The Nigeria Labour Congress (NLC) is calling on federal and state governments to direct savings from the petrol subsidy removal toward massive affordable housing development, arguing that such projects would significantly lower living expenses and address the nation's severe housing shortage. Speaking on behalf of the union, Agnes Sessi, Chair of the Lagos State Council of the NLC, proposed establishing rent-to-own schemes focused on one- and two-bedroom apartments targeted specifically at low- and middle-income workers. She urged each state to target building 50,000 to 100,000 units annually, taking inspiration from the effective low-cost housing model pioneered by former Lagos Governor Lateef Jakande in the early 1980s.
This call highlights a critical deficit, with official figures from the National Housing Data Technical Committee placing Nigeria’s shortage at 14.925 million units, while broader assessments that account for substandard structures estimate the deficit at roughly 28 million. The demand also re-examines the allocation of funds since the subsidy's removal in May 2023. According to Finance Minister Taiwo Oyedele, ending the program generated approximately ₦15.8 trillion for the Federation through December 2025, with ₦5.4 trillion allocated to the Federal Government and ₦10.4 trillion distributed across state and local governments.
Enjoying this article? Share it with your network!
Although government officials clarify that these funds represent overall revenue increases rather than a dedicated reserve, Labour argues that states must prioritize their enlarged budgets for vital infrastructure. In addition to residential developments, Sessi urged authorities to invest heavily in power, road network expansions, light rail, public transit, and agricultural settlements to strengthen food security and ease economic burdens for everyday citizens.
Information provided by Edfrica is for awareness purposes only and does not constitute a guarantee or endorsement.
