Nigeria’s Plans for Affordable and Sustainable Housing Unveiled at Saudi Real Estate Forum
Riyadh, Saudi Arabia – Nigeria’s Minister of Housing and Urban Development, Arc. Alh. Ahmed Dangiwa, took center stage at the Saudi Real Estate Forum in Riyadh, where he joined a high-level panel alongside industry leaders from Qatar and the Maldives. The discussion, themed Balance and Innovation in the Real Estate Landscape, underscored key housing challenges and solutions, with Dangiwa outlining Nigeria’s strategic approach to tackling rapid urbanization, affordability, and sustainability in its real estate sector.
During the session, Dangiwa highlighted the Renewed Hope Housing Agenda, an ambitious initiative aimed at delivering large-scale housing solutions with inclusivity and economic viability at its core. A major component of this agenda, the Renewed Hope Cities and Estates Programme, seeks to construct thousands of housing units across Nigeria through public-private partnerships, innovative financing models, and strategic government interventions to expand homeownership opportunities and bridge the housing deficit.
Boosting Local Production and Lowering Costs
A major barrier to affordable housing in Nigeria remains high construction costs, largely due to reliance on imported building materials. To address this, Dangiwa revealed plans to establish Building Materials Manufacturing Hubs in each of the country’s six geo-political zones. These hubs aim to foster local production of essential materials such as cement, roofing sheets, and tiles, thereby reducing costs and stimulating job creation within the sector.
Addressing Housing Finance Challenges
With mortgage interest rates soaring as high as 30% per annum, affordability remains a significant challenge for many Nigerians. To mitigate this, the government is introducing a National Social Housing Fund (NSHF) to provide concessional, long-term financing for affordable housing projects. Additionally, the Federal Mortgage Bank of Nigeria (FMBN) is being expanded to enhance the provision of single-digit interest mortgages and Rent-to-Own Schemes, enabling Nigerians to transition from tenants to homeowners through structured payment plans.
Sustainability and Green Housing
Dangiwa also emphasized the importance of sustainable housing, stating that environmentally friendly homes must be both cost-effective and resource-efficient. The ministry is working with IFC EDGE, a global leader in green building certification, to promote energy-efficient designs and encourage the use of locally sourced materials. This initiative aligns with the government’s broader vision of developing smart, climate-resilient cities that improve the quality of life for residents.
Land Reforms and Urban Renewal
Land access and urban planning remain fundamental issues in Nigeria’s real estate sector. To streamline these processes, the Federal Government is collaborating with State Governments and the Nigeria Governors’ Forum to accelerate land titling and registration through a National Land Registration and Documentation Programme. Additionally, urban renewal projects are being implemented to transform slums into livable communities, ensuring sustainable urban development.
Global Collaboration for Housing Development
Dangiwa described the forum as an invaluable platform for knowledge sharing and international collaboration. He expressed optimism about future engagements with counterparts from Saudi Arabia, Qatar, the Maldives, and other global investors, aiming to attract funding and technical expertise to support Nigeria’s housing and urban development ambitions.
With these strategic reforms, Nigeria is poised to make significant progress in tackling its housing deficit, expanding homeownership, and creating a more sustainable and inclusive real estate sector.