Nigeria's real estate industry is evolving. From glitzy skyscrapers in lkoyi to master-planned estates in Lekki and Gwarinpa, there's no shortage of high-end developments. But beneath this glossy surface lies a hard truth: a severe housing deficit, particularly among low- and middle-income earners.
According to the Federal Mortgage Bank of Nigeria, the country faces a housing deficit of over 28 million units, and that number grows yearly. In response, state governments and private developers alike have been rolling out "affordable housing" initiatives. But the questions remain;
How affordable are they really?
What's Fueling the 'Affordable Housing' Boom?
Are These Homes Really Affordable?
What Needs To Change? What's The Way Forward?