The Deputy Speaker of the House of Representatives, Mr Benjamin Kalu has called for the collective effort of all stakeholders in the housing sector to fix the inherent challenges, one of which was the massive deficit of units.
Mr Kalu made the call at the 17th Africa International Conference on Housing in Abuja.
The deputy speaker, who was represented by his Chief of Staff, Mr Toby Okechukwu, bemoaned the report of 16. 9 million housing deficit in Nigeria.
He said that the 10th House is willing to work with the stakeholders to meet the people’s housing needs.
The Deputy Speaker said that the report placed Lagos, Ibadan, Kano, and Abuja as cities that have 20 percent rise in housing needs yearly.
He said: “I would like to start with a look at the current state of housing in Nigeria. As you know, it is self evident that we have a huge housing deficit presently in Nigeria. According to a study by researchers at the African Development.
Bank in the ‘Housing Market Dynamics in Africa’, there is a housing deficit of up to 16.9 million units. According to the World Bank, Lagos, Ibadan, Kano, and Abuja, has a 20 percent rise in housing needs yearly. Current total output in the formal housing sector is estimated at no more than 100,000 units. While well corroborated data does not exist, it is clear that the formal sector is only producing a fraction of the total number of urban units needed each year.
He attributed the housing deficit in
Nigeria to rapid urbanization, population growth, and a lack of affordable housing finance.
Expressing his displeasure with the mortgage system that had apparently made it difficult for the common man to own a house, Kalu said that the lawmakers still had a duty of enacting impactful legislations.