Nigeria grappling with 28 million housing deficits

A real estate firm, Jibzit Properties Limited, says Nigeria is grappling with over 28 million housing deficits.

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The chief executive officer of the firm, Azeez Adigun, disclosed this on the sidelines of the Inaugural Kwara Real Estate Conference (KWAREC) held at the Banquet Hall of Government House, Ilorin.

Themed “Aspiring To Elevate”, the conference was held by the firm in partnership with Kabad Nigeria Limited.
Mr Adigun said Kwara State alone has a housing deficit of about one million.

However, he said solving the problem requires government and private sector collaboration.

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“The solution to the housing problem does not lie with the government alone. The government is only a facilitator of the solution.

“The private sector has to come in, partner with the government to help in providing solutions to housing problems and challenges,” he said.

Mr Adigun said Kwara is positioned as a gateway to the North and the South due to its natural endowment in tourism and the agro-allied sector.

“Kwara State has enormous potential that all of us can tap into. Kwara State is like a sleeping giant, which has been there like forever. And you know that when you have a sleeping giant, you need something to stimulate it to wake up.

Mr Adigun said his firm planned to invest heavily in the real estate sector of the state.

“The government has their plan. Ours is just to key into part of the plan. We are hoping to invest massively.

Kwara Smart City for 540,000 residents

In his remarks, the state Commissioner for Urban and Housing Development, Segun Ogunsola, said the ongoing Kwara Smart City project was designed to house no fewer than 540,000 residents.

He said the city will have residential, commercial, industrial and recreational facilities. Mr Ogunsola said the smart city was conceived to cater to a population explosion expected in the next two and a half decades.

“It has been predicted that Nigeria, in the next 25 years, will become the third most populous country in the world. So, we have India, China and others. And the question lies. What are we doing preparatory for this demographic fact in all aspects of our lives; economy, agriculture, environment, housing, infrastructure.”

READ ALSO: Kwara shuts two schools over student unrest

As part of its urban renewal project, he said the government has improved the state infrastructure with a quality road network.

Also speaking at the event, the Attorney General and Minister of Justice, Lateef Fagbemi, said the government alone cannot meet the accommodation needs of the people owing to the limited resources at its disposal.

Mr Fagbemi, who spoke through an Ilorin-based Senior Advocate of Nigeria, Kehinde Eleja, said shelter has remained a major issue around the globe, hence the imperative of private sector practitioners collaborating with the government to curb the ugly trend.