General News, metro
REAL Estate Developers Association of Nigeria (REDAN) says the country can bridge its housing deficit within a decade through faster land titling, improved infrastructure and affordable mortgages.
The President of REDAN, Oba Akintoye Adeoye, disclosed this this in an exclusive interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
The REDAN President who is the paramount ruler of Okeigbo town in Ondo state, also identified
stronger public-private collaboration as a major factor to bridging housing gap.
According to him, faster land administration, improved infrastructure, affordable mortgage financing and stronger public-private collaboration are critical to increasing housing delivery nationwide.
Adeoye said REDAN remains a major contributor to reducing the housing shortage, despite lacking the capacity to eliminate the deficit alone.
“Whatever the size of the shortage, every new building reduces the deficit.
“REDAN may not close the gap alone, but we remain a major contributor,” he said.
Adeoye said governments must prioritise infrastructure to unlock vast areas of land suitable for housing development.
“If we want to bridge the deficit, we must be intentional and pragmatic. We have to close the infrastructure gap first,” he said.
He said many large land areas remained inaccessible because of inadequate roads, electricity and water supply.
Adeoye also described delays in land administration as a major obstacle to housing delivery.
He urged governments to simplify and speed up the issuance of Certificates of Occupancy, Rights of Occupancy and development approvals.
“Land titling requires policy attention. Certificates of Occupancy and building approvals should be processed within one to four weeks,” he said.
According to him, prolonged approval timelines discourages investment and delayed housing projects.
“Some approvals take up to five years.
“That period is enough to complete tens of thousands of housing units elsewhere,” he said.
Adeoye said affordable, long-term financing was also essential to expanding home ownership and boosting housing supply.
“We need affordable funding at single-digit interest rates and long repayment periods.
‘Long-term projects cannot be financed with short-term funds,” he said.
The REDAN President said most Nigerians required accessible mortgage facilities to purchase homes over extended repayment periods.
“Without affordable mortgages, many Nigerians cannot buy houses, regardless of the number built.
‘Mortgage financing is critical to closing the housing deficit,” he said.
Commenting on the Federal Government’s Renewed Hope Housing Programme, Adeoye said the initiative was making progress but required greater commitment.
He urged government to improve affordability and strengthen mortgage support for prospective homeowners.
“The programme is ongoing, but government should be more intentional, make it more affordable and provide mortgages for beneficiaries,” he said.
Adeoye assured Nigerians that REDAN members would continue investing in quality housing despite challenges facing the real estate sector. (NAN)
W.U
June 30, 2026
Tags: Oba Akintoye Adeoye