Africa is facing an estimated $1.4 trillion housing finance gap, Nigeria’s Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has said.
Besides, he noted the continent is faced with a housing deficit of no fewer than 50 million units.
The minister reeled out this data during the 7th Africa Housing Awards in Abuja,at the weekend.
According to him, housing crisis remains one of Africa’s most urgent development challenges.
The minister warned that without accelerated solutions, the continent’s housing deficit could rise to about 130 million units by 2030.
Conservatively, he said that
Nigeria’s housing deficit is estimated at over 17 million units, noting that the Federal Government has been responding with scale and systems.
He pointed out that housing could no longer be treated as a peripheral sector, stressing that it sits at the intersection of economic growth, social stability, urban resilience and human dignity.
“Today about 54 million Africans live in urban slums and the continent faces a shortfall of housing of at least 50 million housing units whose housing finance gap is estimated at about over $1.4 trillion dollars.
“So if you do not accept the solution or accelerate the solutions, Africa’s housing deficit is projected to rise to about 130 million units by 2030,” the minister said.
No fewer than 52 individuals, organisations, government bodies were honoured at the event across three categories.
Dangiwa commended the organisers of the Africa International Housing Show for sustaining advocacy and accountability in the sector.
The minister said the Federal Government, under President Bola Ahmed Tinubu’s Renewed Hope Agenda, had adopted a shift from fragmented housing projects to a structured national programme focused on measurable delivery.
Dangiwa disclosed that the ministry had commenced over 10,000 housing units across 14 states and the Federal Capital Territory (FCT) in the last two years.
Through urban renewal and slum upgrade programmes, he explained that the government had impacted more than 150 communities nationwide with critical infrastructure.
While calling for a continental approach to housing provision,the minister said that no single government or country could address the housing challenge alone.
Namibia’s Minister of Urban and Rural Development, James Sankwasa, said that Africa has reached a point where it must recognise and celebrate its own development efforts.
Convener of the awards, Festus Adebayo, said the housing and construction sector remains a major driver of growth, job creation, and national development.
This, he said informed the decision to come up with this Africa Housing award ceremony seven years ago in order to recognize and appreciate deserving individuals and organizations contributing to the development of the sector which has been attracting participants from all across Africa.
