African Countries Urged to Develop Sustainable Housing Solutions: Vice President Shettima
African countries have been urged to adopt a domestic strategy in developing sustainable and resilient housing solutions that will meet their needs. Vice President of Nigeria, Kashim Shettima, made this call during the 18th edition of the African International Housing Show in Abuja.
Represented by the Minister of Housing and Urban Development, Arc Ahmed Dangiwa, the vice president emphasized housing as a fundamental right and expressed the Federal government’s commitment to collaborating with the private sector to bridge the housing gap in the country.
Shettima highlighted the importance of considering the peculiarities of Africa’s housing needs and the challenges faced in providing adequate housing. He noted that a ground-up approach and a domestic strategy are essential to address the dual challenge of inadequate housing supply and sub-standard housing conditions on the continent.
The minister also outlined the government’s efforts in reforming the housing sector, including initiatives to improve land governance, strengthen federal housing agencies, and encourage local manufacture of building materials. He highlighted the Renewed Hope Cities and Estates Programme, which aims to deliver 50,000 housing units across Nigeria in the first phase.
The funding for these projects comes from a mix of sponsors, including budgetary allocation, the Federal Mortgage Bank of Nigeria, and Public-Private Partnerships with reputable developers. The minister emphasized the importance of sustainability in the housing projects, incorporating green design measures to ensure climate-smart and environmentally friendly cities and estates.
The Africa International Housing Show, led by Festus Adebayo, provides a platform for stakeholders in the built industry to discuss and network on affordable housing solutions. The theme of this year’s forum, “Financing the Housing We Need,” focuses on strategies to address the high cost of funding and volatile business environment in Nigeria.
Chairman of Makarios: The Luxury Place, Pastor Mathew Ashimolowo, highlighted the role of finance in housing development and suggested land banking as a viable source of funding for real estate projects. He emphasized the need for intentional, innovative, and pragmatic financing strategies to address the housing shortage and dearth of affordable housing finance in the country.
Speaker of the House of Representatives, Abbas Tajudeen, and Senate President Godswill Akpabio, represented by Senator Victor Umeh, also emphasized the importance of collaborative efforts to ensure housing as a fundamental right across the continent. They called for inclusive policies and urgent attention to regulatory oversight deficiencies and implementation gaps to narrow the housing deficit.
Overall, the call for African countries to adopt domestic strategies in housing development and the government’s efforts to reform the housing sector demonstrate a commitment to addressing the continent’s housing challenges and providing sustainable and resilient housing solutions.