Strategies for Housing Affordability in Nigeria

Population in urban areas is growing at a rapid rate, thus recycling of land becomes necessary even though land is a finite resource. The gap between supply and demand for housing is an issue for the government to address to provide housing at a cheaper rate which is the basic need of man. The purpose of this study is to assess the strategies for affordable housing in Nigeria. Research design was used and the population of the study was Architects, Quantity Surveyors, Engineers, Contractors, and project managers.

A random sampling technique was adopted for this study. A total of 70 questionnaires were distributed and 51 were returned. This represents a response rate of 73%. Statistical Package for Social Sciences (SPSS) was used for analysis via descriptive and inferential statistics. The study showed that the problem of land inaccessibility, and the stunted financial and mortgage system were the factors affecting housing delivery. Challenges of housing delivery were the high cost of acquiring land, social miscreants (“Omo Onile”), and affordability.

Anti-corruption measures and a responsive judiciary, Cost–saving house design, Land reforms/reviews of the Land Use Act, and review of fiscal and monetary policies to reduce inflation and interest rates to be used to ensure strategies for housing affordability. In conclusion, the Government should create an enabling environment for the private sector by reducing the interest rate, and taxes collected, and creating a viable housing mortgage sector to cater to the needs of interested mortgage loan applicants. The use of the land should be constrained to affordable housing.

Also Read: Affordable housing in Kenya: Market shaping indicators