The Federal Capital Territory (FCT) chapter of Real Estate Developers Association of Nigeria (REDAN) said Nigeria’s housing deficit had exceeded 20 million units, urging the federal government to provide stronger support and incentives to developers to accelerate housing delivery and improve affordability. Vice Chairman of REDAN, FCT Chapter, Mr. Amos Gbadewole, stated this in Abuja while addressing participants at the National Youth Entrepreneurship and Empowerment Programme (YEEP) 2026, where he spoke on entrepreneurship, housing development, and opportunities for young Nigerians.
Gbadewole, who is also Managing Director and Chief Executive Officer of Crown Luxury Properties, lamented the widening gap between housing demand and supply.
He underscored the need for greater collaboration between government and private sector operators to expand access to affordable housing.
“The housing deficit in Nigeria is estimated at over 20 million units for a population of more than 250 million people. That is a huge gap that must be bridged,” he said.
He identified limited access to affordable land, inadequate financing, shortage of skilled professionals, and the rising cost of building materials as some of the major challenges confronting estate developers across the country.
He said, “One of the major challenges facing developers is access to affordable land and access to professionals.
“We also have funding challenges because many developers do not have access to capital to acquire land and build estates.
“The increasing cost of building materials is another major concern.”
Gbadewole acknowledged existing government interventions in the housing sector but maintained that additional measures were required to lower construction costs and make homes more affordable.
“We need government regulations and incentives that can help reduce the cost of building materials. If government comes to the aid of developers as a body, it will go a long way in reducing housing costs,” he stated.
He said targeted support for developers through financing, infrastructure, and policy incentives would help increase housing supply and moderate prices.
Gbadewole stated, “In a capitalist economy, demand and supply determine prices. The cost of inputs affects the final selling price. Building materials remain expensive, but as developers we are encouraging our members to be reasonable with pricing.”
The REDAN leader also expressed support for efforts to strengthen regulation within the real estate sector, stating that a bill before the National Assembly could improve professionalism and investor confidence.
According to him, the proposed legislation would require operators to obtain licences before engaging in real estate business, a move he said would help identify genuine practitioners and discourage fraudulent activities.
“Operators must be known and properly regulated within the industry. The proposed law will help identify genuine developers and protect investors,” he said.
Gbadewole commended ongoing federal government urban renewal and housing initiatives, expressing optimism that sustained intervention and stronger mortgage financing frameworks would help address the nation’s housing challenge.
He said, “With the efforts of the current administration and the support being provided through mortgage institutions, I believe the housing deficit will reduce over time and housing prices will become more affordable.”
Addressing the youth participants, Gbadewole encouraged them to remain focused, disciplined and consistent in pursuing their ambitions, recounting how he built his business from savings accumulated during his National Youth Service Corps (NYSC) year.
He explained, “I was like you 18 years ago when I came to Abuja as a corps member. Your success is assured if you remain focused, consistent and learn to delay gratification.”
Gbadewole disclosed that he started his entrepreneurial journey with savings of N156,000 and had since expanded the business significantly.
“I started building my business with N156,000, which I saved during my NYSC year. Today, by the grace of God, the business runs into billions of naira and we have over 56 estates across Nigeria,” he said.
He urged beneficiaries of grants presented at the event to make prudent use of the opportunities available to them.
Sunday Aborisade
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