By Luminous Jannamike

ABUJA – The Coalition of Civil Society Group in Nigeria (CCSGN) has commended the transformation of Shelter Afrique into Shelter Afrique Development Bank (ShafDB), expressing hope for the future of Nigeria’s housing sector.

The transformation was approved during the Extraordinary General Meeting (EGM) of Shelter Afrique held in Algiers, Algeria.

Speaking to journalists in Abuja, Comrade Paul Samuel, the Executive Director of CCSGN, hailed the decision, noting that the pan-African finance institution, owned by 44 African countries, specializes in providing financial support for the development of the housing and real estate sectors.

“The transformation promises to reshape the landscape of housing and urban development,” Samuel said.

However, Samuel urged the financial institution to focus on Nigeria, the second largest contributor of funds to the institution, noting that the country suffers a housing deficit of over 40 percent of Africa’s total deficit.

“Shelter Afrique must know that Nigeria has a population of over 200 million people. Their impact must be noticed seriously across our country,” he added.

He further emphasized the urgency of addressing Nigeria’s housing needs, particularly in rural areas which are experiencing increasing urbanization pressures.

“The downtrodden are mainly in rural areas, they need a roof over their heads. Nigeria’s over 40 percent housing deficit is as a result of banditry, flooding, kidnapping, and other natural disasters.

“We seriously call on Shelter Afrique to immediately collaborate with the relevant body or institution in tackling the housing deficit in Nigeria,” Samuel stated.

Moreover, he expressed his anticipation for the impact of Nigeria’s newly appointed Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa, who presided over the deliberations as the Chair of the General Assembly Bureau, and Chii Akpoji, the chairman of the board of directors, also a Nigerian.

Comrade Samuel also acknowledged the transformative effort which led to a broad consensus among Shareholders on key amendments in the Company’s revised Statutes.

Shelter Afrique Development Bank aims to enhance the financing capacity for affordable housing projects across Africa, focusing on addressing Africa’s housing crisis through financial institutions, project finance, and public-private partnerships.