Nigeria needs 700,000 houses per annum to close deficit- Sijuwade
The Nigeria Police Force Development and Construction Company (NPFDCC) Limited has declared that Nigeria needs to build between 700,000 and one million houses per annum for 10 years to bridge its housing deficit.
The Managing Director of NPFDCC, Kemi Olomola-Sijuwade, stated this during the media launching of the sample home and information portal of the National Social Housing Programme in Abuja.
Olomola-Sijuwade also called for the availability of funds to enable Nigerians have access to affordable homes home at minimal costs.
According to her, the housing deficit problem in the country demanded emergency and response from all relevant stakeholders.
She said, “Nigeria has an estimated housing deficit of between 16 to 22 million, and to bridge it, we need to build a minimum of 700,000 to one million housing units every year for probably a decade.
“According to the National Bureau of Statistics, Nigeria presently builds an average of only 100,000 housing units per year and only a few working-class Nigerians can afford to buy one. This ought not to be so.”
She pointed out that the way to achieve affordable housing in Nigeria should be by providing massive and affordable access to mortgage facilities over prolonged tenures.
Olomola-Sijuwade said, “If this is achieved and sufficient awareness is created, like what is being done here today with this event, I am convinced that we will see increasing demand for housing in Nigeria.
“With growing demand owing to availability and access to affordable housing funds, supply will grow as more developers and other stakeholders will confidently invest in the sector knowing that their returns are guaranteed.”
She noted that she was pleased with the launching of the portal because it excellently aligned with the vision and mission of the organisation.
The NPFDCC boss said, “As a company, it is our collective drive to see affordable housing being developed and provided to the men and officers of the Nigeria Police Force as well as the general public, and our daily work is geared towards achieving this goal on an ongoing and sustainable basis.
“I am particularly very pleased by this occasion of launching the National Social Housing Programme, being implemented by the Family Homes Funds and targeting to construct 300,000 housing units across the country.
“With initiatives and commitments like this, we can all begin to see a ray of hope rising in the horizon towards addressing this unwelcome menace in our country. The NPFDCC cannot be happier for the opportunity of being a major developer-partner in this laudable project initiative.”