Expert raises alarm over Nigeria’s 28m housing deficit

Worried by the 28 million housing deficit in Nigeria, Real Estate Developer and Founder, T-Pumpy Concepts, Dr. Akintayo Adaralegbe, has described the situation as alarming, calling for collaborations with stakeholders to address the critical issue

Adaralegbe however declared that his company is up for the challenge by working closely with government to bridge the housing gap in the country.

Speaking with journalists in Abuja at a road show during the week, Adaralegbe underscored the need for government to collaborate with registered operators to create affordable housing units for the masses.

While highlighting the need for transparency in the sector, he urged estate developers to be genuine and avoid cheating their customers so as to build trust and fruitful partnerships.

He said: “I started not quite long and I can tell you we have done over 50,000 housing units. And I am assuring you even this year we are planning to do more than 20,000. We are collaborating with government in order to solve this housing deficit.

“We have been doing it before now and we will continue to do it. You can see what we are coming out to do. We are showcasing our new site at Kaba District. It’s not only to come out to protest but we can showcase what we have. We can showcase the goodness of Nigeria to the general public. We can showcase Nigeria to people in Diaspora”.

As of 2023, Nigeria’s housing deficit stands at 28 million units, requiring an estimated N21 trillion to rectify the situation.

He stressed the need for education and collaboration among sectors from the developers, regulators, surveyors to artisans, to tackle the rising cases of building collapse in the country.