Private Sector Collaboration Key to Solving Nigeria’s Housing Deficit, Says Soneye

Damilola Soneye, Chairman of the Housing Committee of the Ogun State House of Assembly, has emphasized the need for stronger collaboration between the private sector and government to address Nigeria’s housing deficit.

Soneye praised Governor Dapo Abiodun’s significant investment in affordable housing, highlighting over five new housing estates across the state, including Abeokuta, Sagamu, Ilaro, Ijebu Ode, Iperu, Kobape, and other locations.

Nigeria’s housing deficit currently stands at approximately 28 million units, requiring about N21 trillion to bridge. The shortage is largely attributed to population growth outpacing housing supply, affecting low- and middle-income households due to high property costs and limited affordable options.

Soneye made the remarks during the commissioning of a housing estate project in Bara, Orile Imo area of Obafemi/Owode Local Government, facilitated by High Chief Olakunle Olalekan. The lawmaker commended Olakunle Olalekan’s initiative and urged other private individuals and corporate organizations to follow suit, supporting the government in providing affordable housing.

“We are really excited to see what Chief Olakunle Olalekan is doing with this housing project. It aligns perfectly with Governor Abiodun’s vision for private sector collaboration to upgrade infrastructure and improve living standards,” Soneye said.

He also praised Abiodun’s efforts in ensuring convenient and secure living for residents through projects like Prince Court Estate in Abeokuta.

Olakunle Olalekan expressed his readiness to commit further resources to developmental projects, thanking Governor Abiodun for creating an enabling environment for private individuals to contribute to the state’s development vision.

The community leader also distributed cash grants and working tools to selected community members, coinciding with his birthday celebration.