By Mary onyia
Rising construction costs, steep financing rates, and regulatory bottlenecks are severely constraining large-scale affordable housing delivery across Nigeria, the Managing Director/Chief Executive Officer of Afriland Properties Plc, Azubike Emodi, has said.
Speaking during a high-level panel session at the 20th Africa International Housing Show on “Housing Models for the Informal Sector and the Ecosystem Changes Required to Unlock Affordable Housing” recently, Emodi called for an urgent, comprehensive overhaul of the affordable housing ecosystem to make real estate delivery commercially viable.
“Homes can only be considered truly affordable when they align with the purchasing power and aspirations of the people they are designed to serve.
“While developers are ready to do more, rising construction costs, high financing costs, infrastructure deficits, and regulatory bottlenecks continue to constrain large-scale delivery”.
The Afriland boss noted that the affordable housing conversation must evolve beyond placing expectations solely on developers, adding that sustainable housing delivery will become achievable only through coordinated action across the entire value chain involving governments, financiers, developers, and policymakers.
“The real shift starts with bringing everyone into the housing conversation because we keep hitting this problem from one end while the other stays unresolved.
“We must address it holistically, from three angles: cheaper builds, policy reform, and financing options. That’s what gives developers a fair playing field to build on”.
Emodi further reaffirmed the company’s commitment to partnering with governments, investors, and industry stakeholders to advance sustainable urban development, expand access to quality housing, and deliver real estate solutions that create lasting value for beneficiaries.
The session brought together leading housing experts and policymakers from across Africa, including the Executive Director of Housing and Development Finance Africa (Kenya), Stephen Wanjala; Jane Lumumba of UN-Habitat Kenya; Chairman of the National Cooperative Housing Union (Kenya), Kamau Kamande; and the Managing Director of the National Housing Authority (Republic of Liberia), Hon Florence Kataeka Geegbae, among others.
Now in its 20th edition, the Africa International Housing Show remains one of the continent’s foremost platforms for advancing dialogue on housing, urban development, investment, and public-private collaboration, bringing together key stakeholders committed to addressing Africa’s housing deficit.