As your Real Estate Minister, my primary goal is to see every Nigerian achieve their dream of owning a safe, secure, and affordable home. Unfortunately, this dream remains out of reach for millions due to a critical challenge: our nation’s ever-widening housing deficit.
The numbers paint a stark picture. Since 1991, our housing deficit has ballooned from 7 million units to a staggering 28 million in 2023. Experts, using different data collection methods, argue the actual number could be well over 50 million. This translates to millions of families cramped in inadequate housing, struggling with rising rents, and yearning for a place to call their own.
Nowhere is this struggle more evident than in Lagos, our bustling megacity. Here, the housing deficit surpasses 3 million units, further fueled by a constant influx of residents. With rental costs climbing daily, the dream of secure housing seems distant for many Lagosians.
But I stand before you, not with despair, but with a call to action! This challenge, daunting as it may seem, presents an immense opportunity. The demand for housing is undeniable, and it’s time we bridge the gap between aspiration and reality.
I cannot promise instant solutions, but I can assure you that my ministry is actively working on several fronts. We are streamlining regulations, facilitating access to finance, and encouraging public-private partnerships to unlock the potential of affordable housing projects.
However, government efforts alone cannot bridge this massive gap. I need your partnership, your commitment to be part of the solution.
Are you a young professional saving for your first home? Explore the National Housing Fund and other initiatives designed to make homeownership more accessible.
Are you a seasoned investor? Consider partnering with developers focused on affordable housing projects, not just luxury high-rises.
Are you a homeowner with extra space? Look into responsible rental practices that provide safe and decent accommodation for those in need.
Every action, big or small, contributes to building a healthier housing ecosystem. Remember, owning a home is not just about bricks and mortar; it’s about stability, dignity, and building a brighter future for our families and communities.
Let’s join hands, leverage our collective potential, and bridge the housing gap, brick by brick. Together, we can make the dream of a home a reality for every Nigerian.
Francis Akintola
#ministerofrealestate
I give professional real estate advice, negotiate and help smart investors make profitable real estate investments for high ROI, thereby creating wealthy landlords. My ultimate goal is to help you achieve your property investment portfolio goals.
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