The Minister of Housing and Urban Development, Ahmed Dangiwa, said that Nigeria’s housing deficit is a challenge and an opportunity for transformative change in real estate investment in the country.

Dangiwa spoke at the Real Estate Future Forum in Riyadh, Saudi Arabia, highlighting the Nigerian government’s commitment to addressing the housing shortfall through a blend of government finance and strategic public-private partnerships (PPP).

He gave kudos to 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. To bridge this gap, we need to build about 500,000 housing units annually over the next decade,” he said.

The Minister further outlined the country’s ambitious Renewed Hope Cities and Estates Programme, a government-driven initiative to deliver 100,000 housing units in the first phase, saying, they are designed as integrated communities that will cater to all income levels, including high-end residences and affordable units for low- and middle-income earners.

Similarly, he hinted 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.

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, and these hubs are aimed at reducing dependence on imported building materials, lowering construction costs, and driving industrial growth.

Having recognized 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 Minister reaffirmed the government’s dedication to fostering an inclusive and sustainable housing sector and invited stakeholders to collaborate to build a prosperous and resilient urban future for Nigeria.