Former Vice President of Nigeria, Professor Yemi Osinbajo, has issued a clarion call for transformative housing reforms to bridge Nigeria’s widening housing access gap, warning that the nation’s rapid population growth and urbanisation could fuel a deeper crisis if not addressed through deliberate policies.
Speaking at the 75th World Real Estate Congress of the International Real Estate Federation (FIABCI), hosted for the first time by the Nigeria Chapter in Lagos, Osinbajo stressed the critical need for sustainability-driven policies that prioritize shelter as a fundamental human right, not merely a commercial commodity.
Osinbajo, addressing a hall filled with global real estate stakeholders, described housing as an urgent moral responsibility and social necessity.
“Every profession that addresses fundamental human needs must reach beyond profit,” he said. “The opportunity to be a professional in providing homes cannot just be about business. It must reflect civic responsibility—providing shelter for all.”
He emphasized that in Africa—where urban growth is rapid and largely unregulated—home ownership remains elusive for millions. With Nigeria’s population increasing by over six million annually, Osinbajo likened the demographic expansion to “adding a new Liberia every year,” underscoring the urgency of scaling up housing solutions.
Statistics from the World Bank and African Development Bank place Nigeria’s current housing deficit at over 28 million units. With Africa projected to be over 60% urbanised by 2050, Osinbajo warned that urban housing inadequacies, compounded by climate disasters and internal conflicts, are eroding existing infrastructure and leaving families vulnerable.
“Housing is not a luxury, nor merely an asset class,” he asserted. “It is a right and a platform for stability, dignity, and opportunity. Practitioners must look beyond physical structures to the communities and futures they shape.”
According to the former VP, the housing crisis is further intensified by the dual threats of climate change and conflict. Natural disasters, flooding, and insurgency in Nigeria’s northern and middle-belt regions have destroyed thousands of homes, even as economic hardship stifles reconstruction.
“The twin crises of climate and conflict have continuously destroyed housing stock and delayed efforts to rebuild. These are realities that require innovative and resilient planning,” he added.
In response, FIABCI Nigeria President, Akin Opatola, lauded the ex-VP’s remarks, affirming that real estate professionals must now see themselves as agents of inclusive progress.
“Real estate is not just about building physical structures. It is about building hope, dignity, and the future of our cities,” Opatola said.
FIABCI World President Ramon Riera echoed this sentiment, describing Lagos as the perfect platform for pioneering inclusive urban innovation. “This congress marks a turning point, not just for Africa, but for the global real estate industry,” Riera added.
Osinbajo’s advocacy aligns with rising demands for a national housing reform agenda that includes:
A rent-to-own scheme for low-income earners.
A regulatory framework for affordable green buildings.
Public-private partnerships to stimulate mass housing construction.
Mortgage reforms and credit access for the informal sector.
Analysts say the federal and state governments must act swiftly if Nigeria is to keep pace with its urban population and meet the United Nations’ Sustainable Development Goal 11: Sustainable Cities and Communities.
As Nigeria continues to urbanise and evolve, Osinbajo’s remarks place the real estate industry at the heart of a socio-economic transformation. His call for a housing revolution may serve as a timely reminder that shelter—like education and healthcare—is a public good that must be accessible to all Nigerians, not just the privileged few.