Housing Deficit a Big Opportunity for Transformative Change – Dangiwa 

•    Advocates Public-Private Partnerships at the Saudi Arabia Real Estate Forum

Riyadh, Saudi Arabia – The Honourable Minister of Housing and Urban Development, Federal Republic of Nigeria, Arc. Ahmed Musa Dangiwa, has described Nigeria’s housing deficit as both a challenge and an opportunity for transformative change. 

Speaking on Wednesday 29th January 2025 at the 4th Edition of the Real Estate Future Forum in Riyadh, Saudi Arabia, the Minister highlighted the Nigerian government’s commitment to addressing the housing shortfall through a blend of government finance and strategic public-private partnerships (PPP).

Dangiwa commended the Kingdom of Saudi Arabia for its advancements in housing and urban development, noting that well-planned housing is essential for sustainable urban growth, economic prosperity, and improved living conditions.

“With a housing deficit of over 20 million units and a rapidly growing population, Nigeria presents a vast opportunity for investment in affordable housing,” the Minister stated. “To bridge this gap, we need to build about 500,000 housing units annually over the next decade. 

He outlined Nigeria’s ambitious Renewed Hope Cities and Estates Programme, a government-driven initiative to deliver 100,000 housing units in the first phase. These developments, designed as integrated communities, will cater to all income levels, including high-end residences and affordable units for low- and middle-income earners.

The Hon. Minister emphasized that affordability is central to the programme’s success, with mortgage loans, rent-to-own options, made available through the Federal Mortgage Bank of Nigeria.

Beyond housing construction, Dangiwa listed the government’s plans to establish Building Materials Manufacturing Hubs (BMMHs) in each of Nigeria’s six geo-political zones. These hubs aim to reduce dependence on imported building materials, lower construction costs, and drive industrial growth.

Additionally, he noted that the government is working to implement a Comprehensive Nationwide Social Housing Delivery Programme targeting vulnerable groups, aiming to provide 100,000 social housing units across Nigeria’s 774 Local Government Areas.

Recognizing the scale of investment required, the Minister called on international investors, housing finance institutions, and reputable global developers to partner with the Nigerian government through Public-Private Partnerships. He assured investors of a conducive environment, including access to land, bankable offtake guarantees, and necessary concessions to ensure mutually beneficial collaborations.

“The housing challenge in Nigeria is not just a problem; it is a massive opportunity for investment,” Dangiwa concluded. “By partnering with us, investors can play a crucial role in shaping the future of Nigerian housing while securing substantial returns on investment.”

The Honourable Minister reaffirmed the government’s dedication to fostering an inclusive and sustainable housing sector and invited stakeholders to collaborate in building a prosperous and resilient urban future for Nigeria.

The last day of the Saudi Real Estate Foprum featured presentations from notable international figures such as the former President of the United States, Mr. Bill Clinton, Mr. Tucker Carlson, Global Media Influencer and several other high profile speakers.