Wike Directs APDC to Put Affordable Housing First in the FCT
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FCT Minister Nyesom Wike has told the Abuja Property Development Company to prioritise affordable homes for ordinary residents and civil servants as new districts open up, warning that real estate is about households rather than concrete and glass.
Minister of the Federal Capital Territory (FCT) Nyesom Wike has directed the Abuja Property Development Company (APDC) to prioritise affordable housing as road construction and infrastructure expansion open up new districts in the Nigerian capital. Wike, who was represented by the group managing director of Abuja Investments Company Limited (AICL), Ambassador Maureen Tamuno, gave the charge at APDC's 20th anniversary symposium in Abuja.
He urged the company to focus on housing that meets the needs of ordinary residents, civil servants and middle-income earners rather than measuring development by the size or appearance of buildings. “Real estate is not about concrete, steel or glass. It is about households and families,” Wike said, calling on APDC to adopt modern construction technologies to cut building costs, accelerate delivery and pursue energy-efficient homes and mixed-income estates.
APDC acting managing director Akeem Kolawole Aderogba said infrastructure costs account for between 30 and 40 per cent of total development costs and are a major obstacle to affordability. “If government can come to the aid of developers by providing infrastructure, it will reduce the cost of housing,” he said, proposing a partnership in which government provides land and infrastructure while developers concentrate on construction.
Aderogba disclosed that more than 800 families have moved into the company's 50-hectare estate in Kaba District, while the Kasana project is expected to accommodate at least 200 families and the Idogwari development about 150 homes. He added that APDC is working with mortgage institutions, including the Federal Mortgage Bank of Nigeria through the National Housing Fund, to improve access to home ownership, particularly for civil servants.
Emmanuel Abudele, head of business development and chairman of APDC's 20th anniversary planning committee, identified high land costs and expensive financing as further barriers. “Land is the major thing in real estate development. So, if the cost of land is subsidised or regularised, then developers will have access to land, and building houses will be easier,” he said, urging government to encourage single-digit interest loans for developers.