The housing deficit in Nigeria has almost become a tradition and an unrealizable dream in the provision of houses for Nigerians. Past government has done much to appease the worry of Nigerians in trying to reduce the housing deficit in the country. With the new government of President Ahmad Bola Tinubu and the promises to house million Nigerians, hopes have banged especially as the nation clocks 63.
As Nigeria celebrates her 63rd independent anniversary, much is expected so as to ascertain the determination of this present Government to her citizenry. Recalled, the Vice President, Kassim Shettima in his assurances to Nigerians have once posited saying, “Nigeria has a deficit of 28 million houses and we will need ₦21tn to meet our housing needs”. How would this be realizable as Nigeria celebrates her 63rd anniversary?
In 1991, Nigeria’s housing deficit was at 7 million and rose to 12 million in 2007, 14 million in 2010 and 20 million units in 2018, and in 2023, as Nigeria mark her 63rd anniversary, there is an estimated 28 million housing deficit which beg for serious and urgent attention.
Nigeria housing deficit occurs when the country’s housing units are in limited supply. The causes of this deficit include: lack of favorable government policies, high costs of construction materials, high property costs and lack of access to credit for potential homeowners in Nigeria. The big question is, has the Federal Government readily prepared to beat the fear of Nigerians and raise their hopes of owing houses?
The Ministry of Housing and other key players in the housing sector should stem the tide to make the dream and projection of this government achievable so that Nigeria can celebrate a revamp after 63 years of independence. The government of the day must guarantee that every Nigerian have the right to adequate housing, as enshrined in our constitution, right to development as enshrined in the United Nations Charter for which our country is a signatory. All agencies of government must work tirelessly to get Nigeria back on track, diversify the economy and access new and exciting opportunities that would reduce our housing deficit, support job creation and business.
Since the context of homeownership as a rite of passage into adulthood or a getaway into some select societies or councils of elders in the communities. Hence, more people will continue to aspire for homeownership in Nigeria. The Government can achieve these daunting challenges of housing provision in our country, government and indeed all Nigerian have to break out of the self-imposed and inflicted room and release the positive energy that be of immense benefits for all citizenry. Among the strategies that can be adopted for immediate results and transformation are – Commercialization of FMBN, FHA and other Related Agencies. – Recapitalization of FMBN, FHA and other Related Agencies. -Government policies to focus more on creating an Enabled environment for private sectors.
In conclusion, if government can address these challenges and adequately provide the needed solutions, the benefits are enormous and Nigerians and its economy will be better for it. Among these benefits are: a) Houses will be made available to Nigerians. b) It will reduce the yet to be ascertain National Housing Deficit in Nigeria and increase the National Housing stock. c) Drastically reduce slumps in urban areas centers as well as improving ecological balance. d) Curtailing the Rural-Urban migration which is presently over-stretching the Nations available infrastructure. e) Promoting the creation of more building materials manufacturing in the country as local content will be adhered to and housing will become affordable to home-seekers.