ABUJA, Nigeria (VOICE OF NAIJA)-Former Vice President of Nigeria, Yemi Osinbajo, has advocated for a major shift towards sustainable housing as a means to address both climate change and the widespread shortage of affordable accommodation.
Speaking at the 75th International Real Estate Federation (FIABCI) World Real Estate Congress, recently hosted by the Nigeria Chapter in Lagos, Osinbajo emphasized the urgent need for environmentally friendly housing policies that also broaden access to shelter.
He stressed that housing must go beyond commercial interests, noting that shelter is a basic human need.
“Every profession that addresses fundamental human needs must reach beyond profit,” he said. “In healthcare, for example, one will applaud a doctor who says, ‘I only do this for money.’ Why? Because he deals with fundamental human problems, life and death. The service of a doctor carries moral weight, and so it must be with real estate as well, especially because it is about shelter, a basic human necessity.”
Highlighting the vital social responsibility that comes with building homes, Osinbajo added that the housing sector must prioritize the underserved.
“The opportunity to be a professional in the providing of homes cannot be just business. It simply cannot just be business because it carries an important social and civic responsibility, providing shelter for all,” he said.
“Practitioners should think about the majority, the millions, especially in the global south, particularly Africa, who are still without decent homes to live in and to provide for their families. Nigeria is growing by six million yearly; that is like adding Liberia to our country yearly.
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That means six million will need shelter, stability and dignity. Yet, in many countries of the Global South, like us, the dream of home ownership is out of reach. Every human and family that they make deserve a home, a decent, healthy place for self and family. But that simple expectation of life is complicated first by the availability of homes, which itself is a function of affordability.”
He pointed to the continent’s rapid urbanization and growing housing gap as critical challenges.
“Africa is urbanising rapidly; by 2050, more than 60 per cent of our population will actually live in cities. Yet we already face a housing deficit of over 50 million units. Aside from affordability, we have the effect of the twin crisis of climate and conflict, and both have continuously destroyed existing housing stocks and hindered the building of urban houses and homes to replenish the stock that is being depleted.”
According to Osinbajo, “Housing is not a luxury, nor is it just an asset class; it is a right, a platform for dignity, stability and opportunity.
We must see both the opportunity and the responsibility in providing homes for all. So, the real estate practitioner is more than a builder of homes or places of commerce.
You are a visionary architect of the society itself, and you are called to lay the foundation for equity to raise the world that shelters dignity and to shape communities that are resilient, inclusive and alive with opportunity. Your works don’t just create spaces but actually create the future.”
Echoing his sentiments, FIABCI Nigeria President, Akin Opatola, said the real estate profession is ultimately about enhancing lives and societal advancement.
“Lagos is a city full of energy and potential, ready to lead the way in innovation and sustainable development,” he said.
FIABCI World President Ramon Riera, in his message to attendees, described the congress as a landmark event for the global real estate industry.
He noted, “Lagos, with its fast growth and vibrant culture, is the perfect place to explore new ideas in real estate and push for a more inclusive, eco-conscious future.”