Nigeria’s housing crisis will persist unless the country shifts from simply constructing houses to building a functional housing system, according to housing expert and Director of Altair International, Olu Olanrewaju.
In an interview, Olanrewaju argued that the country’s housing deficit is driven by structural weaknesses in land administration, housing finance and policy implementation rather than a shortage of construction projects.
‘Housing Crisis Is Systemic’
According to Olanrewaju, successive governments have treated housing as a construction programme instead of a productive economic sector capable of driving growth, employment and wealth creation.
He said many government housing projects remain unaffordable, poorly located or disconnected from transport, jobs and basic infrastructure, limiting their long-term impact.
“The real failure is systemic, not technical. Nigeria does not merely have a housing shortage; it has a housing system that is not yet designed to deliver affordable homes at scale,” he said.
Calls for Housing Finance Reform
The housing expert maintained that conventional mortgages alone cannot solve Nigeria’s housing challenges because a large proportion of the population earns irregular incomes in the informal sector.
He advocated broader financing options, includingt rent-to-own schemes, housing cooperatives, incremental housing finance, employer-supported housing and housing microfinance.
Olanrewaju also urged the government to reduce the cost of land, infrastructure and financing while encouraging pension funds, insurance companies and capital markets to invest in affordable housing.
Land Reform Key to Affordable Housing
He identified land administration as one of the biggest barriers to housing delivery, calling for the digitisation of land registration, faster approval processes and the creation of serviced land banks.
According to him, secure property titles and transparent land administration would attract private investment and improve access to housing finance.
Learn from Global Best Practices
Drawing lessons from countries such as Singapore, Malaysia, Brazil, Chile and Denmark, Olanrewaju said successful housing systems combine affordable finance, serviced land, effective institutions and long-term planning.
He advised Nigeria to develop a model suited to its local realities rather than copying foreign housing policies wholesale.
Three Priorities for the Next Decade
Olanrewaju recommended three urgent reforms to transform Nigeria’s housing sector:
- Establish a credible national housing delivery system with measurable targets.
- Reform land administration through digitised titles, serviced land programmes and improved infrastructure.
- Mobilise long-term housing finance using mortgage refinancing, pension funds, insurance funds, rent-to-own schemes, cooperatives and targeted subsidies.
He concluded that Nigeria’s housing deficit would only be addressed when housing is treated as a functioning market supported by strong institutions, sustainable financing and coordinated government policies.
