the fresh guides you have got. Not to mention, I am also actually happy with all the magnificent secrets you serve. Selected 3 ideas in this post are honestly the most efficient we've had.
Comment Link Sunday, 20 December 2020 21:24 kyrie 7 shoes
I would like to show my thanks to the writer just for bailing me out of this particular matter. Right after researching throughout the internet and getting tips which were not pleasant, I was thinking my entire life was over. Being alive devoid of the strategies to the difficulties you've fixed as a result of your blog post is a crucial case, and the kind that would have adversely damaged my career if I hadn't come across your web blog. The ability and kindness in dealing with every part was priceless. I am not sure what I would've done if I hadn't come across such a thing like this. I am able to at this time look forward to my future. Thanks a lot very much for your impressive and sensible help. I will not think twice to propose the website to anyone who needs to have care about this situation.
Comment Link Sunday, 20 December 2020 21:20 off white
My wife and i got now joyful when Raymond could deal with his basic research using the ideas he gained out of your site. It is now and again perplexing to just find yourself releasing tips and tricks which usually other people have been making money from. We fully understand we now have the website owner to thank for that. The most important illustrations you've made, the simple blog menu, the friendships you will help to create - it's many great, and it is facilitating our son in addition to our family believe that that content is excellent, which is certainly extraordinarily mandatory. Many thanks for the whole lot!
Comment Link Sunday, 20 December 2020 21:20 kyrie 5
I and also my guys came examining the excellent secrets on the website while quickly I had a terrible suspicion I never thanked the web blog owner for those techniques. All the ladies were definitely as a result joyful to read them and have now unquestionably been taking advantage of those things. I appreciate you for genuinely quite helpful and also for considering this sort of very good subjects millions of individuals are really eager to know about. My personal sincere regret for not saying thanks to earlier.
Comment Link Sunday, 20 December 2020 21:20 kenzo clothing
I actually wanted to post a simple word to be able to express gratitude to you for the wonderful facts you are posting at this website. My incredibly long internet search has now been recognized with wonderful content to write about with my guests. I 'd assert that we website visitors are unquestionably fortunate to dwell in a useful community with so many special people with insightful ideas. I feel quite happy to have seen your webpages and look forward to really more entertaining minutes reading here. Thank you again for everything.
Comment Link Sunday, 20 December 2020 21:20 yeezy 500
I am glad for writing to let you know what a useful experience our child encountered checking your web page. She learned some issues, with the inclusion of what it is like to possess an amazing helping spirit to let many people clearly fully understand selected specialized subject matter. You truly surpassed visitors' expectations. Many thanks for presenting these essential, trustworthy, revealing and as well as unique tips about your topic to Emily.
Comment Link Sunday, 20 December 2020 21:20 supreme clothing
I precisely had to thank you very much all over again. I do not know what I would've undertaken without those suggestions documented by you concerning this situation. It actually was an absolute frustrating problem in my circumstances, nevertheless spending time with a well-written fashion you treated it took me to jump for delight. I'm just happier for the service and thus expect you comprehend what a great job your are providing instructing the mediocre ones thru your web page. I know that you haven't encountered all of us.