The Managing Director and Chief Executive Officer of Footstool Estates Limited, Fanda Augustine, has called for deeper collaboration between government institutions and private real estate developers to sustainably tackle Nigeria’s widening housing deficit.

In a statement issued on Wednesday on the state of housing in Nigeria, Augustine stressed that meaningful progress in affordable housing depends on deliberate policy reforms, easier access to land and sustainable financing mechanisms.

He explained that affordable housing should not be equated with constructing low-cost buildings but should instead focus on providing quality, durable homes that ordinary Nigerians can afford.

“Housing is one of the basic needs of man. After food and clothing, everyone deserves a decent place to live. Affordable housing is not about building cheap houses; it is about ensuring that every Nigerian has access to comfortable and sustainable shelter,” he said.

Augustine identified several challenges driving the country’s growing housing shortage, including restricted access to land, increasing construction costs, inconsistent government policies and declining trust within the real estate sector.

According to him, land remains the foundation of every housing project, making transparent and efficient land administration essential to lowering housing costs nationwide.

“We don’t build houses in the sky. The first challenge is access to land. Government policies determine how easily developers can acquire land and how affordable building materials become. If these issues are addressed, the cost of housing will naturally reduce,” Augustine stated.

He urged governments across the country to simplify land allocation procedures, noting that qualified Nigerians should not spend years waiting to obtain land titles.

The Footstool Estates boss also highlighted the financial burden carried by private developers, explaining that project costs extend far beyond land acquisition to include compensation for host communities, road construction, electricity, drainage systems and other infrastructure needed to make residential estates livable.

“Developers are almost like local governments because we provide roads, electricity, transformers and other infrastructure before people can comfortably live in these estates,” he said.

Augustine maintained that governments should prioritise creating enabling infrastructure and implementing policies that encourage credible developers to invest in large-scale housing projects. He also urged developers to adopt innovative approaches while placing greater emphasis on social impact instead of excessive profit margins.

The real estate executive further called for reforms to Nigeria’s mortgage financing framework, describing current conditions as impractical for many civil servants and low-income earners seeking home ownership.

“Civil servants are expected to make equity contributions of about 25 per cent before accessing mortgage facilities. Where will the average worker raise such money? The system should be restructured to make home ownership easier, with lower equity contributions and better financing arrangements,” he said.

He also proposed tax incentives for private companies investing in affordable housing developments, arguing that such measures would encourage increased construction of homes targeted at low- and middle-income Nigerians.

Drawing lessons from countries such as Singapore, Augustine said Nigeria should adopt long-term urban planning that integrates housing with schools, hospitals, markets, transport networks and other essential public amenities to build sustainable communities rather than isolated housing estates.

He also expressed concern that neighbouring states around the Federal Capital Territory had not fully leveraged their proximity to Abuja through coordinated urban planning and mass housing programmes.

According to Augustine, effective town planning, equitable distribution of infrastructure and strategic partnerships between governments and private developers would reduce pressure on major cities while making quality housing more accessible to millions of Nigerians.

He added that expanding access to affordable homes and basic infrastructure could help reduce social inequality and strengthen national security by improving citizens’ overall quality of life.

Augustine concluded by urging policymakers, financial institutions and private developers to work collectively to implement practical solutions capable of reducing Nigeria’s housing deficit and making home ownership attainable for more Nigerians.

Source:Punch