Expert: Nigeria Faces 22m Housing Deficit by 2030

Kasim Sumaina in Abuja

Nigeria will experience a 22 million housing deficit in the next nine to ten years time if nothing is done to address the increasing demand occasioned by increasing number of citizens, Chief Executive Officer Matrix Court, Mr. Tambaya Suleiman has said.

Suleiman noted that Nigeria’s population grows at a rate of 2.55% and as at 2020, Nigeria’s population was put at 206 million.

Suleiman, while speaking to the press on Wednesday in Abuja on increasing housing challenges, hinted that by 2021, “our population should have increased to 211 million, meaning that it increased by five million people.

“The housing need will increase by the same ratio to over 400,000 houses. In 10 years, if nothing is done to address the increasing demand occasioned by increasing number of citizens, there will be a deficit of about 22 million houses and Abuja being Nigeria’s capital city is a home to decent living and is expected to continue its growth on the same trajectory.

It is therefore very important that Abuja is made a sustainable city by the type of houses built. This is one way in which Matrix court intends to be different.

According to him, “Matrix Courts has commenced the implementation of policies that will enable low-income earners to own their homes and this will address the country’s housing deficit.

“We have started the construction of a 38-unit eco-friendly and affordable homes in the Federal Capital Territory (FCT) Abuja. We want to bridge the housing gap. Nigeria’s housing gap is extremely large and poses serious challenges to sustainable development and economic growth.

Suleiman, further explained that Matrix Homes aims to address the challenges of the country’s housing shortfall as well serve as a reliable platform for global investors to key into the lucrative investment potential of the real estate industry.

“We want to support stakeholder efforts to actualize this critical right. Number 11 of the United Nations Sustainable Development Goals (UNs – SDG) states that by Year 2050, over 6.5 billion people will be living in cities. So, we must begin to build Sustainable Cities and Communities that will shelter the population explosion.The housing sector has what it takes to create greater number of jobs.

“We are leveraging on this potential. While creating direct jobs, we want to attract investment that will yield great returns.

“So, apart from providing homes and shelters, Matrix Court will serve as manager of funds for people who believe in the potential of the housing sector to yield lucrative returns on investment because, housing is a human right”, he said.