Many African countries are facing rapidly increasing housing deficits, which can be attributed to population growth and rural-to-urban migration. Nigeria has a shortage of 17 million units, with an estimated 80% of the population living in overcrowded and substandard housing. Informal settlements make up a large part of the available housing, as affordability of formal units is a major issue.
In an attempt to increase the affordable housing stock, Nigeria developed a National Housing Program, which launched a pilot project in August 2017. The program intends to build more than 2,700 units through a public-private partnership (PPP) that has already attracted over 600 contractors. This will result in not only the construction of housing, but also of associated infrastructure, as the project aims to increase accessibility and mobility. The program has also conducted many studies, aiming to understand buyer needs, financial capabilities, cultural attitudes about housing, and the best ways to use different categories of land.
Source:
Oxford Business Group. (2020) Emerging Markets Strive to Solve Housing Deficits Amid Rising Urbanisation. OBG.