The year 2023 came with lots of ups and downs in the housing and construction industry.
However, just like every other industry, a considerable amount of activities cannot be overlooked, having seen its great impact in the industry.
In January 2023, President Muhammadu Buhari commissioned the Family Homes Estate in Darmanawa, Kano, for four hundred and sixty-nine families including civil servants, traders, and other low-income beneficiaries in the state during a two-day working visit.
In the same month, the Executive Secretary of the National Universities Commission (NUC), Prof. Abubakar Adamu Rasheed, advised professional bodies to desist from the unhealthy competition with the NUC over the training of undergraduate students in the Nigeria University System (NUS) when the Commission played host to the President of the Institute of Chartered Chemists of Nigeria (ICCON) on a courtesy visit.
February saw the Federal Mortgage Bank of Nigeria FMBN commission 25 affordable housing units in Kuje and also performed a groundbreaking event for the development of another 130 units at Aviation Village off Airport Road Abuja to ensure more Nigerians have affordable Housing and deepen home ownership among Nigerian workers.
In the same vein, FMBN in March handed keys to home beneficiaries in Benin via its Goshen Carden City Estate project.
Meanwhile, Lagos state commissioned a 492-flat Housing Estate in Igando, named after the first civilian governor of the state, Lateef Jakande.
In April, the Bilaad Realty didn’t go without notice in the year 2023, as it hosted its first edition of the Gem Hunt Conference held in Abuja to provide services in the housing space and hand young Nigerians the necessary tools to advance in their endeavours.
In a bid to regulate the incessant cases of building collapse, CORBON during her Inaugural General Conference gathered stakeholders who called for a professional approach in the use of Concrete.
To wrap up the month of April is the sad incident of a seven-story building under construction that collapsed in Banana Island Ikoyi, Lagos state. That incident threatened the peace and serenity of Banana Island, Ikoyi a highbrow Lagos community.
In May, the Nigerian Institute of Quantity Surveyors (NIQS) FCT chapter held its 13th investiture ceremony of new executives in Abuja. The event saw the swearing-in of the new Chairman Qs. Abdulwasiu Igbalaye and other executive members.
Shelter Afrique a PAN-African Finance Institution also held her 42nd AGM in Abuja with a view of providing financial solutions to affordable housing in Africa.
In addition, Infinity Trust Mortgage Bank declared a very impressive annual report at its 17th Annual General Meeting in Abuja.
In June, the Nigerian Institute of Town Planners reiterated the need for sustainable development through proper physical planning during a press conference in Abuja.
With merry, July witnessed the largest housing and construction festival, Africa International Housing Show AIHS which featured brands, stakeholders, and organizations in the housing sector as they converged at the International Conference Center Abuja to proffer solutions facing the sector.
The Nigeria Mortgage Refinance Company in August held its 9th AGM in Lagos as they doubled Mortgage Refinancing despite several challenges.
Likewise, Nigeria got herself new ministers, and the housing sector wasn’t left out. The Inauguration of Arc. Ahmed Musa Mangiwa as the new minister for Housing and Urban Development is noteworthy in 2023.
In celebration of his appointment, stakeholders held a dinner to gear the new minister’s mandate for the sector organized by the leading housing civil society organization, Housing Development Advocacy Network HDAN in Abuja.
In line with the aforementioned, operators in the built sector commended President Bola Tinubu for separating the Ministry of Housing from the Ministry of Works.
Starting with the Chief Executive Officer of the African International Housing Show, Festus Adebayo, the Executive Secretary of the Association of Housing Corporation of Nigeria, Toye Eniola, and the Treasurer of the Nigerian Institute of Building, Philips Ayotunde, who all confirmed the move as a welcome development.
Also in August, Kaduna state partnered with Qatar to Provide Housing To 500000 Residents through a Mass Housing intervention by the Qatar charity foundation.
The initiative comes at a time when the state government was trying to bridge the housing deficit gap in the state.
In September the Federal Ministry of Housing and Urban Development moved to collaborate with the National Population Commission NPC in providing credible housing data, this was disclosed during a courtesy visit by the National Population Commission in Abuja.
The minister also received professional bodies like the Nigerian Institute of Architects NIA, Nigerian Institute of Town Planners NITP, Nigerian Institute of Quantity Surveyors NIQS, and a host of delegations including the Katsina State government led by the Executive Governor of Katsina State, His Excellency, Dr. Dikko Radda in Abuja.
Real Estate Development Association of Nigeria REDAN in October held a 2-day conference on sustainable real estate projects in Abuja.
The theme of the conference was “Enhancing Investment and Finance Opportunities for Sustainable Real Estate Projects”.
October also witnessed the approval of the construction of 1,000 housing units for the resettlement of displaced people of Darajamal and Mayanti communities in Bama Local Government Area of Borno state by Governor Babagana Zulum.
Zulum, who gave the approval during an assessment visit to Bani, said the project should be completed within four months.
Same October, Shelter Afrique, the pan-African housing and urban development financier was officially welcomed into a development bank.
The approval was given on the 5th of October 2023 during the Extraordinary General Meeting of shareholders which saw Shelter Afrique renamed Shelter Afrique Development Bank (ShafDB).
Proptech in November held a 2-day conference in Lagos State to explore the latest technology in the sector, and proffer solutions needed.
Another event that rocked November is the African Union for Housing Finance (AUHF) 39th annual conference with a view of harnessing the power of data sharing and innovative technology to address housing challenges.
Reall maintained a feat as the largest affordable housing financier after leading a high-profile finance discussion and special networking event on end users finance in Abuja.
The leading housing civil society organization, Housing Development Advocacy Network HDAN members paid a courtesy visit to the Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa highlighted his 3 months performance report in the area of data, and housing reform team among other progresses.
In December, the Nigerian Institute of Building (NIOB), appointed a new president in person of Bldr. Alderton Ewa Ewa who reinstated his commitment to reposition the Institute for greater Impact during his acceptance speech at the Investiture ceremony held in Abuja to herald the beginning of his tenure as the 22nd President.
Likewise, Kene Nzekwe was inaugurated as the 27th President of the Nigerian Institute of Quantity Surveyors (NIQS) at the institute’s investiture dinner. In his inaugural address, Nzekwe pledged to complete the NIQS – Quantity Surveyors Registration Board of Nigeria (QSRBN) cost database and safeguard public funds.
For the second time in 63 years of its existence, the Nigerian Institute of Architects NIA elected a female president.
Arc. Mobolaji Adeniyi, FNIA was inaugurated as the 30th President of the prestigious Nigerian architectural membership organization at a colorful gala dinner to wrap up the week-long activities of the Annual General Meeting and Conference which began with the unprecedented induction of circa 600 Architects into the full membership class of the Institute.
Mortgage Banking Association of Nigeria MBAN held its 20th Annual Retreat with President Mac-Yoroki Ebilate Stressing on Nigeria’s Strength amid global economic challenges and the need to Embraces Technological Evolution.
The president while speaking underscored the crucial role of technology, particularly Artificial Intelligence, in navigating the sector’s future success.
The president highlighted the challenges faced by Nigeria in the global economic slowdown, emphasizing the impact of policy changes and geopolitical disruptions.
Meanwhile, the Canada-Nigeria trade expo held in Canada was a week-long event designed to provide Federal, State and Municipal Agencies with the opportunity to secure strategic partners in the key and critical development sectors. The event had in-person attendance of some International Consultants and Investors, and featured many organizations from Canada who are interested in investment opportunities in Nigeria, especially as it pertains to the real estate sector.
InfraCredit, an ‘AAA’-rated specialized infrastructure credit guarantee institution, announced the guarantee of NGN3 billion initial debt financing under an NGN12.5 billion debt programme for Modern Shelter Systems and Services Limited.
This is majorly for the development of 370 affordable housing units according to IFC’s green building standard (EDGE) in Nasarawa Technology Village under a co-financing structure with the Shelter Afrique Development Bank.
To wrap up the year is the 5th edition of the Africa Housing Awards 2023, an annual end-of-year dinner to recognize Leading Real Estate and Construction Companies, and individuals who have done notably well in the development of Housing in Nigeria and Africa at large.