Nigeria has the world’s greatest number of homeless people. Within the nation, 24 million people don’t have homes, data from World Population Review has reported.
According to the report, Nigeria is the most populous country in Africa, and this presents an epidemic of homelessness throughout the nation.
It stated, “Over 24 million people are considered homeless, with many more not having appropriate access to a proper dwelling that has access to some of the most basic services. With this being said, Nigeria is not as deep in poverty as others may think, as there are a lot of resources contained within the country. Much of the issue is due to access to wealth, which is often exploited by other countries or even their state.
“Furthermore, because of its large size, Nigerians experience a huge influx of both immigration and emigration, which changes the ownership of houses frequently. This could be a good thing, in theory, but usually, this also means that natural gentrification occurs, as investors are looking to build more elaborate and expensive houses to procure a higher rental income or to flip into a more profitable business venture. With this being said, Nigeria also has a lot of land for sale, so philanthropic and charitable organizations could take advantage of this to create a more acceptable situation.”
In an estimation of the top 10 out of 85 countries ranking on homelessness, Nigeria emerged the highest with 26.70 per cent.
Nigeria Poverty ranking
Nigeria ranked first among the top 10 countries with 24,400,000 followed by Pakistan, 20,000,000; Egypt, 12,000,000; Syria, 6,568,000; DR Congo, 5,332,000. Bangladesh occupied the sixth position with 5,000,000 while Colombia came next with 4,943,000. Others on the list are Afghanistan, 4,660,000; Philippines, 4,500,000; and Yemen, 3,858,000.
In an earlier report, experts in the Nigerian built industry decried the drop in percentage of homeownership rate in Nigeria, from 25 per cent to 20 per cent in 2023.
They linked the decline in homeownership rate to high inflation, mortgage rates, flooding, and building collapse.
The Director of Research and Innovations Office, Faculty of Environmental Sciences, University of Lagos, Professor Timothy Nubi, told The PUNCH that there could never be affordable housing with the country’s 63 per cent poverty base.
He said,” It is time to unbundle affordable housing, redefining our discussion to affordable homeownership and affordable rental housing. Despite housing being the foundation of the American dream, homeownership in America today is about 72 per cent.
Nigeria data
“Nigeria is a nation without data. However, considering the poverty level, the homeownership rate should be less than 20 per cent.”
Similarly, Victor Adegbile, the Chief Executive Officer of Land Republic, emphasized that homeownership in Nigeria faces entanglements of affordability and availability challenges, and he stressed the necessity of a comprehensive approach to unlock a brighter future where homeownership exceeds 20 percent.
He said, “The foremost step involves offering substantial incentives to first-time homeowners across Nigeria. To achieve this, grants and low-interest loans are vital tools to hinder the financial burdens that often hinder aspiring homeowners.
“Another vital catalyst for boosting homeownership in Nigeria is the implementation of affordable housing initiatives. However, this would be easier if there was a synergy between the government and private developers. It is crucial for the government and real estate developers to collaborate and focus their efforts on constructing budget-friendly housing units across the country. “
Meanwhile, the Managing Director of Fame Oyster & Co. Nigeria, Femi Oyedele, said Nigeria’s homeownership at 20 per cent was not a good record.
He said, “Countries like the United States of America have a homeownership rate of 66 per cent as of the fourth quarter of 2022. In the same 2022, 68 per cent of householders in the United Kingdom were homeowners. Countries like Laos had 96 per cent, Romania had 95 per cent and war-torn Vietnam had 90 per cent.