By Vivian Emoni

The 8th Real Estate and Construction Expo 2026 (RECON 2026) will promote affordable housing, local building materials production and youth skills development.

Dr Johnson Anene, Chairman of the Organising Committee, disclosed this at the expo in Abuja on Friday.

Anene said the initiative would mobilise private sector investment to complement government efforts towards addressing Nigeria’s housing deficit.

He said the deficit was estimated at more than 20 million housing units, requiring stronger collaboration between government and private investors.

“The expo will mobilise private sector resources to complement government efforts towards providing adequate housing for Nigerians.

“Government cannot address the housing challenge alone, making stronger partnerships with private investors necessary.

“The expo aims to engage private sector investment and promote local building materials production to reduce Nigeria’s housing deficit.

“Stronger public-private partnerships are crucial to addressing Nigeria’s housing deficit,” he said.

Anene, also the convener, said the expo’s theme was ‘Exploring Opportunities in the Real Estate Sector for Economic Development’.

He explained that the initiative would encourage local production and use of building materials to reduce construction costs.

According to him, building materials account for a significant proportion of housing production costs, making local manufacturing essential to affordability.

He said reducing production costs locally would lower house prices and improve access to accommodation for ordinary Nigerians.

Anene said the expo would also provide training opportunities for young people and professionals in the real estate and construction industries.

He observed that many graduates continued seeking government employment in spite of limited opportunities in the public sector.

He said the initiative would equip participants with practical skills to become self-reliant and establish businesses.

He added that beneficiaries would also be encouraged to employ others as their businesses expanded, thereby creating additional jobs.

Also speaking, Dr Onyekachikwu Nzekwesi, a stakeholder in the housing and construction sector, urged the Federal Government to improve access to housing finance.

Nzekwesi said successive government interventions had sought to address housing challenges, but inadequate implementation remained a major obstacle.

He called for effective implementation of the National Housing Fund and other policies designed to improve housing delivery.

According to him, accessible housing finance would enable public servants to secure loans through mortgage banks.

He, however, said existing housing support mechanisms remained largely inaccessible to eligible Nigerians.

Nzekwesi alleged that funds were sometimes diverted to unintended beneficiaries and purposes, undermining the objectives of housing interventions.

He urged the government to ensure that eligible Nigerians benefited from the housing fund to improve access to affordable accommodation. (NAN)

VOE/KTO
=========

Edited by Kamal Tayo Oropo