A real estate firm, Jibzit Properties Limited has expressed concern over the lingering housing deficit in the country, revealing that Nigeria is grappling with over 28million housing deficit.
Of this figure, Kwara State is contending with about one million housing deficit.
The Chief Executive Officer of Jibzit Properties Limited, Dr Azeez Olayinka Adigun, disclosed this on the sidelines of the Inaugural Kwara Real Estate Conference (KWAREC) 2025 held at Banquet Hall, Opposite Government House, Ilorin, weekend.
Themed “Aspiring To Elevate”, the conference was at the instance of Jibzit Properties Limited in partnership with Kabad Nigeria Limited.
Adigun, however, averred that the solution to insufficient housing requires collaboration between the government and private sector players, adding that government cannot solely shoulder the responsibility.
“Solution to housing problem does not lie with the government alone. As a matter of fact, the government is a facilitator to bring the solution to the housing problem that we all have. Nigeria, overall, has over 28million housing deficit. Kwara alone has probably over a million.
“So, who is going to provide this million housing units for families, individuals and organizations? Private sector has to come in, partner with the government or get the government to facilitate and make things easy for them to be able to help in providing solution to housing problems and challenges,” he said.
Adigun noted that Kwara is positioned as a gateway for both the North and the South due to its natural endowment in tourism and agro-allied, saying that the relative peace and stability being enjoyed in the state makes it suitable for real estate investment.
He said, “Kwara State has enormous potential that all of us can tap into. Kwara State is like a sleeping giant, which has been there like forever. And you know that when you have a sleeping giant, you need something to stimulate it to wake up.
“Kwara State is strategically positioned as one of the states in the country, which has equal proximity to both the North and the South; the gateway state. I know people refer to Ogun State as the gateway state. But I think in terms of geographical location, Kwara State is the gateway.
“Kwara State has enjoyed relative peace and stability for a long time, and that goes without saying that it is very stable, amiable and harmonious for business to thrive for everyone. We have been doing projects in Kwara State for sometime and we have seen the potential that Kwara State brings to everyone of us.
“We know that there a lot of potential in tourism, agro-allied, and most especially real estate sector in Kwara State. Because we know that there is a synergy between the real estate and tourism. And as you know, Kwara State has a lot of tourism potential scattered everywhere. So, this conference stands to bring all these opportunities and potential to synergize and harmonize as one.
“Without doing this, everything will just be done in bit and we don’t want anything in bit. We want people to join us and have the strength in unity. This is why we are all coming together to think about ways so as to take Kwara State to where it actually and truly belongs.”
He disclosed that his firm is planning to invest heavily in real estate sector to help tackle the challenge of housing deficit in the state.
“The government has their own plan, obviously. Ours is just to key into part of the plan. I think it might be premature to start saying we are going to be investing this amount into this.
“But we are hoping to invest massively, because the investment is not only to bring benefit to ourselves. The investment is to bring grand benefit to everyone concerned. I always say that real estate is the business of everyone,” the real estate expert maintained.
In his remarks, the Kwara State Commissioner for Urban and Housing Development, Dr Segun Ogunsola, said the ongoing Kwara Smart City project is designed to house no fewer than 540,000 residents of the state.
He explained that the planned city, when operational, will factor in residential, commercial, industrial and recreational facilities, adding that it is poised to integrate social, economy and environment.
Ogunsola said the smart city is conceived to cater for the nation’s population explosion expected in the next two decades and a half.
He noted that the government, as part of its urban renewal project, has improved the state infrastructure with quality road network.
“It has been predicted that Nigeria, in the next 25 years, will become the third most populous country in the world. So, we have India, China and others. And the question lies. What are we doing preparatory for this demographic fact in all aspects of our lives; economy, agriculture, environment, housing, infrastructure.
“So, as a government, His Excellency’s vision for Kwara has to do with having ability to address these problems without comprising our tomorrow. The Governor, having looked at the challenges of accommodation in Ilorin and of course our towns in Kwara, brought about the idea of Kwara Smart City. A city for tomorrow. A city that would house 540,000 people, well planned in the areas of residential, commercial, industrial and recreational. A city that is poised to integrate social, economy and environment.
“This is a government that does not just think about the future. It focuses on today. For anyone who has not visited Ilorin in the last five or six years, you see a massive change in our urban scape. It is certain that you see panoramic change from Ahmadu Bello Way and every nook and cranny of this town (Ilorin). His Excellency has worked tirelessly to ensure that we live in a more sustainable manner,” he said.
Also speaking at the event, the Attorney General and Minister of Justice, Lateef Fagbemi, SAN observed that it is herculean for the government to meet the accommodation need of the people owing to the limited resources at its disposal.
Fagbemi, who spoke through an Ilorin-based Senior Advocate of Nigeria, Kehinde Kolawole Eleja, noted that shelter has remained a major issue around the globe, hence the imperative of private sector practitioners collaborating with the government to curb the ugly trend.
He urged the convener of the conference to take into account quality assurance and compliance with regulatory framework with a view to preventing likely hurdle.
The conference, with traditional rulers in attendance, featured presentation of papers, panel discussion and presentation of awards to eminent Kwara industrialists.
END.
