Association calls for more reforms to bridge housing deficit
The Association of Housing Corporations of Nigeria (AHCN) has raised serious concerns over Nigeria’s worsening housing crisis, particularly affecting low- and medium-income earners, calling for urgent structural reforms, stronger government
- By Okwy lroegbu-Chikezie
The Association of Housing Corporations of Nigeria (AHCN) has raised serious concerns over Nigeria’s worsening housing crisis, particularly affecting low- and medium-income earners, calling for urgent structural reforms, stronger government support, and innovative financing solutions to address the challenge.
This formed part of the resolutions reached at the end of a two-day high-level strategy session themed “Redefining Affordable Housing for Low Income Earners and the Roles of Housing Corporations in Emerging Real Estate Maret.
The Association commended the Federal Government’s Renewed Hope Housing Initiative, which has commenced with three housing cities and twelve estates nationwide. However, it expressed concern over the lack of clearly defined roles for state housing corporations.
According to AHCN, state housing corporations remain critical institutions established to deliver affordable housing and must be fully integrated into the implementation framework of the initiative.
The Council decried the paradox of increasing housing shortages in major urban centres such as Abuja and Lagos, despite the presence of numerous unoccupied houses developed by private investors.
It noted that many of these properties remain unaffordable to the majority of Nigerians, thereby failing to address the housing needs of low-income earners.
The Association therefore called on state governments to empower their housing corporations through improved access to land and funding to tackle the growing deficit.
AHCN strongly condemned the practice by some state governments of merging housing corporations with ministries or stripping them of their statutory responsibilities.
The Association described such actions as violations of the National Housing Policy, warning that they have significantly weakened the capacity of housing agencies and worsened the affordable housing deficit across the country.
The Council highlighted the availability of low-interest funding windows for housing development but urged state governments to support housing corporations in accessing these opportunities.
While commending the impact of the Mofi Real Estate Investment Fund for disbursing over ₦97.6 billion for housing acquisition within a short period, AHCN noted that stringent requirements such as sovereign and bank guarantees continue to limit access to financing.
It therefore called on financial institutions and multilateral agencies to design more flexible funding structures tailored to housing corporations.
In response to rising construction costs driven by inflation and foreign exchange instability, the Association emphasized the urgent need to adopt alternative building materials.
It identified technologies such as Hydraform and other locally sourced materials as viable solutions to reduce costs and improve affordability in housing delivery.
AHCN also stressed the importance of integrating Nigeria’s vast informal sector into housing schemes, noting that their exclusion has contributed significantly to the housing gap.
The Association advocated for the strengthening of housing cooperatives as a means of enabling informal workers to access affordable housing.
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The Council underscored the importance of collaboration among key housing institutions, including the Federal Mortgage Bank of Nigeria, Family Homes Funds, and MREIF, to unlock long-term financing and expand access to mortgage opportunities.
It noted that strategic partnerships and business synergies are essential to reducing housing costs and scaling up delivery.
The Association expressed concern over declining public confidence in government housing agencies, attributing this to their inability to meet the needs of Nigerians.
It called for comprehensive structural reforms to reposition these agencies for improved performance and accountability.
AHCN concluded by commending the Abuja Property Development Company Limited for hosting the strategy session and council meeting, noting that such support reflects a strong commitment to advancing Nigeria’s housing sector.
