Nigeria requires 10 million housing units to close 22million deficit, says NPFPDCC MD
•As firm launches NSHP online platform
Nigeria requires a minimum of 700,000 to 1million housing units every year for probably a decade to close the about 16 to 22 million housing deficits in the country, Managing Director(MD) Nigeria Police Force Property Development and Construction Company (NPFPDCC), Kemi Olomola Sijuade has said.
She said statistics from the National Bureau of Statistics,(NBS) states that the country presently builds an average of only 100,000 housing units per year and only a few working-class Nigerians can afford to buy one.
The MD made the assertion on Wednesday in Abuja, at the media launch of the National Social Housing Programme (NSHP) Model House and Housing Information Portal being implemented by Family Homes Funds Limited (FHFL).
According to her, with the country’s population presently over 200million which is estimated to hit 263million by 2038, the housing deficit problem in the country demands emergency attention and response by all relevant stakeholders in the industry.
“This is why I am particularly very pleased by this occasion of launching the National Social Housing Programme, being implemented by the Family Homes Funds and targeting to construct 300,000 housing units across the country.
“With initiatives and commitments like this, we can all begin to see a ray of hope rising in the horizon towards addressing this unwelcome menace in our country,” she said.
She noted that most housing programmes are not affordable stressing that one of the key ways to increase demand for housing in Nigeria is through the availability of funds to enable ordinary Nigerians, the average income earner, be able to own a home at minimal cost, as against the currently prevalent model where intending home buyers have to save up and make full cash down payments.
She said the way to achieve this is by providing massive and affordable access to mortgage facilities over prolonged tenures.
“If this is achieved and sufficient awareness is created, like what is being done here today with this event, I am convinced that we would see increasing demand for housing in Nigeria.
“And with growing demands owing to availability and access to affordable housing funds, supply will grow as more developers and other stakeholders will confidently invest in the sector knowing that their returns are guaranteed,” she added.
Earlier, Femi Adewale, MD FHFL explained that the newly launched Online Platform will power the National Social Housing Programme, connecting the actual building of the homes to beneficiaries.
He said the platform among other benefits, will enable the allocation of housing in an open and transparent way.
He added: “Individuals can log on the site to register interest in specific projects. For those who are not able to navigate modern technology, we will collaborate with other partners including Mortgage Banks and Cooperative Society to provide assistance.”
Similarly, he said Small And Medium Enterprises (SME) partners will be given the opportunity to build about 20 – 30units of housing initially going on to larger opportunities as they grow.
“We expect to hire about 6000 SME Delivery Partners during the life of the project,” he said.
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