By Adaobi Rhema Oguejiofor
In a bid to improve Nigeria’s housing sector, the Honourable Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, has beckoned on the Directors and Heads of Town Planning Organizations in the country to champion the development of inclusive and sustainable cities that aid the promotion of economic growth and resilience.
Dangiwa made the call in his keynote address at the Opening Ceremony of the 2024 National Conference of Directors and Heads of Town Planning Organizations organised by the Federal Ministry of Housing and Urban Development in Akure, Ondo State.
At the conference with the theme, “Effective Physical Planning as a Panacea for Integrated and Sustainable Urban Development in Nigeria,” the minister noted that the event aligned with the Renewed Hope Agenda of the current administration, which seeks to build equitable and resilient cities nationwide.
Dangiwa, while highlighting Nigeria’s rapid urbanization, pointed out that the nation’s urban population has risen sharply, growing from 15% in 1960 to 54% in 2022, with projections indicating that by 2050, 70% of Nigeria’s population will reside in urban areas.
On his part, the Executive Governor of Ondo State, Lucky Aiyedatiwa, represented by his Commissioner of Physical Planning and Urban Development, Gbenga Olaniyi, stated that concerted and collaborative efforts are needed to combat challenges in Nigerian cities.
He expressed that, Ondo State, as a case study, has taken deliberate measures which include effective waste management and development of master plans for major cities as modalities to ensure a healthy environment.
Also, the Permanent Secretary of the Federal Ministry of Housing and Urban Development, Dr. Marcus Ogunbiyi, stated that the Conference provides a platform for the participants to ruminate over issues that would positively reshape the human settlement systems of Nigeria. His address was delivered by the Director of Urban and Regional Development in the ministry, Dr. Olakunde Akiona Dabid.
Meanwhile, a housing expert at the University of Lagos (UNILAG), Professor Timothy Nubi, has issued a firm warning regarding the Nigerian housing sector and by extension, the nation’s economy.
According to him, Nigeria’s economic prosperity hinges on the federal and state government’s recognition of the relationship between real estate and national development.
Nubi expressed his strong opinion while speaking as the keynote speaker at the Nigerian Institute of Building (NIOB) 33rd Builder’s Conference and annual general meeting in Lagos. He highlighted the importance of the housing sector, which he argues is critical to addressing the country’s economic challenges.
He also lamented that despite the housing sector’s potential to create significant employment opportunities and enhance security, it remained overlooked in the discourse on economic recovery.
Nubi noted that with projections indicating that up to 50 per cent of the population will reside in urban areas, there is a pressing need to provide adequate housing and infrastructure. This demand presents opportunities for professionals willing to navigate the current challenges within the sector.
The professor Identified the various barriers to investment in Nigeria’s housing sector, including outdated laws, bureaucratic hurdles, limited mortgage options, difficulty in title transfers, and a lack of transparency and accountability. He expressed optimism for the future of real estate, particularly with the construction and completion of strategic infrastructure projects, such as the Lagos-Calabar Highway, Eko-Atlantic City, the proposed 4th Mainland Bridge, and investments in data centres, refineries, and educational institutions.
Furthermore, in his capacity as the Director of the Centre for Housing and Sustainable Development (CHSD) at UNILAG, Nubi called for the digitisation of land registries, the adoption of new technologies, unlocking capital markets, tax reforms, and improved infrastructure investment. He also urged building professionals to collaborate more effectively in order to overcome existing barriers in the industry.
On his part, the Chairman of the NIOB Lagos Chapter, Adeoye Thomas, emphasised the significance of the conference in bringing together members, stakeholders, and experts to discuss key issues affecting the industry and to share knowledge that will shape the future of real estate in Nigeria.
He further pointed out the need for innovative financial models to enhance housing affordability and to assess the financial impact of infrastructure developments, alongside the effects of environmental sustainability and governance on the real estate sector.