A private real estate developer, TAF Africa Global, has called for a coordinated approach involving government, financiers and developers to address Nigeria’s housing deficit amid prevailing economic headwinds.

The Managing Director of the company, Mr Mustapha Njie, made the call during the commissioning of 1,000 homes under Phase One of the Greater TAF City project, located along the Obirikwere–Airport Road in Port Harcourt, Rivers State.

Speaking at the event, which was attended by top government officials, community leaders and industry stakeholders, Njie said solving Nigeria’s housing challenge requires deliberate collaboration across the construction, policy and housing finance value chain.

He urged governments at all levels to introduce targeted incentives, including tax breaks and supportive fiscal policies, for stakeholders in the construction industry, noting that such measures would ease production costs and have a direct impact on housing prices.

According to him, the cost of housing is closely linked to the cost of construction and building materials, stressing that any meaningful reduction in house prices must begin with lowering these underlying costs.

Njie also emphasised the need to expand access to mortgage financing, explaining that improved mortgage penetration would boost effective demand, enable developers to build at scale and unlock economies of scale.

“With better mortgage penetration and supportive fiscal policies, developers can enjoy economies of scale, and that will reflect positively on housing affordability for Nigerians,” he said.

The TAF Africa boss reaffirmed that housing delivery at the Greater TAF City remains an ongoing and phased exercise, noting that construction activities did not stop with the completion of the first 1,000 homes. According to him, the plan is to deliver several housing units in the coming years.

On how the company is navigating inflationary pressures and the current economic climate, Njie acknowledged that TAF Africa has also been affected by rising costs. However, he said the firm’s strong brand reputation and consistent delivery record have helped cushion the impact.

“Like others in the sector, we are affected by inflation and rising costs. However, our record of keeping promises has earned us strong patronage, which allows us to benefit from economies of scale that help moderate some of these pressures,” he said.

Providing further insight into the project, Njie explained that the Greater TAF City is a specially planned mixed-use development, designed as a live, work and play city. The project is being developed by Greater TAF Nigeria Limited, a joint venture between Pricewise Homes Ltd (TAF Africa Global Ltd) and the Greater Port Harcourt City Development Authority, an agency of the Rivers State Government.

The city is located within the Greater Port Harcourt area on about four expanses of land totalling approximately 1,000 hectares, with one of the major sites situated along the Airport Road, opposite the Omega Power Ministry (OPM) Headquarters.

When completed, the master-planned city is expected to comprise about 3,000 units of affordable homes across varying price ranges and housing types, including two-bedroom bungalows, three-bedroom bungalows and four-bedroom duplexes.

The development is also designed with modern infrastructure and sustainability features, including excellent water and sewage reticulation systems, constant electricity supply supported by generators and solar power, biodigester sewage systems, paved road networks, reliable internet connectivity, solar street lighting, green areas, gardens, wellness centres and public open spaces.

Reaffirming the company’s long-term commitment, Njie stressed that the commissioning of the 1,000 homes under Phase One does not mark the end of construction activities, but rather a foundation for expanded housing delivery, economic activity and sustainable urban development.

“This is only the beginning, a foundation for thousands more homes, thriving businesses and flourishing families,” he said, reiterating TAF Africa Global’s vision of delivering one million homes across Africa.