Managing Director (MD) of Nigeria Mortgage Refinance Company (NMRC), Mr. Kehinde Ogundimu, has tasked stakeholders in the housing sector to collaborate towards developing reliable housing data for adequacy of homes in the country.
Ogundimu stated this in his remarks on ‘Creating and Maintaining Data Platforms for the Nigerian Housing Market’ at the ongoing Abuja International Housing Show.
According to the MD, stakeholders in the housing sector need to assess the adequacy of housing production in the country in relation to population growth and job creation, without which knowledge and sustainable progress will be difficult.
He also noted the need for information about housing characteristics, including the age of housing stock, number of households and the distribution of one-bed, two-bed and three-bed houses.
Additionally, Ogundimu said it is necessary for the nation to identify flood-prone areas and address other vital aspects.
“We discuss Machine Learning (ML) and Artificial Intelligence (AI) all the time, but without data, there would be no ML or AI. So, the importance of data cannot be over-emphasised.”
Data is arguably the most crucial commodity in today’s world; it has become a new currency. This is why, at NMRC, we take data very seriously, as it is essential for addressing significant needs.
“Moreover, we must identify houses for those who need assistance or support. Understanding neighbourhood variations, especially those facing gentrification, destabilisation or decline, is crucial. We also need to know the number of houses for older adults. The kind of housing they need is different from the type of housing that younger people need,” he stated.
The NMRC boss said the mortgage company has been collaborating with others to champion the gathering, analysis and dissemination of housing data. He further said it has established the Housing Information Portal, which is live and fully functional, adding that it is also working with PropTech companies, and leveraging their interfaces to provide information.
Ogundimu said: “We are also actively engaging with stakeholders on the Nigeria Real Estate Data Collation Programme and the development of a Housing Data Centre.”
