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Nigeria’s housing deficit exceeds 20 million units, worsening the accommodation crisis nationwideReal estate developers urge government intervention to reduce construction costs and increase affordable housing accessProposed legislation aims to regulate the real estate sector, enhancing transparency and protecting buyers from fraud
Nigeria’s housing crisis is worsening, with the country’s housing deficit now estimated at more than 20 million units as soaring construction costs and limited financing continue to drive property prices and rents higher, especially in Abuja and other major cities.
Real estate developers are now calling on the Federal Government to intervene urgently by reducing the cost of building materials, improving access to affordable land, and expanding housing finance to ease the burden on millions of Nigerians struggling to secure decent accommodation.
Amos Gbadewole, Vice Chairman of the Real Estate Developers Association of Nigeria (REDAN), at a youth entrepreneurship programme in Abuja. Credit: REDANSource: Original
Rising construction costs fuel housing crisis
Speaking at a
