FG Committed To Solving Housing Deficit, Says Minister

The Federal Government is committed and passionate about solving housing deficit in the country. The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, made the pledge when he received Governor Dikko Radda of Katsina State in Abuja. “Since independence, Nigeria has struggled to provide decent housing for its citizens. “In spite of numerous plans, initiatives, projects, and institutions introduced over the past 60 years, progress has been limited. “With rapid population growth, these unsuccessful or suboptimal efforts have led to the accumulation of a significant housing shortage,’’ the minister said. Dangiwa said, the housing sector remains far from where it should be in terms of meeting the needs of millions of Nigerians for decent shelter while contributing as a catalyst for economic growth, job creation, and poverty eradication. “This is the challenge that President Bola Tinubu has put on my shoulders. With the grace of Allah, I am committed to putting in the hard work necessary to break the jinx of failure and achieve historic success. “As part of our efforts to achieve this, we have outlined a series of housing reform initiatives in line with the Renewed Hope Agenda for Housing and Urban Development of President Tinubu. “We plan to embark on a Stakeholder Engagement Drive with State Governors nationwide towards achieving it. Commending the governor for his achievements within a short time, Dangiwa solicited the support of the indigenes of Katsina to ensure the Radda-led administration transforms the state. ‘His tireless efforts in improving security, education, agriculture, infrastructural development, and the welfare of our citizens is a testament to his vision for a prosperous Katsina. ‘As a fellow son of Katsina state, I am immensely proud of the momentum of achievements that he has recorded in such a short time and I pray to the Almighty to continue to grant him the wisdom, understanding, and good health to transform our state. “As the Minister of Housing and Urban Development, I approach my work with the full understanding of the huge responsibility that accompanies it,’ he said. Read also: The minister encouraged Governor Radda to deepen collaboration with key housing agencies, including the Federal Mortgage Bank of Nigeria, Federal Housing Authority, and the Family Homes Funds, to increase access to affordable housing for Katsina indigenes. Earlier, Radda said that the provision of affordable housing remains part of its priority programmes to improve the lives of its citizens. According to the governor, Katsina state is ready to collaborate with the Ministry of Housing and Urban Development to open the cities in the state. “Urban renewal is one of the major priority of our administration. “We want to expand our city, we are in the process of developing Katsina master plan which has expired in the last 30 years. “So, urban renewal is one of the major focus of our administration and affordable housing to serve the people. “So, we are thinking collaboration with the Housing and Urban Development Ministry to tap from your experiences to help us in achieving our goal of renewing our cities and towns in the state,’’ Radda said. 

Landlur targets Africans in diaspora to mitigate housing deficit in Nigeria 

Pan African housing development agency, Landlur, is targeting Africans in the Diaspora to enhance the real estate market across the continent, with Nigeria being the primary focus for now.  Speaking to newsmen at a press conference on Monday in Abuja, where he shared insights on innovative solutions for addressing Africa’s housing deficit, the CEO & Founder of Landlur, Mr. Dipo Adesina, said over 170 million people of African descent that live all over the world present a formidable resource pool for the continent’s infrastructure development, including housing. Mr Adesina said that the idea of Landlur was birthed from seeing Africans in the diaspora wanting to invest back home but not having a trusted source to work with especially since many have relied on family members and have been disappointed on many occasions. “Landlur’s goal is to bridge the gap between those in Diaspora and the opportunities back home, and real estate is one of the avenues to do that. “Landlur is Africa’s 1st real estate platform that is focused on connecting Africans in the diaspora with profitable real estate opportunities in Africa as a means to boost the housing deficit of Africa while building wealth at the same time. African diaspora populations are growing, as are their savings and the scale of resources available to reinvest in their countries of origin. “The World Bank estimates Africans in the diaspora save about $53 billion per year and, in 2021, recorded remittances reached over $95.6 billion sent to and within Africa,” he said. Top 10 highest recipients of remittance inflows in Africa in 2021 include Nigeria ($19.2 billion), Ghana ($4.5 billion), Kenya ($3.7 billion), Senegal ($2.7 billion), Zimbabwe ($2.0 billion), Democratic Republic of Congo ($1.3 billion), Uganda ($1.1 billion), Mali ($1.1 billion), South Africa ($900 million), and Togo ($700 million). Africa’s top remittance recipients as a proportion of their economies are South Sudan, Lesotho, and Gambia with 35%, 21% and 15% of GDP respectively coming from remittances, according to World Bank statistics. “Part of our long-term strategy is to tap into the diaspora to enhance housing delivery across the country, while our short-term plan is to help our clients secure lands in strategic locations that can be used as a form of investment. Many of the Africans in the diaspora have dreams of doing something back at home and our goal is to help them make their dreams a reality,” Mr Adesina noted. Africa is considered the continent with one of the most rapidly growing urban populations, with over 60% of the urban population in sub-Saharan Africa (SSA) estimated to live in areas categorised as slums and informal settlements. According to the UN, it is projected that the number of Africa’s urban residents will increase to 1.5 billion by 2050, and that Africa will pass the tipping point of 50% urban population around 2035. Currently, Africa has a housing deficit which accounts for at least 56 million units. “This housing deficit is a significant indicator of Africa’s growing infrastructure gap, which can be attributed to lack of sufficient capital to finance the delivery of affordable housing projects, lack of bankable projects, and inefficient risk allocation mechanisms. This is why it’s important to incorporate the diaspora into the affordable housing financing mix. “The African Development Bank estimates that Africa’s infrastructure needs amount to $130-170 billion a year, with a financing gap in the range of $68-$108 billion.  “To date, less than half of this amount is being mobilised, leaving a financing gap in the range $68-$108 billion,” Mr. Adesina said. He explained that all Landlur’s estates are going to be strategically located in areas where schools, hospitals, airports, etc. are within reach. “Our lands are thoroughly vetted to ensure that they are free from any government acquisition.” “For more information, you can visit our website on www.Landlur.com,” he said.