‘Africa requires $93bn yearly to close infrastructure deficit’

The Director of the Centre for Housing and Sustainable Development at the University of Lagos, Professor Timothy Nubi, has said Africa requires an estimated $93bn every year to address its infrastructure deficit, warning that failure to mobilise these funds could exacerbate poverty, strain urban services, and threaten sustainable development across the continent.

He disclosed this at the 3rd International Conference and Fair on Land and Development & 7th Annual Lateef Jakande Lecture themed, “Sustainable Land Development and Urban Infrastructure in Africa”.

He said, “Our theme is not merely academic; it is an urgent call to action. Africa stands at a defining crossroads. We are the continent of the future, experiencing the fastest rate of urbanisation globally. By 2050, our cities will accommodate an additional 950 million people. Yet this growth presents both promise and peril. Alongside economic potential, we face mounting challenges: infrastructure deficits, weak land governance systems, climate vulnerabilities, and increasing pressure on institutions and resources.

“Africa faces a perfect storm of deep poverty, infrastructure backlogs, weak institutional capacity, and a critical shortage of the estimated $93bn in annual funding required to meet our infrastructure needs. Failure to manage this growth sustainably risks birthing chaotic, inequitable, and environmentally fragile urban environments.”

Meanwhile, the president of the Real Estate Developers Association of Nigeria, Akintoye Adeoye, said the nation faces a growing housing deficit, with challenges ranging from inadequate financing mechanisms to rising construction costs.

He said, “This lecture series provides an opportunity to explore sustainable solutions for housing finance, drawing lessons from both Pa Jakande’s visionary models and contemporary approaches to infrastructure investment. We aim to inspire collaboration between government, private sector developers, financial institutions, and other stakeholders to create inclusive housing solutions that are economically viable and socially impactful.

“REDAN remains committed to promoting a housing ecosystem that is transparent, organised, and responsive to the needs of Nigerians. We continue to advocate for policies that reduce the cost of housing production, expand access to financing for developers and homebuyers, and foster an environment where affordable housing is not a privilege but a right. Our efforts align closely with Pa Jakande’s philosophy of public-private collaboration to address housing challenges effectively.”

Speaking on land reforms, the Minister of Housing and Urban Development, Ahmed Dangiwa, said land reform alone cannot unlock the promise of urban development unless it is matched with infrastructure transformation.

He said, “This is why under the National Urban Renewal and Slum Upgrade Programme, we have already completed more than 150 urban renewal and slum upgrading projects across the six geopolitical zones, providing roads, drainage, water, schools, power and sanitation to underserved communities.

“In this spirit, let us embrace collaboration. Universities must research. Government must implement it. Industry must innovate. Development partners must scale solutions. And students must bring fresh digital thinking to the table. The future of African cities will be shaped by data, technology, transparent institutions and people-centred planning. Let this conference translate research into reform, partnerships into projects and dialogue into delivery.”

Speaking on Lateef Jakande’s achievement, the Commissioner for Housing, Moruf Akinderu-Fatai, noted the importance of efficient land governance.

He said, “Jakande’s success was built on the rapid mobilisation of land and the seamless coordination between planning authorities and project teams. In today’s context, this calls for reforms that ensure more transparent land allocation, more predictable approval processes, and strategic integration of housing with transportation corridors, utilities, and job centres.

“Jakande’s housing quality was not an accident; it was the result of clear oversight structures. For housing to be truly affordable, the integrity of construction must never be compromised. This is why Lagos continues to invest in engineering supervision, digital monitoring, and a culture of rigorous inspections. However, as a third improvement of Jakande’s model, we must also ensure maintenance of the facilities. Most importantly, Jakande reminds us that housing is not a luxury; it is a basic amenity. As such, we must continue to reach the grassroots with our housing solutions. If Nigeria must compete globally, its housing systems must support its people.”