The rising price of cement is putting more pressure on Nigeria’s housing market as construction costs increase and homeownership becomes harder for many Nigerians.

The price of a 50kg bag of Dangote Cement has reportedly climbed above N15,000 in some locations. The development comes while the Federal Competition and Consumer Protection Commission investigates pricing in the cement industry.

Construction professionals have called for urgent action to improve supply, increase competition and ensure greater transparency in cement pricing.

Experts Raise Concern Over Housing Costs

Amusan Oluseyi, Principal Partner at Space Button Architecture Limited, said the recent price increases were difficult to explain given Nigeria’s large limestone deposits and cement production capacity.

He said Nigeria has an estimated cement production capacity of between 60 million and 65 million metric tonnes each year. Domestic consumption, however, stands at about 25 million to 30 million metric tonnes.

Amusan urged the FCCPC to take steps that would protect Nigerians who want to build their own homes.

He also warned that cement price volatility was affecting more than construction budgets. According to him, higher cement costs are raising the cost and value of housing while putting additional pressure on rents.

The architect also called for greater use of alternative building materials. He said the government could support research and commercial production of construction methods that rely less on cement.

He cited laterite-based materials, including Latcrete blocks developed by Nigerian architect and artist Demas Nwoko, as one possible alternative.

Supply Shortage Drives Recent Spike

Soji Adeniji, Chairman of the Lagos Chamber of Commerce and Industry’s Engineering and Construction Group, offered a different view of the latest price increase.

Adeniji said the market was facing a temporary shortage rather than a new official price from cement manufacturers.

He linked the shortage to recent maintenance work at a Dangote Cement plant and access restrictions affecting some material depots.

According to him, these challenges reduced the quantity of cement available to distributors. The limited supply then allowed some players in the distribution chain to raise prices.

Adeniji expects prices to ease once more cement reaches the market.

He also said he had not received an official notice from Dangote Cement announcing a new price. He therefore argued that the current prices in some locations should not automatically be treated as an official manufacturer price increase.

Energy and Logistics Add to Costs

John Agbezin, Public Relations Secretary of the Nigerian Institute of Quantity Surveyors, identified several factors that affect cement prices.

These include energy costs, foreign exchange movements, transportation, insecurity and multiple taxes.

Agbezin said manufacturers rely on diesel and gas to operate their plants. Rising energy costs therefore increase production expenses.

Foreign exchange pressures also affect the sector. Some imported inputs, including diesel additives and coal, are priced in foreign currency and add to manufacturers’ costs.

Transportation creates another challenge. Poor roads and insecurity can force truck drivers to take longer routes to avoid unsafe areas.

Agbezin said longer journeys can add significant costs to the final price of a bag of cement.

Infrastructure Projects Increase Demand

Agbezin also pointed to strong demand from major infrastructure projects.

He said large projects can absorb substantial quantities of cement. Suppliers may therefore struggle to meet demand from smaller construction projects and individual developers when supplies become tight.

The situation could create additional pressure for Nigerians building homes, especially those working with limited budgets.

For developers, sudden changes in cement prices can also make project planning more difficult. Higher material costs may affect construction timelines, development budgets and the final price of properties.

Calls for More Competition

Agbezin urged the FCCPC to complete its investigation into the cement industry and publish its findings.

He also called for action against cartels if the investigation establishes evidence of anti-competitive practices.

Greater transparency across the supply chain is another priority. Agbezin said manufacturers and distributors should provide clearer information about factory, wholesale and retail prices.

He also called for more competition in the cement industry. In addition to Dangote Cement, BUA and Lafarge, he said Nigeria should encourage more investment and production capacity.

More competition could give buyers greater choice and reduce the risk of supply disruptions affecting prices.

Impact on Nigeria’s Housing Crisis

The cement market matters directly to Nigeria’s housing sector because cement remains an important construction material.

When cement prices rise sharply, developers and individuals face higher building costs. Developers may pass some of these costs to buyers through higher property prices.

Higher construction costs can also affect rental housing. When it becomes more expensive to develop new properties, landlords and developers may seek higher returns to recover their investment.

The latest price surge has therefore added another challenge to Nigeria’s housing affordability problem.

While some industry operators believe the current increase may result from temporary supply shortages, sustained price volatility could make it harder for households to plan and finance home construction.

Greater supply, stronger competition, transparent pricing and lower production and logistics costs could help bring more stability to the market.

For Nigeria’s housing sector, a more predictable cement market would provide greater certainty for developers, contractors and prospective homeowners.

The post Cement Price Surge Worsens Nigeria’s Housing Affordability Crisis appeared first on Housing TV Africa.

By Adebayo Tobi

Nigeria’s housing conversation has focused heavily on one question: How many homes does the country need to build?

With the country facing a housing deficit estimated at more than 28 million units, increasing housing supply is clearly important. But there is another question that deserves just as much attention: How many Nigerians can actually afford the homes being delivered?

That question could define the next phase of Nigeria’s housing and real estate market.

Across Lagos, Abuja, Port Harcourt, Ibadan and other growing urban centres, residential development continues to expand. New estates, apartments and gated communities are appearing in areas where demand for housing remains strong.

Yet a growing number of Nigerians are finding themselves priced out of homeownership.

READ ALSO : Why Government JVs Struggle to Deliver Affordable Housing in Nigeria

The house may exist, but can people afford it?

Housing affordability is not simply about the price attached to a property.

For a prospective homeowner, affordability also depends on income, mortgage rates, deposit requirements, land costs, construction expenses, transportation, infrastructure charges and the general cost of living.

This means that a property can be technically available without being financially accessible.

A young professional may have a stable income and still struggle to raise the required deposit. A family may be able to afford monthly payments but not the initial equity contribution. Another household may find a property within its budget but reject it because its location creates unaffordable transportation costs.

These realities show why Nigeria’s housing challenge cannot be solved by construction alone.

The affordability gap is widening

The cost of delivering housing has become a major concern for developers and buyers.

Land, building materials, labour, infrastructure and financing all influence the final price of a property. When these costs rise, developers face pressure to increase selling prices or reduce the scale and specifications of projects.

Buyers, meanwhile, are dealing with household incomes that may not increase at the same pace as property prices.

This creates what can be described as an affordability gap  the distance between the cost of available housing and what households can realistically pay.

Closing that gap should become a central part of Nigeria’s housing conversation.

Developers must understand the real market

The private sector has an important role to play.

Developers naturally respond to market opportunities, and there will always be demand for premium residential developments. But Nigeria also needs housing products designed around the purchasing power of the broader population.

The question should not only be, “What can we build?”

It should also be:

“Who is the intended buyer, and can that buyer realistically afford it?”

This requires developers to pay closer attention to housing design, location, construction methods, infrastructure costs and payment structures.

Smaller but well-planned homes, efficient designs and phased developments could provide alternative ways of reducing the entry cost for some buyers.

Financing remains a critical piece

Even where property prices are relatively manageable, access to long-term housing finance remains important.

For many households, homeownership cannot be achieved through savings alone. A functioning mortgage market, longer repayment periods and suitable financing products can help spread the cost of purchasing a home over a period that is more consistent with household income.

Developers and financial institutions also have room to explore innovative payment models that can make property acquisition more accessible.

The objective should be simple: make the journey to homeownership financially realistic.

Government also has a role

The affordability challenge cannot be left entirely to developers.

Government policies on land, taxation, infrastructure, planning, building regulation and housing finance can significantly influence the cost of delivering homes.

Efficient land administration can reduce delays and uncertainty. Better infrastructure planning can reduce the burden developers pass on to buyers. Clear and predictable regulations can also improve the environment for housing investment.

At the same time, housing policy must recognise that affordable housing is not simply about constructing cheaper buildings. It is about creating communities where people can live safely and sustainably without housing consuming an unreasonable share of their income.

The opportunity in Nigeria’s housing market

Nigeria’s housing challenge is enormous, but so is the opportunity.

Millions of people need decent homes, while developers, investors, financial institutions and construction professionals are searching for sustainable opportunities.

The market can bring these interests together if affordability becomes a stronger part of the development equation.

Nigeria does not only need more houses.

It needs more homes that ordinary working Nigerians can realistically aspire to own.

The future of the housing industry should therefore be measured not only by the number of units delivered, but also by whether those units create genuine pathways to homeownership.

The biggest opportunity may be found in the space between what Nigerians need, what they earn, and what the market currently offers.

Bridging that gap will require collaboration, innovation and a willingness to rethink conventional approaches to housing delivery.

The post Nigeria’s Housing Market Needs Homes People Can Actually Afford appeared first on Housing TV Africa.

Nigeria’s housing crisis is deepening as rents rise faster than the income of many households. The problem is most visible in Lagos, where a large housing shortage continues to push up rental costs.

The crisis goes beyond a lack of houses. Many Nigerians also live in overcrowded homes or buildings without basic services. This makes access to safe and decent housing an urgent economic and social issue.

Nigeria’s Housing Deficit Remains High

The Federal Ministry of Housing and Urban Development estimates Nigeria’s housing deficit at between 14.9 million and 15.2 million units as of early 2026.

The figure is lower than earlier estimates of more than 20 million units. However, it still shows a major gap between housing supply and demand.

The shortage also includes homes that do not meet basic standards. Poor building quality, overcrowding and limited access to basic services remain part of the problem.

Lagos Faces Severe Housing Pressure

Lagos has one of the clearest examples of Nigeria’s housing challenge. The state’s housing deficit is estimated at more than 3.4 million units.

The city continues to attract people seeking jobs and business opportunities. However, housing supply has not grown fast enough to meet demand.

Rents have therefore increased across many parts of the state. A basic self-contained apartment can now cost between ₦1 million and ₦1.5 million a year in areas such as Ajegunle, Ikorodu and Agege.

For many low-income workers and small business owners, these prices are difficult to sustain. High rent can take a large share of household income and leave little money for other needs.

High Construction Costs Push Up Rents

The cost of building homes is another major factor behind rising rents.

Prices of cement, iron rods, roofing materials and other building inputs have increased. Inflation and the depreciation of the naira have added to the pressure on developers.

Industrialist Aliko Dangote has also raised concerns about government charges in the cement value chain. He claimed that such charges account for as much as 56 kobo of every ₦1 earned from cement sales.

Higher production and development costs can eventually affect the price of homes. Developers may pass part of these costs to buyers and tenants through higher property prices and rents.

Land Costs and Informal Charges Add Pressure

The cost of acquiring and developing land is another challenge for Nigeria’s housing sector.

Land documentation can be slow and expensive. Land grabbing and property racketeering can also increase acquisition costs and create risks for genuine developers.

Informal charges can add to the burden. Local groups may demand payments before construction materials are discharged at development sites.

Estate agents can also add significant costs for tenants. The source notes that some agents charge as much as 20 per cent of annual rent as commission.

Regulation Remains a Challenge

Building regulation is another part of the housing problem.

The Lagos State Building Control Agency is responsible for enforcing building standards. However, concerns over inconsistent enforcement and alleged corruption have been raised.

Developers can also face several approval processes and informal payments. These additional costs may eventually affect the price of housing.

More efficient building approvals could help reduce delays and lower development costs. Strong enforcement is also needed to ensure that new homes meet safety standards.

Housing Supply Is Not Meeting Demand

Population growth and migration continue to increase demand for housing in Lagos.

At the same time, private developers face high construction costs and limited access to affordable finance. Many therefore focus on higher-value properties that offer stronger returns.

This can leave low- and middle-income households with fewer affordable options.

Government housing programmes can help close this gap. However, affordable housing needs to be delivered at a scale that matches the size of the demand.

Rising Rent Has Wider Economic Effects

The impact of high rent extends beyond the housing market.

When households spend more on accommodation, they have less money for food, education and healthcare. Housing instability can also affect family welfare and economic productivity.

This means Nigeria’s housing crisis is also an economic issue. High housing costs can reduce household spending power and make it harder for workers to build financial security.

Lagos Tenancy Law Offers Some Protection

Recent tenancy legislation in Lagos seeks to address some problems faced by tenants. These include excessive advance rent demands and arbitrary evictions.

However, tenancy rules alone cannot solve the housing shortage.

More homes must be built, while access to housing finance must improve. Land administration and building approval processes also need to become faster and more transparent.

Technology Could Improve the Rental Market

Technology could help make the rental market more transparent.

A central digital platform for rent payments and tenancy records could improve accountability. It could also make it easier to track transactions between landlords, agents and tenants.

Rent controls may also provide relief in some areas. However, such measures must be carefully designed. Poorly designed controls could reduce private investment and make the housing shortage worse.

Affordable Housing Requires More Investment

Nigeria needs greater investment in affordable housing for low- and middle-income households.

Public-private partnerships could support this goal if projects are designed around clear social and housing objectives. Government can also reduce construction costs through tax reforms and incentives for local production.

Better supply chains could further reduce the cost of building materials. Affordable housing finance would also make it easier for more Nigerians to rent or buy decent homes.

A Wider Housing Reform Is Needed

Nigeria’s housing challenge cannot be solved by building houses alone.

Land administration, construction costs, building regulation, housing finance and rental practices all affect the final cost of housing.

As rents continue to rise, the need for coordinated action is becoming more urgent. Expanding affordable housing supply while improving regulation and access to finance will be critical to making decent housing more accessible to Nigerians.

The post Nigeria Housing Crisis: Rising Rents Put Millions Under Pressure appeared first on Housing TV Africa.

Fresh calls for affordable housing have emerged as religious leaders, legal advocates and housing stakeholders urge stronger action to address Nigeria’s growing housing shortage.

General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adejare Adeboye, used the church’s August Thanksgiving Service to pray for estate developers and Nigerians seeking decent housing. During the service, he encouraged worshippers around the world to pray that God would empower developers to build homes that ordinary Nigerians can afford.

Pastor Adeboye also prayed for tenants, asking that they receive the resources needed to build or purchase their own homes. His message reflected growing concern over the country’s housing deficit and the increasing difficulty many families face in securing decent accommodation.

Housing Costs Continue to Outpace Workers’ Income

The renewed attention comes as millions of Nigerians continue to struggle with access to affordable housing. Estimates indicate that more than 15 million people remain without adequate housing, while rising construction costs and limited housing finance continue to widen the gap between demand and supply.

Current prices within the Federal Government’s Renewed Hope Estates illustrate the affordability challenge. One-bedroom homes are priced at about ₦8.5 million, while two-bedroom units cost around ₦12 million. These figures stand in sharp contrast to the national minimum wage of ₦70,000 per month, making home ownership difficult for many low-income earners.

Falana Calls on Labour to Demand Housing Rights

Senior Advocate of Nigeria and human rights lawyer, Femi Falana, has also urged organised labour to expand its advocacy beyond wage negotiations by demanding the full implementation of housing and social welfare policies.

Speaking at a symposium in Abuja, Falana argued that workers’ welfare should include access to affordable housing, quality healthcare, pensions and other social protection programmes. He said these benefits are essential to improving living standards and ensuring long-term economic security.

Falana specifically called for the enforcement of the National Housing Act. He noted that workers contribute three per cent of their monthly earnings to the National Housing Fund with the expectation of accessing affordable homes. However, he questioned why many contributors have not benefited from the scheme despite years of deductions.

He urged labour unions to demand greater accountability and ensure governments implement existing housing policies that support workers.

Stakeholders Seek Stronger Housing Policies

Housing professionals and industry stakeholders have echoed similar concerns, saying affordable housing should become a national development priority.

During discussions at the African International Housing Show (AIHS), experts urged governments to increase investment in affordable housing and supporting infrastructure. They also called for policies that prioritise low-income households, informal sector workers, women and vulnerable groups.

Participants identified several barriers to affordable housing delivery, including rapid population growth, urbanisation, insecurity, climate change, weak urban planning, limited infrastructure and inadequate housing finance.

According to the stakeholders, many low-income families often settle in unsafe or poorly serviced communities because they have few housing options. They warned that inadequate housing contributes to poverty, social exclusion and rising insecurity.

Experts Recommend New Financing Models

Industry stakeholders also recommended practical measures to improve access to affordable homes. They called for the development of a National Affordable Housing Strategy with measurable annual housing delivery targets.

The experts urged governments to increase budget allocations for housing while encouraging stronger partnerships with pension funds, insurance companies

sovereign wealth funds and private investors to finance large-scale housing projects.

They also recommended that mortgage institutions introduce financing products designed specifically for informal sector workers by adopting alternative methods of assessing income. In addition, they said housing cooperatives should play a larger role in expanding affordable home ownership across Nigeria and other African countries.

Affordable Housing Remains Central to National Development

The growing support from religious leaders, labour advocates and housing professionals highlights the increasing urgency of Nigeria’s housing challenge. While stakeholders continue to propose different solutions, many agree that stronger policy implementation, improved housing finance and closer collaboration between government and the private sector will be necessary to make affordable housing accessible to millions of Nigerians.

The post Adeboye, Falana Renew Calls for Affordable Housing as Nigeria’s Housing Crisis Deepens appeared first on Housing TV Africa.

Nigeria’s worsening economic conditions and rapidly rising rental costs are forcing millions of households out of affordable housing, with many families spending a significant share of their income on accommodation. Housing experts warn that the country’s growing affordability crisis is widening inequality and placing additional pressure on urban communities.

According to housing analysts, rapid urbanisation, a persistent housing deficit, inflation, and rising construction costs have combined to push rents beyond the reach of many low- and middle-income earners. As demand for housing continues to outpace supply, landlords have increased rental prices across major cities, leaving many Nigerians struggling to secure decent accommodation.

Experts recommend that households should spend no more than 30 per cent of their income on housing. However, many Nigerian families now spend well above that threshold, reducing their ability to meet other essential needs such as healthcare, education, transportation, and savings. The situation has become particularly difficult for civil servants, artisans, small business owners, and young professionals living in urban centres.

Industry stakeholders argue that addressing the affordability crisis will require increased investment in affordable housing, easier access to mortgage financing, improved urban planning, and policies that encourage private sector participation in residential development. They also emphasise the importance of expanding housing supply to match the country’s growing population and urbanisation rate.

Real estate professionals further noted that stabilising inflation, reducing construction costs, and strengthening land administration systems would help improve housing affordability over the long term. They believe coordinated efforts between government agencies, developers, financial institutions, and investors are necessary to create a more sustainable housing market.

As economic pressures persist, experts warn that Nigeria’s housing affordability challenge could deepen unless comprehensive reforms are implemented to increase housing supply, improve access to finance, and make homeownership and rental accommodation more accessible for millions of citizens.

The post Rising Rents and Economic Pressures Push More Nigerians Out of Affordable Housing appeared first on Housing TV Africa.

House rent and agent palaver have become a national scandal as rising rents, increasing construction costs, and alleged exploitation by agents continue to put immense pressure on millions of Nigerian tenants. A public affairs analyst, Moshood Oshunfurewa, warned that the country’s housing challenges now require urgent policy attention and stronger regulatory intervention.

According to the analyst, the cost of building materials such as cement, sand, roofing sheets, and timber has risen sharply over the past few years, making home construction increasingly difficult for average Nigerians. The surge in construction costs has also contributed to significant increases in rental prices across Lagos and other urban centres.

He noted that rental prices in several parts of Lagos have increased substantially over the last five years, widening the gap between household incomes and the cost of securing decent accommodation. The situation has become particularly difficult for low-income earners and workers in the informal sector whose incomes have not kept pace with inflation and rising living expenses.

The analyst further alleged that some property agents and landlords have turned the housing market into an exploitative system by charging excessive fees and imposing additional costs on prospective tenants. He argued that weak enforcement of tenancy regulations has allowed such practices to persist, making access to affordable housing increasingly challenging for many residents.

He called for reforms that would strengthen tenant protections, improve oversight of property transactions, and ensure proper registration of landlords and agents. The recommendations include stricter implementation of tenancy laws and measures to promote transparency within the rental market.

The housing expert also advocated increased government involvement in affordable housing development, stressing that expanding access to low-cost homes and making building materials more affordable would help reduce pressure on tenants and improve housing availability.

Industry observers say Nigeria’s housing deficit, coupled with inflation and rapid urbanisation, continues to intensify demand for affordable accommodation. They maintain that effective regulation and increased investment in housing infrastructure will be essential to addressing the country’s long-standing housing challenges.

The post House Rent and Agent Palaver a National Scandal appeared first on Housing TV Africa.

The Lagos State Government has raised concerns over Nigeria’s worsening housing crisis, warning that the country’s housing deficit could climb to nearly 28 million units if current intervention efforts are not accelerated.

The Commissioner for Housing, Hon. Moruf Akinderu-Fatai, disclosed that findings by the National Housing Data Technical Committee, inaugurated by the Federal Ministry of Housing and Urban Development, placed Nigeria’s official housing deficit at 14.925 million units.

Over 15 Million Homes Classified as Substandard

According to the commissioner, the challenge extends beyond the housing shortage, as an additional 15.2 million homes across the country have been identified as structurally defective or substandard.

He explained that when the number of inadequate housing units is combined with the existing deficit, Nigeria’s effective housing gap rises to nearly 28 million units.

Akinderu-Fatai warned that the growing deficit poses significant threats to economic development, urban planning, infrastructure delivery, and social stability across the country.

Lagos Remains the Epicentre of Housing Demand

The commissioner noted that Lagos State continues to experience the highest housing demand in Nigeria due to its rapidly expanding population and economic opportunities.

With an estimated population exceeding 17.8 million residents and an annual population growth rate of approximately 3.8 per cent, Lagos remains under intense housing pressure.

He attributed the challenge to rapid urbanisation, continuous rural-to-urban migration, and limited land availability within the state.

Independent estimates place Lagos State’s housing deficit at more than 3.3 million units, with the shortage particularly pronounced among low- and middle-income earners.

Affordable Housing Remains a Major Challenge

Akinderu-Fatai stressed that affordability remains one of the biggest barriers to homeownership for many Nigerians.

He explained that demand for affordable housing continues to outpace supply, especially in urban centres where rising construction costs and land prices have pushed housing beyond the reach of many households.

Federal Government Expands Housing Finance Initiatives

The commissioner highlighted several Federal Government interventions aimed at addressing the housing crisis.

Among them is the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which provides mortgage financing at a single-digit interest rate of 9.75 per cent and repayment tenures of up to 20 years.

According to him, such initiatives are designed to improve access to housing finance and support homeownership across different income groups.

Lagos Delivers Over 10,000 Housing Units

Akinderu-Fatai disclosed that the Lagos State Government has delivered 10,623 housing units over the past seven years through a combination of direct government investment and Public-Private Partnership (PPP) arrangements.

He added that ongoing housing projects across the state are expected to increase the number of delivered units to more than 14,000 before the end of 2026.

The commissioner reiterated the state government’s commitment to expanding affordable housing opportunities and reducing barriers to homeownership.

Housing Projects Driving Economic Growth

Beyond addressing accommodation needs, Akinderu-Fatai noted that housing developments have become a major driver of economic activity within Lagos.

He said investments in housing projects are creating employment opportunities, stimulating the construction sector, and boosting growth across the broader real estate value chain.

According to him, sustained collaboration between government and private sector stakeholders remains critical to closing the housing gap and ensuring access to decent, affordable housing for Nigerians.

The post Nigeria’s Housing Deficit Could Reach 28 Million Units, Lagos Government Warns appeared first on Housing TV Africa.

Professor of Applied Valuation at the Federal University Oye Ekiti (FUOYE), Professor Isaac Olatunji, has called for a radical transformation of Nigeria’s housing delivery system through data-driven housing choices and long-term tenancy arrangements.

Olatunji made the call while delivering the 24th inaugural lecture of the university titled “Housing Care and Support for Nigerians: Exploring the Optimality Dimension to a Critical Real Estate Decision” at the Victor Ndoma-Egba Auditorium.

The professor argued that housing delivery in Nigeria must move beyond simply providing shelter to adopting scientifically guided systems capable of improving citizens’ well-being and economic stability.

He introduced what he described as the “OPTi Revolution,” a housing decision-support framework built around the Optimality Index (OPTi), which he compared to the globally recognised Moody’s rating system.

According to him, the system uses mathematical analysis to balance income, transport costs, commuting distance, housing quality and family activity patterns in helping Nigerians make informed housing decisions.

“Just as a GPS tells you the fastest route, OPTi tells you the best utility home,” Olatunji said.

“We can keep building 700,000 houses yearly, but if we do not fix how end-users choose them and how long they can stay in them, we are simply building magnets of despair instead of magnets of hope.”

The don lamented that despite several government housing programmes over the years, poverty levels in Nigeria had continued to rise from 54.4 per cent in 2007 to an estimated 63 per cent in 2025.

He maintained that poor housing conditions and urban poverty remain closely connected.

According to findings from his research, about 65 per cent of Abuja’s vulnerable middle class are currently at risk of “housing poverty” because of hidden costs linked to poor housing choices, rising fuel prices and transportation expenses.

Olatunji further disclosed that an average middle-income family in Abuja spends between 15 and 18 months searching for suitable accommodation, describing the delay as a major drain on national productivity.

As part of his recommendations, the professor called for the institutionalisation of Residential Accommodation Procurement counselling under the supervision of the Estate Surveyors and Valuers Registration Board of Nigeria and the Nigerian Institution of Estate Surveyors and Valuers.

He urged estate surveyors and valuers to evolve from conventional house agents into professional housing procurement counsellors capable of using ICT-based tools and data analytics to guide families toward better housing decisions.

The scholar also advocated long-term tenancy arrangements ranging from 16 to 33 years, arguing that tenure security would encourage tenants to invest in housing upgrades and environmental improvements.

According to him, integrating the RAP model with long-term tenancy would create benefits for citizens, professionals and government by improving housing conditions, generating wealth and reducing urban poverty.

Olatunji also called on the Federal Government to institutionalise the OPTi Decision-Support System for public and private housing counselling as part of efforts to achieve the Sustainable Development Goals.

Reacting to the lecture, the Deputy Vice-Chancellor, Strategic Partnerships, Research, Innovation and Linkages at FUOYE, Professor Babatunde Afolabi, commended Olatunji for highlighting critical challenges affecting Nigeria’s housing sector.

Afolabi noted that the lecture identified a national housing deficit estimated at about 15 million units.

“He has been able to highlight the major challenges in the Nigerian housing industry. By his estimate and research over the years, there is about a 15 million housing deficit, which means there is a lot to be done as a nation to bridge the gap,” he said.

He expressed confidence that the recommendations from the lecture would help policymakers and stakeholders address Nigeria’s housing crisis more effectively.

The post FUOYE Professor Advocates Data-Driven Housing System, Long-Term Tenancy in Nigeria appeared first on Housing TV Africa.

Nigeria currently requires about 800,000 new homes annually to keep pace with rapid population growth, with demand projected to rise sharply and potentially triple by 2030, according to fresh housing market research.

Reports released by PAC Research revealed that Nigeria’s housing deficit has now exceeded 28 million units, with Lagos State accounting for an estimated 3.4 million-unit shortfall.

The reports, titled “From Shortage to Opportunity: Unlocking the Billion-Dollar Housing Market” and “Lagos Housing Report: A Treasure Trove of Possibilities,” provide one of the most extensive assessments of Nigeria’s housing sector and emerging investment opportunities.

Despite the widening housing gap, researchers argued that the situation presents significant economic opportunities for investors, developers and policymakers, with the housing market valued at potentially trillions of naira.

The national report, which featured a foreword by the Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, noted that Nigeria currently requires around 800,000 housing units yearly to match population expansion and urbanisation trends.

It projected that housing demand could increase to approximately two million homes annually before the end of the decade.

The report also highlighted Nigeria’s weak mortgage sector, noting that mortgage penetration remains below one per cent of Gross Domestic Product (GDP), compared to 77 per cent in the United States and 31 per cent in South Africa.

“Nigeria stands at a critical juncture where rapid urbanisation and economic transformation converge to create unprecedented opportunities,” the report stated.

Researchers identified several innovative financing models capable of narrowing the housing gap, including Real Estate Investment Trusts (REITs), diaspora-backed mortgage products and the Federal Government’s Renewed Hope Housing Scheme.

A significant section of the study focused on Lagos, Nigeria’s economic centre, which reportedly attracts more than 475,000 new residents annually.

According to the findings, Lagos currently has an estimated housing stock of 1.49 million units against demand estimated at 4.69 million units, creating an accessible market gap of approximately 2.81 million units.

The report also observed changing housing preferences among residents, with more than 52 per cent reportedly favouring one-bedroom and two-bedroom apartments due to affordability concerns and lifestyle trends.

Researchers noted that demand for compact housing units continues to rise across major urban areas.

The study further identified strong rental returns in prime locations including Lekki and Victoria Island, noting that three-bedroom apartments in Victoria Island can attract annual rents of up to ₦18 million.

To address the housing shortage, PAC Research recommended broader adoption of incremental housing models, expansion of housing finance access, and stronger public-private partnerships to accelerate delivery.

Describing the report as a timely intervention, Osidi said it should serve as a wake-up call for stakeholders.

“This report is more than an analysis — it is a call to action. The time to invest in Nigeria’s housing market is now. The rewards extend beyond financial returns to include inclusive growth and urban resilience,” he said.

Also speaking, the Oniru of Iruland and former Lagos State Commissioner for Housing, Oba Abdulwasiu Lawal, described the Lagos-focused report as an important guide for real estate investors and stakeholders.

He noted that emerging corridors such as Lekki, Ajah and Epe are increasingly becoming strategic destinations for future housing investments.

The post Nigeria Needs 800,000 New Homes Yearly as Housing Deficit Surpasses 28 Million — Report appeared first on Housing TV Africa.

The House of Representatives has commenced moves to investigate the continuous increase in the prices of building materials across Nigeria, warning that the trend is deepening the nation’s housing crisis and making home ownership increasingly difficult for millions of citizens.

The resolution followed the adoption of a motion presented during plenary by Hon. Oboku Abonsizibe Oforji, who raised concerns over the sharp rise in the cost of essential construction materials despite Nigeria’s abundance of local raw materials used for building production.

Oforji noted that Nigeria is richly endowed with resources such as limestone, timber, sand, and granite, which are major components in the production of cement and other construction materials. However, he said Nigerians continue to grapple with soaring construction costs that are affecting both private and public projects nationwide.

According to the lawmaker, the construction industry remains one of the strongest contributors to Nigeria’s economy, with the sector valued at over N25.7 trillion in 2025 and projected to witness further growth in the coming years.

Despite this growth potential, he lamented that the cost of building materials has continued to rise at an alarming rate.

He disclosed that the price of a 50kg bag of cement, which sold for about N7,500 in late 2025, has increased to between N11,500 and N12,100 in 2026, representing a rise of about 50 to 60 percent within a short period.

The lawmaker further revealed that prices of steel materials have also risen by about 20 percent, while sharp sand recorded an increase of approximately 25 percent. Granite and timber products, according to him, have equally experienced significant price hikes across different parts of the country.

Oforji stressed that the situation has become more worrisome considering that cement prices have risen by more than 300 percent since 2019, when a bag sold between N2,400 and N3,000.

He warned that the persistent increase in construction costs is worsening Nigeria’s housing deficit, which is currently estimated at about 28 million housing units.

According to him, the rising costs are forcing many developers and individuals to abandon building projects while also contributing to the steady increase in rent and property prices nationwide.

He added that the development is negatively impacting government infrastructure projects and causing job losses across the construction sector and related industries.

The lawmaker questioned why construction costs remain excessively high despite the availability of local raw materials, suggesting that possible market manipulation, supply chain inefficiencies, anti-competitive practices, or exploitation within the value chain could be responsible for the trend.

Following deliberations, the House called on the Federal Government, through the Federal Ministry of Housing and Urban Development, the Federal Ministry of Industry, Trade and Investment, and the Federal Competition and Consumer Protection Commission (FCCPC), to investigate the persistent rise in building material prices.

Lawmakers said the investigation should uncover factors responsible for the continuous increase, including possible market distortions and anti-competitive activities within the sector.

The House also resolved to constitute an ad hoc committee to conduct a detailed investigation into the matter and provide recommendations aimed at addressing the growing housing and construction challenges in the country.

The post Reps Launch Probe Into Rising Building Material Costs Over Housing Crisis Concerns appeared first on Housing TV Africa.