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13th AIHS: How To Attract Foreign Capital for Housing Finance in Nigeria – Sade Hughes

Speaking at the 13th Abuja International Housing Show that held from 23rd to 26th July 2019, Sade Hughes of Mixta Africa said that while access to housing is an unprecedented global challenge growing fast with rapid urbanisation, the housing problem is more pronounced in emerging markets across Africa, Asia and Latin America.

According to her, the biggest challenges faced by emerging markets like that of Nigeria are fragmentation and inability to meet unprecedented volumes of housing deficit; Inability to align stakeholders and catalyse grassroots impact; challenges in making the economics work, and in a number of cases, housing initiatives are driven by governments who face enormous treasury challenges.

Foreign Direct investments, as important as they are, she said, are attracted more by regions where domestic capital is already being applied to unbridle the potential in these economies.

“In addition to strong economic fundamentals, local capital is required to de-risk opportunities and prove their viability to international investors

“The application of local capital ahead of FDI plays an important role for the sustained growth of local enterprise in an economy,” she said.

According to her, transforming the huge need into bankable opportunity will require public and private sector involvement

“FDI has to be deployed in key areas of the value chain to have the most impact in order to stimulate home production and ownership.

“Foreign capital when applied appropriately can improve an economy’s capacity to create affordable mortgages.

“The creation of mortgages has a huge multiplier effect in stimulating the production of lower middle income and affordable housing because it gives investors a clear exit path.

“Foreign capital is better attracted to opportunities where local capital (public or private sector) has been used to de-risk them.

“Macro economic policy that support liberalisation play an important role in attracting foreign capital inflows,” she said.

By Ojonugwa Felix Ugboja

13th AIHS: Prof Inyangete Charge Built-Environment on Financing Sustainable Buildings

While speaking at the 13th Abuja International Housing Show (AIHS) which held from 23rd to 26th July 2019 in Abuja, Professor Charles Inyangete, Chairman and Chief Executive Officer of Innovative Risk & Investment Solutions (IRIS) Limited, charged stakeholders in the built-environment to finance sustainable buildings in order to grapple with the present and imminent challenges of climate change.

While delivering a paper titled, ‘Financing Sustainable Buildings:  Impact of Built Environment on Climate Change,’ Inyangete said that climate action offers a major opportunity to ensure sustainable global development and boost economic growth. According to him, it is already delivering real results in terms of new jobs, economic savings, competitiveness and market opportunities, and improved wellbeing for people worldwide with even greater investment, innovation, and growth potential ahead.

He said that population growth and urbanization, especially in Africa and Asia, are putting pressure on housing delivery systems, which are often informal or rely on the state. By 2030 Africa, he said, will have more than 50 percent of its population living in cities.

‘’Where formal housing can’t be supplied, informal housing quickly fills the gaps and slums proliferate, creating new development challenges.

‘’While developing countries have made great progress in improving the framework for housing and housing finance, a significant gap remains to access to affordable housing.

‘’Green buildings represent the low hanging fruits in fighting energy crises. One of the cheapest way of cutting GHG emission is to make buildings more energy efficient with low ecological footprint. This is done through retrofitting existing buildings and planning and design of green buildings.

‘’It is estimated that, by adopting green building practices, the world will reduce an estimated 30 % of the global energy demand by 2030.

‘’Green buildings are not rocket science: we find passive architectural elements in vernacular architecture and in most ancient buildings. These buildings rely mostly on passive/natural means for cooling, heating and lighting.

‘’Green buildings are designed to reduce the demand for resources such as: energy, water, land etc. They are also designed to generate much of the energy they consume, using alternative sources of energy such as solar and wind. Excess energy is feed into the national/local electric grid.’’

Sustainability, according to him is development that meets the needs of the present generation, without compromising the ability of future generations to meet their needs. This sustainability, he said, is based upon three components: economic growth, social progress and environmental protection.

Speaking further, he said. ‘’Over 50% of Nigerians already live in cities, 34% below the poverty line and 68% below the empowerment line.

‘’By 2050 Nigeria will be home to 295m people, equivalent to half Europe’s urban population, and only just falling short of U.S. figures. This momentous shift which will bring nearly 200m new people into cities, create over 20 new middle-tier cities, and ensuring Lagos will rival Beijing, Mexico City and Sao Paolo in size.

‘’With cities accounting for est. 75% of greenhouse gas emissions globally, and 53% highly vulnerable to serious and near-term climate change effects,

‘’Nigeria’s cities will be a vital nexus for mitigation and adaptation initiatives. Not only this, but as the country is yet to build the majority of its urban infrastructure, it has the opportunity to leapfrog developed nations by adopting clean technologies and economic strategies early.

“When we have more efficient buildings, we will have less demand on power. Green building is the best way forward. It is a good thing that we now have certification for IFC Edge for green building. We need to encourage regreening in the environment. We need to build the capabilities of our financing and investors to be able to manage climate change risks.”

“We need to collect data because what gets collected is what gets managed. Town planners need to consider the environment while planning. In 2016, Nigeria incurred N351 billion cost for gas flaring,’’ he said.

With a memorable quip, he said, “climate change is not the biggest issue of our time, it is the only issue.”

By Ojonugwa Felix Ugboja

13th AIHS: Collaboration Key to Housing Development in Nigeria – REDAN President, Chime

The President of Real Estate Developers Association of Nigeria (REDAN), Rev Ugochukwu Chime has stated that the current approach to professional practice in the housing development, which is characterised by each professional working largely within the narrow confines of their profession has negative consequences on the development of the real estate industry in Nigeria.

He made this known while speaking at the CEOs Forum of 13th Abuja International Housing Show (AIHS), which held from 23rd to 26th July 2019 at the International Conference Centre, Abuja.

Speaking on ‘Collaboration and Synergy in Real Estate Development: The Way Forward,’ Chime said that ‘’collaboration does not just happen. It cannot come by mere decree or desire. If we all agree that we need to collaborate more in order to serve our clients and humanity in meeting their basic need of a roof over their head, then we must look at ways to achieve the desired end.’’

He said that the lack of collaboration in the industry among other issues are the reason why the country’s housing crisis lingers.

He said; “Nigeria’s current mortgage sector contribution to our GDP is less than 1 per cent. While that of countries like South Africa stand at 20 per cent; Ghana 4 per cent; UK 65 per cent and USA 76 per cent.

“There is an urgent need to create a National Housing Council distinct from the existing National Council on Housing which is domiciled in the Federal Ministry of Housing, and is dedicated to enhance the coordination of activities in of professionals and organisation involved in the supply side of the real estate industry.”

‘’The World Bank estimated that Nigeria’s housing deficit stood at 17 million units as of 2013 (World Bank (2016)). Currently the housing deficit according to FMBN stands at between 17 – 22 million units. The Centre for Affordable Housing Finance in Africa reports that housing production in Nigeria is at approximately 100,000 units per year, while what is needed to bridge the deficit is a minimum of 1,000,000 units per annum housing production.

‘’In terms of mortgage finance, over sixty trillion Naira would be required to address the deficit at an average unit price of three million, five hundred thousand Naira per housing unity. Nigeria’s current mortgage sector contribution to our GDP is less than 1%. While that of countries like South Africa stand at 20%; Ghana 4%; UK 65%; USA 76%. From the CBN data the total number of mortgages in Nigeria is less than 100,000.

‘’Nigeria has a low homeownership rate of 25 percent, lower than that of Indonesia (84%), Kenya (73%), and South Africa (56%). The major issues that continue to affect housing in Nigeria include constraints related to the high cost of securing and registering secure land title, inadequate access to finance, slow administrative procedures, and the high cost of land.

‘’Housing creates jobs and supports inclusive socio-economic growth. In India, each new housing unit generates 1.5 direct and 8 indirect jobs. In South Africa, each housing unit creates 5.62 direct jobs and 2.5 indirect jobs.’’

On the part of REDAN, he said that the association has undertaken to spearhead the advocacy and move to streamline and harmonize the real estate industry so as to use the industry as the bedrock for collaboration massive development, employment generation and inclusive socioeconomic growth, and some of these steps according to him includes, restructuring and involvement of professionals, national real estate data collation and management program(NRE-DCMP), training, endorsement of products and estates, enactment of regulation and more.

Speaking on policy failures, he said that the major challenge with all the policies, initiatives and institution created is the very poor understanding of the transaction dynamics; key stakeholders; value chain interface; lack of political will; very weak linkages; and sustainability of the learning curve improvement. Each policy, he said, is treated as a greenfield project leading to our starting afresh and abandoning critical lessons learnt.

‘’The current economic situation, the impact of technology and global professional trend provide us with two options – collaboration or extinction. This can be considered as a clarion call for all of us in the built-environment sector in this clime to rouse ourselves from the past, see and embrace the future,’’ he advised.

By Ojonugwa Felix Ugboja

The Key Housing Demands at 13th AIHS by Stakeholders

Upon the completion of 13th Abuja International Housing Show, which held from 23rd to 26th July 2019, participants, speakers, developers, and heads of all housing bodies at the event agreed on a number of sustainable and important interventions that will bridge the housing gap in Nigeria.

Below are selected 10 out of these resolutions that have been presented to the government and its several housing agencies for implementation.

1. Creating enabling policies around land title documentations, with government playing a larger role in assisting investors and supporting local building industries and materials.

2. Fast track the passage of foreclosure bill into law to legally resolve default issues in the sector. Also the review of land use act of 1978, Federal Government Housing Loans Board bill (FGHLB), the National Housing Fund (NHF) Scheme Act 1992, Mortgage Banks Act 1989 (subsumed in BOFIA), Federal Mortgage Bank of Nigeria (FMBN) Act 1993, The Trustee Investment Act 1962, The Nigeria Social Insurance Trust Fund (NSITF) Act 1993, The Insurance Act 2002, The Investment and Security Act 1999, The Federal Housing Authority (FHA) Act 1990, Securitization Bill amongst many others.

3. Advance the ongoing partnership between Mortgage Banking Association of Nigeria (MBAN) and the Central Bank of Nigeria (CBN) with regards to the underwriting standards which can increase housing and mortgage affordability for the masses.

4. Building the right skill ecosystem through job-driven training programs spearheaded by private sector industry participation for adoption of trainees.

5. Institutionalisation of collaborations and partnerships between large scale industry players to enhance mass housing provision and affordability.


6. Creating standard data base in African countries especially in Nigeria that can be universally accepted to collate data, identify data gaps, integrate, optimise and expand knowledge set to meet current demands.

7. The policy creation, adoption and financing of sustainable buildings that utilise green approach in construction which integrates topography into developments.

8. To set up an institution such as a National Housing Council to be the focal point for housing research, policy development and implementation, development of suitable housing economic models that fits into local contexts and monitoring of the housing sector.

9.The adoption of high impact training that supports research and data generation by major stakeholders within the industry.

10. To resolve the challenges of affordability mismatch resulting in unsold and unoccupied developed houses especially in our major cities, there is an urgent need for paradigm shift from market driven pricing system to end user driven pricing to ensure houses are provided for those who need and could afford them.

Source: Extract from 13th AIHS communique.

Brig-Gen. Tunde Reis Commends ‘Phenomenal’ 13th AIHS, Reveals Housing Affordability Solutions

Brig-General Tunde Reis rtd was a special guest at the just concluded 13th Abuja International Housing Show.

While speaking with Housing News, the retired officer who started Nigerian Army’s first housing cooperatives said that the 13th Abuja International Housing Show was phenomenal.

‘’I recall when the show started 13 years ago. It was quite small. It started with a really humble beginning. I am impressed to see the scale and the quality that it has come to be today. Of course there is room for improvement, but what we have seen today is phenomenal. It is quite clearly moving towards becoming the largest housing show that it portends to be in Africa,’’ he said.

On solving the housing problems in Nigeria, Reis told Housing news that Nigerians can be optimistic about the prospects ahead.

‘’Housing problems in Nigeria might appear to be enormous and challenging, but challenges are meant to be engaged and gradually overcome. We need to find solution to whatever challenges we have in the housing industry. Nobody else is coming to do it for us.

‘’And to summarise the single most important impediment to affordable housing delivery in my little experience in the industry, I think it is the challenge of affordability. If you can take care of the affordability gap which is the gap between what the end users can afford to pay towards their housing and the cost of the housing, then you can unlock a lot of things.

‘’People say it is absence of mortgages. But even if you have all the money in the world available for mortgages, most Nigerians will not qualify for those mortgages.

‘’So we need to find policies that can address and mitigate the affordability gap that will unlock in fact mass housing because once there is demand, people will find faster and better ways of delivering houses,’’ he advised.

Tunde Reis is currently the founder and CEO of First World Communities – a housing development company focused on large scale development for affordable housing mainly based in Lagos.

By Ojonugwa Felix Ugboja

Hydraform Wins Promoter of Affordable Housing Construction Award

Building construction company, Hydraform has been crowned with Promoter of Affordable Housing Construction Award at the just concluded 2019 Nigeria Housing Awards (NHA) in Abuja on the 26th July 2019.

The prestigious award is in recognition of the organisation’s contribution to the provision of affordable housing and reduction of slum dwelling in many African countries, especially Nigeria.

While speaking at the 13th Abuja International Housing Show, Robert Plattner, the CEO of Hydraform said: “We are going back to the use of earth to build sustainable and affordable housing for people. We are in at least 75 countries all over the world and trusted for our effective delivery and affordability.”

Hydraform is an internationally recognised building construction company with proven track record of delivering works of the highest quality and at the best rates. The company is widely acknowledged as an indomitable force in Nigeria and on the continent when it comes to quality and professionalism. The Abuja International Housing Show is impressed by Hydraform’s ability to reshape and modernise building construction in Africa.

Product wise, the Hydraform Interlocking Soil Block (hydraform block) is an interlocking earth block used in many countries for construction purposes. The hydraform block is made from soil cement which is a mixture of soil, cement and water, and is hydraulically compressed to form a high quality interlocking soil block. Soil from the building site can be used to manufacture building blocks. Sandcrete and landcrete are similar materials but are not compressed.

The Hydraform compressed earth block is very popular due to the cost savings that are involved during the construction process as only around 30% of the structure requires mortar between the blocks. Due to the interlocking nature of the stabilized soil block, unskilled labour can be utilised in construction thereby empowering rural communities and creating jobs.

The blocks interlock top to bottom and front to back. Blocks dimensions are 220 millimetres (8.7 in) wide, 115 millimetres (4.5 in) high and 230 millimetres (9.1 in) long. It weighs approximately 12 kilograms (26 lb). Once blocks are manufactured it is “wet cured” for a period of 14–21 days to reach desired strength.

These impressive features has made them a major force in the building construction industry.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted 30, 000 participants and over 30 international speakers from at least 15 countries from 23rd to 26th July 2019 at the International Conference Center Abuja. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

Royal Ceramics Honours Festus Adebayo with Recognition Award at 2019 Nigeria Housing Awards

The Nigeria Housing Awards and Dinner took place on Friday 26th July 2019 at the International Conference Center Abuja with all leading stakeholders, CEOs and companies in the housing and construction sector present to celebrate each other’s successes in the past year.

The colourful event which marked the end of the 13th Abuja International Housing Show had a lot of special moments including the surprise award for the CEO of Abuja International Housing Show, Festus Adebayo by Royal Ceramics Limited.

It was one of the epic highlights of the night as the CEO of Royal Ceramics, Bhaskar Rao, who had earlier received the award for CEO of Building Materials Company of the Year himself, invited CEO of Abuja International Housing Show, Festus Adebayo to the stage for a surprise award.

Bhaskar Rao said the award was in recognition of the wonderful effort by Festus Adebayo in the advocacy for affordable housing in Nigeria and Africa and for the huge impact of the Abuja International Housing Show which has consistently pulled together local and international experts in housing, construction and finance to collaborate and seek practical solutions to the housing needs in Africa.

According to Mr Rao, the award plague was completely designed and made in Nigeria with Nigerian products – a testament to their company and Abuja International Housing Show’s call for the promotion of local content in Nigeria.

The visibly excited awardee Festus Adebayo couldn’t hide his appreciation for the Royal Ceramics team for deeming him fit for such a prestigious recognition. He also congratulated Mr Rao for his own award and acknowledged Royal Ceramics for their efficiency in the industry, as well as their impactful partnership with Abuja International Housing Show.

The fulfilling night was a mix of soothing music, choreography, dining, wining and laughter.

The Nigeria Housing Awards is dedicated to rewarding excellent performers in the housing and construction sector and to inspire creativity and the kind of hard work that will drive affordable housing in Nigeria.

By Ojonugwa Felix Ugboja

Shelter Afrique Receives Pan Africa Award of Affordable Housing Promoter of the Year

Africa finance institution for affordable housing, Shelter Afrique has won Pan-Africa Award of Affordable Housing Promoter of the Year at the just concluded 2019 Nigeria Housing Awards (NHA) in Abuja on the 26th July 2019.

The prestigious award is in recognition of the organisation’s contribution to the provision of affordable housing and reduction of slum dwelling in many African countries.

Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa.

Speaking at the 13th Abuja International Housing Show, the MD of Shelter Afrique, Andrew Chimphondah said: ‘’At Shelter Afrique, we have a number of initiatives geared towards enhancing housing affordability in Africa. We currently have investments in mortgage refinance companies including NMRC, Kenya Mortgage Refinance Company, CRRH – UEMOA Togo. We also have a Pan African slum eradication programs like the slum upgrading program in Uganda and many more.”

By meeting the needs of the continent’s rapidly growing urban population, their work has a direct and positive impact on the lives of many.

A partnership of 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company, Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.

These include project finance, institutional lending, equity investments and joint ventures, trade finance, and social housing. They also offer practical advice and technical assistance to a wide range of industry stakeholders.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted 30, 000 participants and over 30 international speakers from at least 15 countries from 23rd to 26th July 2019 at the International Conference Center Abuja. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

ESHDC GM, Agu Chukwuemelie Receives CEO of Housing Corporation of the Year

Agu Chukwuemelie, the General Manager, Enugu State Housing Development Corporation has won the CEO of Housing Corporation of the Year at the 2019 Nigeria Housing Awards in Abuja.

Chukwuemelie Agu, until his appointment as the General Manager and Chief Executive Officer of Enugu State Housing Development Corporation (ESHDC), was a successful business manager/administrator. He was recruited into public sector by the present Executive Governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi to be the GM/CEO of ESHDC April 2016, and ha since then achieved laudable objectives in affordable housing in the state.


In a now famous quip, he said, ‘’I don’t think that you can address poverty unless you address the lack of affordable housing in the cities.’’

The Enugu State Housing Development Corporation (ESHDC) is a Parastatal of the Enugu State Government owned 100% by it and is established by “Enugu State Housing Development Corporation Law” Cap. 58 Laws of Enugu State Government 2004.

ESHDC is one of the fully commercialized agencies of the Enugu State Government charged with the responsibility of implementing the State Government housing policy for all classes of people. However, the State Government appoints Board of Directors of the Corporation which usually consist of seasoned and accomplished professionals in the Housing, business and other related sectors of the society. The eight (8) member Board and the Management Committee of the Corporation sees to the policy formation and the day to day running of the Corporation as provided for in the Corporation’s Law, and as directed by His Excellency the Governor of the State.

ESHDC is not subvented by the State Government since it is commercialized, hence generates its own projects and funds same, conducts its business as to ensure positive returns, and to maintain the socio-economic and political outlook of the State Government.

Funds generated by the Corporation are geared towards provision of Houses, Estate Infrastructure and facilities; Maintenance of such Estates and facilities; the day to day running of the Corporation, and remittances to the State Government.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted 30, 000 participants and over 30 international speakers from at least 15 countries from 23rd to 26th July 2019 at the International Conference Center Abuja. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

Nigeria Housing Awards: Family Homes Funds Win Affordable Housing Promoter of the Year

Family Homes Funds, a Federal Government housing initiative intended to support the development of up to 500,000 Homes targeted at people on low income over the next 5 years has bagged Affordable Housing Promoter of the Year Award at the just concluded 2019 Nigeria Housing Awards.

The prestigious award is in recognition of ongoing affordable housing projects being financed by the fund for low and middle income earners across the country.

While receiving the award, the MD of Family Homes Funds, Femi Adewole expressed his appreciation to organisers of the Nigeria Housing Awards and commended his team and partners in the housing sector for chasing the much needed dream of ensuring that Nigerians, irrespective of their income level, can have access to one of their most important needs – shelter.

In partnership with the Central Bank of Nigeria, Ministry of Finance and international financial institutions, Family Homes Funds has become a pivotal force in delivering affordable housing to Nigerians through multiple schemes including Help-to-own, Rent-to-own, affordable and flexible mortgage plans among others.


The Funds has so far developed at least 1000 homes with another 3000 at different stages of development. They have been able to create about 1400 jobs through these projects. Over 500 units have been completed in Nasarawa state, 750 in Kano, 650 in Delta and many more all over the country.

According to Femi Adewole, the Fund is here because it is not enough to supply houses without taking care of the demand side. Their role is primarily to meet affordable housing demands in Nigeria, and this has already earned them a Nigeria Housing Awards after taking off barely a year ago.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted over 30 international speakers from at least 15 countries. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

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