In a bold move to address the high cost of housing construction in Nigeria, the Federal Government, through the Ministry of Housing and Urban Development, has announced a high-level stakeholders’ meeting aimed at tackling key challenges in the building materials manufacturing sector.
The meeting, set for February 20, 2025, at Radisson Blu in Ikeja, Lagos, will bring together industry experts, manufacturers, and policymakers to discuss ways to lower production costs and improve local access to building materials.
The government acknowledges that high production costs, limited access to incentives, and dependence on imported building materials have significantly hindered the growth of Nigeria’s housing sector.
As part of efforts to reverse this trend, the upcoming meeting will focus on strategies to boost local production, create an enabling environment for manufacturers, and strengthen public-private partnerships in the housing industry.
According to the Ministry of Housing and Urban Development, engaging with stakeholders is critical to formulating sustainable policies that will lower the cost of construction.
Experts argue that a reduction in building material costs will translate to more affordable housing for Nigerians, easing the burden on low and middle-income earners who struggle to own homes.
Festus Adebayo, Convener of the Africa International Housing Show (AIHS), has been invited to participate in the discussions. As a prominent advocate for housing sector reforms, Adebayo is expected to provide insights into how policy interventions and industry collaborations can drive cost-effective housing development.
Adebayo is among stakeholders that will champion calls for increased government support for local manufacturers, better financing options, and policy incentives that will reduce the dependency on imported materials.
The Africa International Housing Show has consistently advocated for practical solutions to Nigeria’s housing deficit and sees this engagement as an opportunity to push for industry-wide reforms.
The 19th edition of AIHS which will hold from the 26th to the 31st July 2025 at the prestigious Transcorp Hilton, Abuja Nigeria is another opportunity to further the conversation on how to reduce housing construction cost in order to provide affordable homeownership and boost businesses.
With the government’s renewed commitment to tackling the housing affordability crisis, stakeholders are optimistic that this meeting will lead to actionable steps that will bring down construction costs and accelerate housing delivery across the country.
