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‘6.5 billion people may live in cities by 2050’

By Ernest Nzor
15 November 2021   |   3:35 am
The Managing Director, Matrix Courts Limited, Tambaya Suleiman, has said by 2050, over 6.5 billions people are likely to live in cities due to increasing population.

The Managing Director, Matrix Courts Limited, Tambaya Suleiman, has said by 2050, over 6.5 billions people are likely to live in cities due to increasing population.

Suleiman said this during a visit to the construction site of 38-unit eco-friendly homes in Abuja.

He observed that Nigeria’s population grows at 2.55 percent, which put the country’s population in year 2020 at 206 millions, stressing that by the end of 2021, the population would have increased to 211 million.

He urged real estate investors to share the task of addressing the country’s housing shortfall by implementing policies that will enable low-income earners access housing.

Suleiman expressed worries that the housing need would increase by the same ratio to over 400,000 houses, adding that in 10 years, if nothing is done to address the increasing demand, there may be a deficit of about 22 million.

He said: “Number 11 goal of the United Nations Sustainable Development Goals (UNs – SDG) predicts that over 6.5 billion people will be living in cities by Year 2050, this is the time for Nigeria to build sustainable cities and communities that will shelter the population explosion.

“The housing sector has what it takes to create greater number of jobs. We are leveraging on this potential. While creating direct jobs, we want to attract investment that will yield great returns. Apart from providing homes, Matrix Court will serve as manager of funds for people who believe in the potential of the housing sector to yield lucrative returns on investment.”