Rising Costs Hinder Affordable Housing in Nigeria

Azubike Emodi, the Managing Director/Chief Executive Officer of Afriland Properties Plc, stated that rising construction costs, steep financing rates, and regulatory bottlenecks are severely constraining large-scale affordable housing delivery across Nigeria. Speaking at the 20th Africa International Housing Show, he emphasized the need for a comprehensive overhaul of the affordable housing ecosystem to make real estate delivery commercially viable.

Emodi highlighted that homes should align with the purchasing power and aspirations of the people they serve. He urged for coordinated action involving governments, financiers, developers, and policymakers to address the challenges holistically, focusing on cheaper builds, policy reform, and financing options.

Emodi reaffirmed Afriland's commitment to partnering with various stakeholders to advance sustainable urban development and expand access to quality housing. The session included experts and policymakers from across Africa, emphasizing the importance of collaboration in addressing the continent's housing deficit.