The access to decent and affordable housing is a fundamental human right and a key driver of social stability, economic productivity, and national development. Yet, in Nigeria, the dream of homeownership remains elusive for a large segment of the population, particularly low-income earners.

According to the Federal Mortgage Bank of Nigeria (FMBN), the country currently grapples with a housing deficit of over 20 million units — a crisis that affects the urban and rural poor the most.

Low-income households, comprising artisans, junior civil servants, petty traders, and other informal sector workers, often reside in substandard housing or overcrowded informal settlements with poor infrastructure. These conditions pose not only health and safety risks but also undermines the dignity and productivity of citizens.

Why the housing market fails the poor?
The Nigerian housing market is largely developer-driven, with a focus on profit rather than inclusivity. Most real estate developments target the upper and middle classes, leaving the majority of Nigerians priced out. High cost of building materials, limited access to land, lack of housing finance and weak urban planning regulations further worsen the affordability gap.

Mortgages remain out of reach for many. Commercial interest rates are often above 20 per cent, while most low-income earners lack the formal documentation or stable income required to qualify. This leaves them reliant on the informal rental sector, where housing conditions are often deplorable and tenure security is weak.

The need for robust government intervention
To reverse this trend, government intervention is not only necessary but urgent. Across the world, governments play a critical role in making housing affordable through targeted policies, incentives, and public-private partnerships. Nigeria should be no different.

Some key areas of intervention include:
Mass housing schemes: Governments at all levels must prioritise and invest in affordable housing schemes specifically designed for low-income groups. Recent efforts like the National Social Housing Programme are commendable, but must be expanded and better targeted.
Land use reforms: Access to land remains a critical bottleneck. State governments should simplify and digitise land allocation processes, reduce costs, and designate land banks specifically for low-cost housing development.

Subsidised housing finance: Establishing and strengthening institutions like the Nigeria Mortgage Refinance Company (NMRC) and Family Homes Fund to offer single-digit interest loans will significantly improve access to housing finance for the poor.

Public-Private Partnerships (PPPs): Government can incentivise private developers through tax waivers, grants, or infrastructure support to build for the low-income segment. PPPs have proven effective in countries like Kenya and India.

Urban renewal and slum upgrading: Rather than displacing informal settlements, government should implement participatory slum upgrading programs that improve infrastructure and formalise tenure for existing low-income residents.

Rent-to-own schemes: These models, where occupants gradually acquire ownership over time, provide a pathway for homeownership for those who cannot pay upfront.

A call for political will and institutional coordination
The challenge of housing affordability for low-income earners is not insurmountable. What is required is sustained political will, inter-agency collaboration, and a people-centred approach to housing development. Policymakers must view housing not just as a commodity, but as a vital social good and a platform for inclusive growth.

As an Estate Surveyor and Valuer, I firmly believe that the profession has a role to play in shaping housing policy, promoting sustainable urban development, and ensuring that our housing solutions reflect equity, dignity, and affordability for all Nigerians — regardless of income.

In building a Nigeria where no one is left behind, we must make affordable housing a national priority.
Ademuyiwa, a registered Estate Surveyor and Valuer, wrote from Abuja.