According to Victor Onukwugha, president of the Nigerian Housing Corporations Association, the cost of housing units is gradually becoming beyond the reach of people, especially those on low incomes.
Onukwugha revealed this at the opening ceremony of the 6th International Conference on Housing and Exhibitions in Lagos, entitled “Housing in Africa, 2022” with the theme “Sustainable Housing Approaches to Addressing Africa’s Housing Deficits”.
He said: “The main objective of our association is to provide decent accommodation to Nigerians at an affordable cost and that is certainly one of the reasons behind this conference.
“The importance of housing to humans cannot be underestimated, it is the second most basic human need after food. Just as important as housing is to humans, the cost of housing is also gradually moving away from people, especially low-income groups.
“No continent has been spared from the global economic and political crisis, and its impact is reflected in rising prices for almost everything. Housing units are constantly rising and unaffordable, especially in developing economies where people don’t have enough money to buy homes. ”
He noted that recently, Africa’s housing challenges have seemed to defy all solutions.
“These issues include lack of a holistic approach to housing, lack of funding, high cost of building materials, high cost of infrastructure development, implementation of policy directions and affordability challenges,” Onukwugha said.
The AHCN Chair stated that various housing policies have been developed and reviewed in the past, adding that while all theories and ideas have been disseminated and shared in many forums, challenges in housing availability, accessibility and affordability remain prevalent. .
“Certainly, people’s demand for housing is huge and there are many opportunities in construction and housing, but with high demand and low supply, how do we take advantage of those opportunities?