Real EstateHousing

Social Housing and unfilled promises of Government


Social housing in Nigeria is literally non-existent, with governments at both the state and federal levels failing to provide affordable housing for the poor and vulnerable. The last time any serious efforts were made at providing social housing was in 1983, when the Shehu Shagari-led federal government and the Lateef Jakande administration in Lagos provided low-cost housing for citizens.

Private investors are also reluctant to develop social housing, citing the high cost of land and building materials.

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The Buhari administration has made some attempts at providing social housing, but these schemes have largely failed to live up to expectations. For example, the Family Home Funds (FHF) has financed the development of 11,700 homes for low-income earners, and even these houses are unaffordable to many.The organization needs direction, political will of government to make FHFL succeed.

The government’s failure to provide social housing has left the poor and needy at the mercy of the private sector, which often charges exorbitant prices for housing. This has led to a situation where many Nigerians are unable to afford decent housing, and are forced to live in slums or overcrowded conditions.

The government of Nigeria must make social housing a priority. This can be done by investing in the construction of social housing units, providing subsidies to private developers who build social housing, and reforming the mortgage sector to make it easier for low-income earners to purchase homes.

Source: Business Day

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