AHCN Calls for Strategic Policies to Transform Nigeria's Housing Sector into Economic Engine
Eno Obongha, President and Chairman of Council, Association of Housing Corporations of Nigeria (AHCN), has called for strategic policies to transform Nigeria's housing sector into an 'engine room' for economic development. Speaking at the 2025 World Habitat Day in Abuja, Obongha highlighted the sector's immense potential for job creation and inclusive growth.
Nigeria's housing and real estate sector contributed over N11 trillion to GDP in 2024, ranking third among all economic sectors. In the first quarter of 2025, the sector contributed 17.4 per cent to GDP, with forecasts predicting growth of 6-8 per cent for the year. Despite this, Obongha expressed concern that the sector's potential remains untapped.
To reposition the housing sector, AHCN outlined 11 key strategies. These include a renewed commitment to social housing and promotion of local building materials. Obongha also called for structured large-scale rental programmes for low- and middle-income earners, identifying rental housing as a vital market segment. He commended the Ministries of Housing and Health for initiating the Medic Cities project to provide accommodation for medical personnel. AHCN wants deliberate government intervention and responses to housing development, especially in urban centers, to address the housing deficit.
Obongha emphasized the importance of harmonising the Renewed Hope Housing Agenda with state governments to achieve sustainable implementation. He urged governments at all levels to take appropriate measures to prevent unnecessary building collapses and unjustified demolitions, which often lead to resource-intensive disasters and displacement of affected residents. With the housing sector's significant contribution to the economy, AHCN's call for strategic policies aims to harness this potential for economic recovery, job creation, and inclusive national development.
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