Oikus CEO highlights need for scalable housing to meet growing demand
Israel Ihaza, CEO of Oikus, addresses the pressing challenges in Nigeria’s real estate sector. He emphasises the importance of scalable, commercially viable housing solutions in tackling the country’s significant housing deficit. According to Ihaza, technology, transparency, and public–private partnerships are key to driving progress. He also discusses the impact of government funding and the need for systemic reforms to unlock large-scale financing.
TLDR
- Israel Ihaza identifies urbanisation, digitisation, and institutionalisation as the main forces shaping Nigeria’s real estate over the next decade.
- He stresses that bridging the housing deficit requires industrialised construction, structured land assembly, and intelligent financing, not charity-driven solutions.
- The national housing deficit is estimated at between 15 and 28 million units as of 2025, with about 500,000 new units needed annually over the next decade.
- In the 2026 federal budget, the Ministry of Housing was allocated approximately N105 bn, including about N8 bn for 20,000 housing units under the Renewed Hope Agenda.
- Ihaza calls for greater digitisation, policy clarity, and public–private collaboration to make housing more accessible and affordable.
