Property firm offers solution Nigeria's housing deficit

Nigeria is currently facing a huge housing deficit.

This deficit requires at least 17 million housing units, in order to satisfy the accommodation needs of Nigerians.

READ: 'We need between 250,000 and 300,000 units to solve housing deficit' -REDAN

While the Federal Government is still looking for a permanent solution, a property firm seems to have found one.

According to the Executive Director of

In an interview with Punch, Daramola urged the government and private bodies to adopt this initiative.

"We strongly believe that this is about the only answer to the housing challenge we find ourselves in. Renting to own is a convenient, hassle-free option to owning your own property. Government’s intention as always is to provide shelter for its citizenry and every government wants to do this without imposing burdens on its citizens", he stated.

Like Babatunde Fashola,the Minister of Power, Works and Housing, Daramola is of the opinion that the private sector needs to help out with this huge problem.

"A World Bank study estimates the cost of building Nigeria’s 17 million housing deficit at about N59tn. This figure is huge and obviously can’t be funded alone by the government. That is why the private sector must play a key role. There must be a robust and synergised approach to housing in Nigeria, because something as basic as an increasing population could erode whatever gains one makes in trying to bridge the gap".

Do you agree?