The Lagos State chapter of the Real Estate Developers Association of Nigeria (REDAN) says collaboration between governments and the association was the tool needed to address the housing deficit in the country.

Bamidele Onalaja, the chairman of the association in Lagos, said this in an interview on the sidelines of the REDAN Lagos State chapter’s second edition of the stakeholders’ summit in Lagos.

He said that more than 18 to 20 million housing deficits had been recorded across Nigeria, and it might take 10 to 15 years before the deficit rate is reduced.

“REDAN is one of the biggest associations of real estate practitioners in Nigeria that is building affordable and decent homes.

“Unfortunately, the major class of people affected by the housing deficits are those working in the informal sector and the low-income earners,” he said.

According to him, the federal and state governments are partnering with the association by giving lands to REDAN members to enable them to build affordable houses.

The chairman mentioned other issues contributing to the housing deficit: challenges in the built environment, lack of access to funds by developers, inflation and lack of collaboration with the government.

Mr Onalaja assured that REDAN members have the huge capacity to bridge the gap in the housing deficit, just as the registered developers were embarking on massive development to develop Lagos.

“Ninety per cent of developers in Lagos are REDAN members, and we have the capacity and funds to deliver on our mandate, just as we are doing in Lekki, Ikoyi, Agege, Iyana Ipaja.

“All we need is more collaboration from the governments. We want the governments to ensure that all developers are registered under the association before they can practice. We also want the governments to empower REDAN the more,” he said. 

(NAN)