Nigeria - The housing opportunity!


Housing is a basic human need and it is reported widely that Nigeria has a housing deficit of about 17 million homes. Historically major housing policies in Nigeria have been based on the principle that affordable houses will be provided by government. Which we know to be unsustainable as government alone cannot fill the gap.
With a current population of 170 million and a substantial percentage of working adults, demand for housing far outstrips supply. And there are enormous opportunities waiting to be tapped in the Nigerian housing sector.
There is also evidence that reforms that will improve the investment climate are being implemented as quickly as possible. In 2014, Former president Jonathan launched Nigerian Mortgage Refinancing Company (NMRC) together with a micro-financing scheme with the intent to open the housing markets to a wider range of the Nigerian population.
These projects have created opportunity for developers to expand their businesses to building for people who would not otherwise be able to afford to buy their own property. Which has in turn provided employment opportunity for many people.
Just to give you a scale of the opportunity, it is estimated by the world bank that the production of just 75,000 homes per year would create and sustain at least 300,000 direct jobs and 488,000 indirect jobs. Nigeria needs to build over 700,000 annually to meet its demand notwithstanding the accumulated housing deficit of 17 million units.(You can do the maths).
Huge opportunities for the entire real estate value-chain! Where will you fit in?
Attend SAPIS to discover opportunities. 
ABOUT THE AUTHOR:Anthony Anakwue is the Founder of SAPIS™ the world's leading virtual expo focussing on promoting the real estate sector in Sub-Saharan Africa. His passion is to provide people of all professional backgrounds with the practical tools necessary to build their own economies towards growth.
We are opening our 2016 season of events on the 26th of November 2015.With several conference streams, over 300 expert speakers and hundreds of leading companies and services providers, SAPIS 2016 season will offer unrivalled learning and access to the forefront of real estate sector in Africa.