MD speaks on the need for planned urbanization in Nigeria, Africa

In light of the growing population in Nigeria and other African countries, the Managing Director of Orange Island, Yinka Ogunsulire, is stressing the need for a change in the country’s real estate sector.

According to him, this is the only way the country can handle Nigeria’s growing need for houses.

“The best solution for African cities, many of which are creaking under the weight of growing populations and rapid urbanisation rates, is therefore to channel the growth into new satellite sites which are properly located, developed, planned, serviced and managed”.

Last week, the Chairman of Zenith Bank and Quantum Luxury Properties, Jim Ovia, also advocated for "planned urbanisation and urban renewal” in Nigeria's real estate sector.

Just like Ogunsulire, he said this was needed due to the country's growing population.

“Lagos is the second largest city in Africa, and the fastest growing Megacity in the world. Its current population figure stands at almost 25 million. Rapid urbanisation followed by an unplanned urban expansion has resulted in the need for planned urbanisation and urban renewal."

Do you agree that Nigeria needs planned urbanization?