Ex-REDAN President: Lower Building Costs to Make Housing and Rent Affordable

A former president of the Real Estate Developers Association of Nigeria says Nigeria’s housing crisis begins with the rising cost of construction, not rent alone. He said developers face increasing costs for land, cement, steel, roofing, labour, finance, energy and infrastructure. These expenses are eventually reflected in house prices and rents. He urged government to reduce the cost of building materials, expand access to affordable long-term financing, support local manufacturing and cut energy and transport costs. He argued that lowering construction costs would increase housing supply and gradually make rents more affordable.

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