8th to 12th May 2023
Political Economy in the Built Environment

Case of Nigeria

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Case of Nigeria

Nigeria is the most populated nation in Africa. It is also one of the most rapidly urbanizing countries in Africa, and according to the World Bank, with over %53 of the population in the country living in urban areas. Nigeria has a population that is becoming more skewed to the urban areas, towns, and cities. Rural-urban migration has been identified as a significant force driving urbanisation growth, bringing with it opportunities and challenges for cities.

Moreover, insecurity in some parts of Nigeria is contributing to the urbanisation drive, with social and economic consequences. For instance, rampant organized criminal banditry, climate change-induced tensions between farmers and herders, and identity-based conflicts have caused millions of Nigerians to flee their homes, many of whom seek refuge in Nigeria’s cities.

Despite the critical role of the Housing and Built Environment Industry in achieving social and economic development in Nigeria, the industry is facing a myriad of challenges which continues to limit its potential. There is a dearth of adopting modern, scalable, and sustainable practices in the industry.

Introduction & Background
Moreover, it is worth noting that mortgage finance remains a marginal percentage of Nigeria’s GDP, which continues to limit the deepening of the role of the financial sector in the housing value chain.
However, the industry has potential and opportunities to be explored by the public, private and other relevant stakeholders.

It is worth noting that the real estate sector grew by %3.85 in Q2021 2 from 1.77 per cent in Q2021 1 (Uroko, 2021); this is a positive trend considering the fact that the sector contracted by 21.99 per cent in Q2020 2.

Moreover, it is worth noting that mortgage finance remains a marginal percentage of Nigeria’s GDP, which continues to limit the deepening of the role of the financial sector in the housing value chain.
However, the industry has potential and opportunities to be explored by the public, private and other relevant stakeholders.

It is worth noting that the real estate sector grew by %3.85 in Q2021 2 from 1.77 per cent in Q2021 1 (Uroko, 2021); this is a positive trend considering the fact that the sector contracted by 21.99 per cent in Q2020 2.

housing units delivered

Moreover, the Nigerian housing and built environment have witnessed notable results as a result of several public and private sector engagements. For example, the Family Homes Fund, Federal Mortgage Bank of Nigeria and several private sector developers have cumulatively delivered an estimated 24,000 housing units over the past four years.
Moreover, to address the economic challenges of the COVID pandemic, Nigeria’s federal government approved the 5.9$ billion Nigerian Economic Sustainability Plan (ESP). The strategy costs roughly %1 of GDP and is intended to stimulate and diversify the economy, retain, and create jobs and extend more protections to the poor. The recovery plan includes investments in clean energy, agriculture, and infrastructure.

An important aspect of the ESP is the government’s commitment to delivering up to 000 300 homes on an annual basis. And the National Development Plan (NDP) 2025 – 2021 aims to improve access to affordable housing in Nigeria and also enhance linkages between the housing sector and the real estate contribution.
Emerging initiatives such as Proptech start-ups are gradually gaining ground, which enhances the implementation of technology to improve processes in the housing market value chain.

Moreover, it is worth noting that mortgage finance remains a marginal percentage of Nigeria’s GDP, which continues to limit the deepening of the role of the financial sector in the housing value chain.
However, the industry has potential and opportunities to be explored by the public, private and other relevant stakeholders.

It is worth noting that the real estate sector grew by %3.85 in Q2021 2 from 1.77 per cent in Q2021 1 (Uroko, 2021); this is a positive trend considering the fact that the sector contracted by 21.99 per cent in Q2020 2.

How to participate?

Registration, Schedule, Who can participate?

Key Focus Areas

5

Introduction & Background

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5

Rationale and Gap to fill

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5

Role of Shelter Afrique

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5

Speakers

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