Partnership key to affordable housing, says Big Homes MD

Topsy Essien, MD of Big Homes, calls for partnerships among landowners, manufacturers, and professionals to boost housing development and create jobs in Nigeria. — Topsy Essien is the MD of Big Homes

Topsy Essien, the Managing Director of Big Homes, an Abuja-based real estate firm, has highlighted the importance of partnerships in tackling Nigeria’s housing challenges. Speaking to The Guardian, Essien urged landowners, manufacturers, and professionals in the Federal Capital Territory to collaborate with developers to provide affordable homes and create much-needed employment.

According to Essien, partnerships not only reduce the risks and financial burdens of construction but also amplify the rewards for all stakeholders involved.

“Due to scarce resources, costs are on the rise, and projects are too capital-intensive to pull off without shared resources,” he explained. “We encourage public-private partnerships (PPP) now more than ever. The government must engage the private sector at a new level.”

Essien affirmed that Big Homes is open to partnerships with various stakeholders, including landowners, manufacturers, and professionals, to spearhead projects that can ease housing deficits and create jobs.

Big Homes calls for partnerships among landowners, manufacturers, and professionals to boost housing development and create jobs in Nigeria. — Big Homes urges partnerships among landowners, manufacturers, and professionals to boost housing development and create jobs in Nigeria.

He added, “We are embarking on projects aimed at providing more affordable homes. Collaboration is key to achieving this.”

Essien further criticised financial institutions for their high interest rates and selective lending practices. “Our financial institutions need to do more. Interest rates should come down, and loans should be accessible to those who need them. Focusing on one sector while neglecting others due to perceived risk is counterproductive,” he said.

He also called attention to the irony of landowners and building material vendors still paying rent despite their direct involvement in the sector. “I see landowners paying rent and professionals in our sector doing the same. Partnerships can bridge these gaps, cut costs, and ensure equitable success,” Essien noted.

As Nigeria faces increasing housing demands, Essien’s call for partnerships reflects a viable pathway to addressing the country’s housing deficits while promoting economic growth and stability. With collaborative efforts, the vision of affordable housing for all may be within reach.