The Association of Housing Corporations of Nigeria (AHCN) has sounded the alarm over Nigeria’s deepening housing crisis, warning that low- and middle-income earners are increasingly priced out of the property market.
The concerns were raised at the end of a two-day high-level strategy session focused on redefining affordable housing and strengthening the role of housing corporations in Nigeria’s evolving real estate sector.
While commending the Federal Government’s Renewed Hope Housing Initiative—currently delivering three housing cities and 12 estates nationwide—the association expressed concern over the absence of clearly defined roles for state housing corporations in the programme.
According to AHCN, these corporations are critical to delivering affordable housing and must be fully integrated into the initiative’s implementation framework.
The body also highlighted a growing paradox in major urban centres such as Abuja and Lagos, where rising housing shortages persist despite a glut of unoccupied properties developed by private investors.
It noted that most of these houses remain unaffordable for average Nigerians, thereby failing to address the needs of low-income earners.
AHCN called on state governments to empower housing corporations with better access to land and financing, warning against policies that weaken their operations. It specifically criticised the practice of merging housing corporations with ministries or stripping them of statutory responsibilities, describing such moves as violations of the National Housing Policy.
The association also pointed to existing low-interest funding windows for housing development but urged governments to support housing agencies in accessing them.
While acknowledging the impact of the Mofi Real Estate Investment Fund (MREIF), which has disbursed over ₦97.6 billion for housing acquisition, AHCN said strict conditions such as sovereign and bank guarantees continue to limit access to funds.
It therefore urged financial institutions and development partners to design more flexible financing models tailored to housing corporations.
In response to rising construction costs driven by inflation and foreign exchange instability, AHCN advocated the adoption of alternative building technologies such as Hydraform and other locally sourced materials to reduce costs and improve affordability.
The association further stressed the need to integrate Nigeria’s vast informal sector into housing schemes, noting that their exclusion has significantly widened the housing deficit. It recommended strengthening housing cooperatives as a pathway to expanding access for informal workers.
AHCN also called for stronger collaboration among key housing institutions, including the Federal Mortgage Bank of Nigeria and Family Homes Funds, to unlock long-term financing and boost mortgage accessibility.
Expressing concern over declining public confidence in government housing agencies, the association urged comprehensive structural reforms to improve efficiency, transparency, and service delivery.
The body commended the Abuja Property Development Company Limited for hosting the strategy session, describing it as a demonstration of commitment to advancing Nigeria’s housing sector.