#ShelterMatters: Is There Really Affordable Housing In Nigeria?

“One of human basic needs that have continued to attract universal attention is the need of house. Unlike shelter which seems narrower in definition, housing is “more than just a shelter”, this is because it cuts across all the social services and activities that go to make a community or neighbourhood a liveable environment. Thus, housing does not only satisfy human basic need, but also helps in the development of society in general.

However, unlike the provision of other basic human needs such as food and clothing, the provision of housing has become a problem to almost all society. It is described as one of the universal experience that the whole world is being confronted with.

In Nigeria, many people always wait with keen interest to listen to budget speech at the beginning of each year. This is for nothing sake, but to hear how much have been allocated to some areas of priority interest. One of these areas of priority that have always attracted the attention of the people is the housing sector.

The housing sector has constantly been one of those sectors that receives higher allocation, yet it has remain one of the under developed sector of the economy. This is because successive government paid little attention to various housing schemes most especially those that concern the low income class. Hence, the goal of making housing affordable and accessible has only become an imagination or others would call an illusion.

The problem of public sector housing scheme does not only affect the provision of housing but also its maintenance” Lekan Olofinjin of Nigeria Real Estate Hub (NREH) explains in his article on “Affordable Housing in Nigeria: Myth or Reality?”

Some real estate professionals will  say the term affordable’ is relative and has to do with your level in the society strata. However, is there really affordable housing in Nigeria?

From LagosHoms, to Lekki Gardens and the likes, the cost of owning an apartment is one a low income earner or even a middle income earner will clearly stay away from.

In my opinion, I will say making housing affordable in Nigeria has a lot to do with fixing our Mortgage system whereby loans can be gotten at single digit interest rate and payback for consumers spread to 20-25years.

But Shelter Matters is not for me to air my opinion, rather for you reading this to tell us what you think and what the best solution is.

Do you think Housing is really affordable in Nigeria? If yes, Why? And If no, what can be done?

Use the comment box or join us with the hashtag #shelterMatters of Facebook and Twitter. Lets discuss…