Nigeria’s Minister of Housing and Urban Development, Ahmed Musa Dangiwa, said Africa faces an estimated $1.4 trillion housing finance gap.
It further pointed out that the continent faces a housing shortage of more than 50 million units.
The minister announced this data during the 7th African Housing Awards held in Abuja over the weekend.
He said the housing crisis remains one of Africa’s most pressing development challenges.
The minister warned that the continent’s housing shortage could rise to around 130 million homes by 2030 if solutions are not accelerated.
conservatively he said
He pointed out that Nigeria’s housing shortage is estimated to be more than 17 million units, and the federal government is responding with scale and systems.
He noted that housing can no longer be treated as a peripheral sector, stressing that housing lies at the intersection of economic growth, social stability, urban resilience and human dignity.
“Some 54 million Africans currently live in urban slums, and the continent faces a housing deficit of at least 50 million units, with a housing finance gap estimated at more than $1.4 trillion.
“Therefore, if we do not accept solutions or accelerate solutions, Africa’s housing deficit is expected to increase to approximately 130 million homes by 2030,” the minister said.
The event recognized no fewer than 52 individuals, organizations, and government agencies across three categories.
Mr Dangiwa commended the organizers of the Africa International Housing Show for maintaining advocacy and accountability in this area.
The minister said the federal government, under President Bola Tinubu’s New Hope Agenda, had adopted a transition from fragmented housing projects to structured national programs focused on measurable delivery.
Mr Dangiwa revealed that the ministry had started construction of over 10,000 houses in 14 states and the Federal Capital Territory (FCT) in the past two years.
He explained that through the Urban Renewal and Slum Upgrading Program, the government has given critical infrastructure to more than 150 communities across the country.
Calling for a continental approach to housing provision, the Minister said no single government or country could address housing issues alone.
Namibia’s Minister of Urban and Rural Development James Sankwasa said Africa has reached a stage where its development efforts must be recognized and celebrated.
Festus Adebayo, the organizer of the award, said the housing and construction sector remains a key driver of growth, job creation and national development.
He said this influenced the decision to come up with the African Housing Awards ceremony seven years ago to recognize and recognize deserving individuals and organizations that have contributed to the development of the sector, which attracts participants from across Africa.
