Housing Deficit: DEXTA Tasks FG on Bureaucratic Bottlenecks of Land Registration 

Gilbert Ekugbe 

One of the leading brand in Nigeria’s real estate sector, DEXTA Africa Limited, has charged the federal government to urgently address the herculean processes of land registration in the country, noting that the challenge is the major factor responsible for the increasing housing deficit in Nigeria.

In a statement, the Chief Executive Officer, Dexta Africa Limited, Olamide Ojo, also lamented over the spate of bribery and corruption involved in the land registration and documentation processes, explaining that it discourages both local and foreign investments into the sector.

According to him, the rising housing deficit situation in the country is caused by so many issues including  government’s inability to regulate prices of both landed  and rented properties, pointing out that presently, the situation in Lagos and other business oriented areas in Nigeria is worrisome

“We have had people report experiences of agents wanting to get more than a 100 per cent gain on

properties. Agents and third parties aim to make even more money and this greed as little as it looks plays

a huge part in increasing the housing deficit,” he said.

“In DEXTA, we aim at reaching a defined agreement and bringing every third party under one

roof so prices of our landed property can have a common price,” he added.

Ojo stated that according to research, the housing deficit in Nigeria is over 17 million, saying that with Nigeria’s rising population of over 200 million people at an annual increase of 3.0 per cent, the deficit would only increase.

“We have high expectations. Issue based and problem solving related ventures or enterprises like real estate is not a one man thing, but a governmental responsibility too. According to UNDP’s valuation, our present housing deficit will be bridged with a whopping sum of 55.5 Billion dollars. So, while we start with what we have, we are sure to make an impact and as we grow, I believe our results will draw the attention of these personalities and in the future we would partner them,” he averred.

Speaking on the uniqueness of DEXTA, he said the firm is different from other real estate firm, stressing that DEXTA is not only focused on developed areas like Lagos and Abuja, but has its vision extended to urbanise seemingly rural areas