A real estate firm, EmmanPlus Porch Homes Nigeria Limited, has called for the adoption of cost-efficient construction methods to address Nigeria’s worsening affordable housing deficit and improve access for low-income earners.
Data shows that Nigeria’s housing gap has widened significantly from about 14 million units in 2010 to an estimated 28 million units in 2024. Rising inflation, naira depreciation, and escalating building material costs have pushed home ownership beyond the reach of many Nigerians, leaving only about 10 per cent with access to housing.
Speaking with journalists in Lagos, the firm’s Operations Manager, Bamidele Akinmola, said adopting cost-efficient construction techniques, flexible ownership models, and strategic partnerships could significantly boost housing supply and affordability, particularly for low- and middle-income earners.
He explained that a major component of the firm’s strategy is the increased use of locally sourced building materials and alternative construction technologies, aimed at reducing dependence on imports and cushioning the impact of inflation on project costs.
According to Akinmola, the soaring cost of cement and other critical inputs remains a major driver of the housing deficit, with prices of key materials more than doubling over the past three years. “Our approach is driven by the need to deliver homes that align with the income realities of ordinary Nigerians,” he said.
“Nigeria’s housing challenge is no longer just about numbers; it is about affordability and access. We are deliberately rethinking how homes are designed, built and financed. By optimising construction processes, sourcing materials locally and adopting phased development models, we are able to reduce costs and pass those savings on to homebuyers.”
Akinmola noted that weak mortgage financing continues to pose a major bottleneck in the sector, with Nigeria’s mortgage-to-GDP ratio still below one per cent.
He disclosed that the firm plans to expand its rent-to-own and flexible payment schemes, allowing prospective homeowners to spread payments over time without the heavy upfront costs associated with conventional mortgages.
“We recognise that many Nigerians are excluded from traditional mortgage systems. Our rent-to-own and structured payment options are designed to bridge that gap and give more families a realistic pathway to home ownership,” he added.
The operations manager further revealed that the firm is working closely with state governments, host communities and private partners to secure land through transparent processes, in line with emerging public-private partnership models in the housing sector.
He stressed that sustained private-sector participation would be critical to narrowing Nigeria’s housing deficit, alongside government-led housing programmes.
“Large-scale housing development has the potential to stimulate economic growth, create jobs across the construction value chain and improve living conditions in rapidly expanding urban centres. As pressure continues to mount in cities such as Lagos, Akure, Abuja and Port Harcourt, our interventions are aimed at delivering practical, scalable solutions that can gradually narrow Nigeria’s housing gap,” Akinmola said.
In this article