REDAN Says Affordable Mortgages, Faster Land Titling Can Close Nigeria's Housing Deficit in 10 Years
Affordable Mortgages, Land Reforms Key to Solving Housing Deficit
Nigeria could substantially close its housing deficit within the next decade if governments prioritise affordable mortgage financing, faster land administration, improved infrastructure and stronger collaboration with private developers, according to the Real Estate Developers Association of Nigeria (REDAN). The association argues that addressing these structural barriers would significantly increase housing delivery and improve access to home ownership across the country.
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REDAN President, Oba Akintoye Adeoye, made the case during an interview with the News Agency of Nigeria (NAN), noting that while private developers remain committed to expanding housing supply, policy reforms are essential to unlock large-scale residential development and bridge the country's housing gap.
Affordable Mortgages Key to Expanding Home Ownership
Adeoye identified affordable, long-term mortgage financing as one of the most critical requirements for addressing Nigeria's housing shortage. He said many Nigerians are unable to purchase homes because mortgage products remain expensive or inaccessible, despite increasing demand for housing.
He called for single-digit interest rates and longer repayment tenures, arguing that housing projects cannot be sustainably financed with short-term, high-cost funding. Expanding access to affordable mortgages, he added, would stimulate housing demand while enabling developers to deliver more homes to the market.
Faster Land Titling Needed to Unlock Development
The REDAN President also described delays in land administration as a major obstacle to housing development. He urged state governments to streamline the issuance of Certificates of Occupancy, Rights of Occupancy and development approvals, recommending that approvals be completed within one to four weeks instead of the months or years often experienced by developers.
According to Adeoye, prolonged approval processes increase project costs, discourage investment and delay the delivery of much-needed housing. Faster land titling would improve investor confidence and enable developers to commence projects more efficiently.
Infrastructure Investment Remains Critical
Beyond financing and land administration, REDAN emphasised that infrastructure provision is essential to expanding housing supply. Adeoye noted that many suitable parcels of land remain undeveloped because they lack access to roads, electricity, water supply and other basic infrastructure.
He argued that strategic public investment in infrastructure would unlock new areas for residential development, reduce construction costs and encourage greater private sector participation in housing delivery. Strengthening public-private collaboration, he said, would further accelerate progress towards reducing the national housing deficit.
Implications for Nigeria's Housing Market
The recommendations reinforce longstanding concerns within the housing sector over the structural challenges limiting home ownership and residential development. Limited mortgage penetration, slow land administration, rising construction costs and inadequate infrastructure continue to constrain both housing supply and affordability.
For developers and investors, reforms in these areas could improve project viability, reduce regulatory delays and create a more predictable investment environment. Improved access to housing finance would also strengthen demand, supporting broader growth across Nigeria's real estate market.
Conclusion
REDAN's proposals highlight the importance of coordinated policy reforms in addressing Nigeria's housing challenge. While private developers remain central to increasing housing supply, the association argues that affordable mortgage finance, efficient land administration, supporting infrastructure and effective government-private sector collaboration are essential to achieving meaningful progress. If implemented consistently, these reforms could significantly accelerate housing delivery and place Nigeria on a more sustainable path towards reducing its housing deficit over the next decade.
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