The 18th African International Housing Show (AIHS), held in collaboration with the Federal Ministry of Housing and Urban Development, commenced with a series of insightful discussions aimed at addressing the continent’s pressing housing challenges.
The second plenary session, moderated by Hakeem Ogunniran, CEO of Eximia Realty Company, set the stage for a deep dive into the intricacies of housing policy and development.
Professor Timothy Nubi delivered a keynote presentation titled “Housing We Need: Minding the Gap,” which targeted policymakers. Prof. Nubi emphasized the necessity of inclusivity in housing solutions, particularly for the young population, which constitutes 60 percent of the continent’s demographics.
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He highlighted various gaps impeding the housing sector, including the disconnect between real estate and national development, misunderstandings among leaders, inefficiencies in the real estate delivery chain, and the lack of comprehensive data.
Prof. Nubi pointed out that homeownership remains an elusive dream for many African households due to factors such as the lack of affordable housing finance, high urban land costs, weak tenure security, escalating construction costs, and the prevalence of slums. To address these issues, he proposed solutions like the conversion of existing houses, cooperative housing schemes, and the involvement of NGOs and faith-based organizations.
The session also featured contributions from various discussants who provided diverse perspectives on tackling housing challenges. Ify Umunnakwe Okeke, Founder of Lexon Capital, underscored the need for restructuring the banking sector to enhance mortgage accessibility. She stressed the importance of a vibrant foreclosure market to honor the right to risk and interest in owning a mortgage.
Rosheed Shittu, Executive Director of Shef/Slum Dwellers Federation, advocated for stakeholder engagement with slum dwellers, emphasizing that development should be planned with them, not for them. He noted that institutional upgrades could gradually foster development.
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Professor Mohammed Nuhu from the Federal University of Technology Minna highlighted the importance of location-specific solutions. He argued that strategies successful in Lagos might not be effective in Niger, stressing the need for conventional approaches to unburden informal housing arrangements. He also pointed out the significance of upgrading rural houses over securing land titles.
Kenneth Okorowa, a developer, stressed the critical importance of affordability in housing sector evaluations. He called for significant transformations in the mortgage provision sector to alleviate housing challenges. Okorowa emphasized the need for harmonizing mortgage company actions with the country’s realities and suggested that the Family Home Fund should structure the market to align with housing needs. He advocated for extending mortgage tenure to accommodate the real market demands.
The session at the AIHS highlighted the multifaceted nature of housing challenges in Africa and underscored the importance of tailored, inclusive solutions. By addressing gaps in policy understanding, stakeholder engagement, and financial accessibility, the continent can make significant strides toward achieving equitable and sustainable housing for all.
