The Federal Government has been urged to increase access to affordable housing finance for low-income and informal sector workers through existing government-backed initiatives.

Making this plea, stakeholders under the auspices of Housing Development Advocacy Network (HDAN), urged the government to treat housing as a strategic pillar of economic development and national security.

In a message to the President, the group expressed deep concern over the growing impact of insecurity, inflation, and the escalating cost of construction materials on affordable housing delivery across the country.

In a statement issued and signed by its Executive Director, Festus Adebayo, HDAN noted that while the Federal Government has introduced a number of housing initiatives and reforms, the realities on construction sites and within communities continue to pose significant challenges to achieving affordable housing for millions of Nigerians.

Besides, the group pointed out that insecurity has become one of the biggest hidden costs of housing development in Nigeria.

“Developers are now compelled to spend enormous resources on private security, surveillance systems, escorts for construction materials, and insurance, all of which ultimately increase the cost of housing units and place homeownership further beyond the reach of ordinary Nigerians, “it read.

The organisation noted that in several parts of the country, contractors and construction workers have become targets of kidnapping and criminal attacks, forcing many projects to slow down or be abandoned completely.

“In some unfortunate cases, funds originally budgeted for project execution has been diverted to secure the release of abducted workers,” the group noted.

These developments, the group said, have been discouraging investment in the housing sector and reducing the willingness of local and international investors to commit long-term capital to residential development.

Beyond insecurity, the group lamented the unprecedented increase in the prices of cement, steel, roofing materials, tiles, electrical fittings, sanitary wares, and other building components.

“The continued depreciation of the naira, high energy costs, transportation challenges, and dependence on imported construction inputs have significantly increased the cost of delivering new housing projects, the group said, observing that many developers who commenced projects at one price are now struggling to complete them, while prospective homeowners are finding it increasingly difficult to afford mortgages or outright purchase of homes.

It stressed that without deliberate intervention, Nigeria’s housing deficit could continue to widen despite ongoing government programmes.

The group wants the Federal Government to strengthen security around construction sites and major housing corridors across the country.

Besides, the group wants governments to intensify efforts to combat kidnapping and other crimes affecting the construction industry.

HDAN urged the government to encourage local manufacturing of building materials through tax incentives and infrastructure support, canvassing reduction in import dependence by promoting alternative building technologies and indigenous construction materials.

HDAN appealed to government to improve road, power, and transport infrastructure to lower the cost of housing delivery; and to strengthen partnerships with state governments and the private sector to increase affordable housing supply.

The group appealed to state governments to simplify land administration processes, eliminate multiple taxation that continues to discourage housing investment and reduce the cost of obtaining Certificates of Occupancy.

The organisation commended the Federal Government for sustaining housing as a national priority and for introducing reforms aimed at attracting investment into the sector.

HDAN reaffirmed its commitment to working with government, the private sector, development partners, and civil society to advocate policies that will make homeownership a reality for millions of Nigerians.

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