According to the Association of Housing Corporation of Nigeria (AHCN), the real estate industry accounted for 17.4 percent of Nigeria’s gross domestic product (GDP) during the first quarter of 2025.
Eno Obongha, president of AHCN, shared this insight yesterday while delivering the ‘State of the Nation’s Housing Address’ in Abuja, commemorating World Habitat Day. He projected that the sector is poised to expand by six to eight percent throughout 2025, driven by factors such as rapid urbanization, increased infrastructure investments, and persistent housing shortages.
Obongha urged both federal and state governments to intensify their commitment and implement targeted interventions to boost housing development, particularly in urban areas. He emphasized that such efforts could transform the current narrative of housing scarcity into one of large-scale, affordable housing availability supported by deliberate pricing strategies.
Expressing concern over the government’s reactive stance on building collapses, the AHCN president stressed the urgent need for proactive measures. He envisioned a country where government authorities take timely and effective steps to prevent avoidable structural failures and unnecessary demolitions, which often result in significant financial losses and displacement hardships.
While acknowledging the collaborative efforts of federal and state governments, private developers, and housing corporations in addressing the housing deficit through new estate developments, urban renewal projects, and policy reforms, Obongha noted that progress remains uneven. The review period reflects a blend of advancements, innovative approaches, and ongoing challenges.
He praised the federal government’s Renewed Hope Housing Programme (REHHP), a comprehensive three-tier strategy encompassing Cities, Estates, and Social Housing. Obongha highlighted that within just two years, the Ministry of Housing and Urban Development has initiated the construction of over 10,000 housing units across 14 states and the Federal Capital Territory.
Furthermore, he called on state legislatures to revise housing corporation laws to accelerate mass housing delivery at the state level. Obongha also expressed disappointment over the minimal progress in affordable housing provision by most state governments over the past year.
