By Lateef Oluwasegun
As Nigeria’s housing deficit climbs to an estimated 28 million units, real estate firm EmmanPlus Porch Homes Nigeria Limited has rolled out a set of strategies aimed at easing the deepening shortage and improving access to affordable homes for ordinary Nigerians.
Industry data indicate that Nigeria’s housing gap has widened sharply from about 14 million units in 2010 to 20 million in 2018, before surging to an estimated 28 million units by 2024.
The crisis has been compounded by high inflation, naira depreciation and the rising cost of building materials, which have pushed home ownership beyond the reach of many Nigerians. Only about 10 per cent of Nigerians who desire to own homes can currently afford to do so, while many households spend more than half of their income on rent.
In response, EmmanPlus Porch Homes said it is adopting cost-efficient construction methods, flexible ownership models and strategic partnerships to help expand housing supply and improve affordability, particularly for low- and middle-income earners.
The company said a key element of its strategy is the increased use of locally sourced building materials and alternative construction technologies, aimed at reducing dependence on imports and cushioning the impact of inflation on project costs.
The rising cost of cement and other inputs has been identified as a major driver of the housing deficit, with prices of key materials more than quadrupling in recent years.
Speaking on the initiative, the Operations Manager of EmmanPlus Porch Homes, Bamidele David Akinmola, said our approach is driven by the need to deliver homes that align with the income realities of ordinary Nigerians.
“Nigeria’s housing challenge is no longer just about numbers; it is about affordability and access,” he said. “At EmmanPlus Porch Homes, we are deliberately rethinking how homes are designed, built and financed.
By optimising construction processes, sourcing materials locally and adopting phased development models, we are able to reduce costs and pass those savings on to homebuyers.”
He noted that weak mortgage financing remains a major bottleneck in the sector, with Nigeria’s mortgage-to-GDP ratio still below one per cent.
To address this, EmmanPlus Porch Homes is expanding rent–to-own and flexible payment schemes, allowing prospective homeowners to spread payments over time without the heavy upfront costs associated with conventional mortgages.
“We recognise that many Nigerians are excluded from traditional mortgage systems,” the Operations Manager said. “Our rent-to-own and structured payment options are designed to bridge that gap and give more families a realistic pathway to home ownership.”
On land acquisition and regulatory challenges, EmmanPlus Porch Homes said it is working closely with state governments, host communities and private partners to secure land through transparent processes, in line with emerging public-private partnership models in the housing sector.
Experts estimate that Nigeria needs to build at least 550,000 housing units annually over the next 10 years to close the deficit, requiring investments in excess of ₦21 trillion. EmmanPlus Porch Homes said sustained private-sector participation will be critical to meeting this target, alongside government-led housing programmes.
The company added that beyond shelter, large-scale housing development has the potential to stimulate economic growth, create jobs across the construction value chain and improve living conditions in rapidly expanding urban centres.
As pressure continues to mount in cities such as Lagos, Akure, Abuja and Port Harcourt, EmmanPlus Porch Homes said its interventions are aimed at delivering practical, scalable solutions that can gradually narrow Nigeria’s housing gap while improving the quality of life for millions of households.
