Nigeria would require an estimated N60 trillion to construct mass housing capable of reducing the country’s widening housing deficit, according to Idris Ali Sani, Director of the Federal Department of Cooperatives.
Sani made the disclosure at a housing summit in Abuja, stressing the urgent need for developers, the Federal Ministry of Housing and Urban Development, and other stakeholders to prioritise the use of locally sourced raw materials for home construction.
He explained that a shift to indigenous materials is critical for meeting growing demand, lowering construction costs, and addressing accommodation challenges faced by residents in major cities such as Abuja and Lagos.
“If the federal and state governments genuinely intend to deliver affordable homes, they must stop relying on imported building materials from China and focus squarely on local content,” he said.
Sani added that with Nigeria’s estimated 20 million housing deficit, current annual delivery of about 10,000 housing units is severely inadequate. He warned that the country still has a long journey ahead if it hopes to significantly reduce its housing shortfall.
Convener of the summit, Dr. Saheed K.Y. Adelakun, also stressed the need for a major shift in housing delivery.
He noted that although government agencies and private developers are involved in building affordable homes, the real priority should be lowering construction costs and designing units that reflect the needs of the Nigerian market.
“We are committed to bringing critical stakeholders together to brainstorm and open up opportunities that can reduce housing costs by up to 50 percent. A functional savings system is also necessary to enable citizens access homes more easily,” Adelakun said.
