Amidst Nigeria’s housing deficit crisis, Gbenga Adigun, co-founder of Rebar Perfecta, shared insights on tackling the issue of affordable housing for the middle class during his recent appearance on TVC’s “Business Nigeria” talk show.
Adigun highlighted the urgency of policy interventions, financial mechanisms, and collaboration between the government and private sector to address the housing affordability gap. He stressed the need for a strategic blend of these elements, asserting that affordable housing is achievable with concerted efforts.
Proposing solutions, Adigun advocated for tax incentives for real estate developers, suggesting that tax breaks could alleviate the financial strain of building mass housing projects, ultimately benefiting middle-class homeowners.
Drawing inspiration from successful housing initiatives like Festac and Gowon Estate from the 1970s, Adigun emphasised the importance of replicating such strategies on a larger scale to meet Nigeria’s escalating demand for affordable housing.
With Adigun’s expertise, there’s optimism for progress in bridging the housing deficit and making homeownership more attainable for Nigeria’s middle class.
In his words, Adigun stated, “All we need is a combination of policy interventions, financial mechanisms, and a collaborative effort between the government and the private sector. Affordable housing can be done easily.”