Oikus CEO on Scalable Housing Solutions for Nigeria Demand

punchng.com · Feb 23, 2026 · Collected from GDELT

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Israel Ihaza, Founder and Chief Executive Officer of Oikus, a Nigerian property technology firm, discusses the sector’s challenges and the path forward in this interview with ANOZIE EGOLE Nigeria’s real estate market is rapidly evolving. What long-term trends do you expect to shape the next 10 to 15 years, and how is your company positioning for them? Over the next decade, three forces will define Nigeria’s real estate sector: urbanisation, digitisation, and institutionalisation. Nigeria’s cities are expanding rapidly, and millions of young people are moving into urban centres in search of opportunity. That population shift alone will reshape land use, housing density, and infrastructure demand. At the same time, digitisation is transforming how property is discovered, verified, financed, and managed. Finally, the sector will gradually move from informal systems towards more structured, institutional frameworks. Our company is positioning itself at the intersection of these shifts. We are investing in data infrastructure, verification systems, and technology that increase transparency. We are also designing developments and property solutions that anticipate where infrastructure and demographic growth are heading, not where they have already matured. The next 15 years will reward those who build ahead of expansion curves. What scalable and commercially viable solutions do you think can bridge Nigeria’s housing deficit gap? Bridging the housing deficit requires moving beyond isolated luxury developments towards scalable production systems. First, land assembly must become more structured to reduce fragmentation and legal disputes. Second, construction processes must become more industrialised; modular methods, standardised designs, and local material innovation can significantly lower the cost per unit. Third, financing must match income realities through rent-to-own models, cooperative housing schemes, and incremental development plans. The solution is not charity-driven housing; it is commercially viable mass production with intelligent financing structures. When cost efficiency, structured financing, and policy support align, scale becomes realistic. How do you balance risk management with profitability in the face of inflation, currency volatility, and escalating construction costs? Volatility is part of operating in emerging markets. The key is strategic discipline. We hedge risk by diversifying revenue streams, locking in material contracts where possible, and structuring phased development rather than overexposing capital in a single cycle. We also prioritise locations with strong demand fundamentals, which provide pricing resilience even during economic turbulence. Profitability in this environment requires long-term thinking. You cannot build purely on short-term margins; you must build on sustained value creation. With mortgage penetration remaining low, what structural changes are needed to unlock financing at scale? Mortgage expansion requires systemic reform. Interest rates must become more competitive, and long-term funding pools must deepen. Pension funds and institutional investors can play a larger role in creating stable mortgage-backed instruments. Digitisation of credit assessment, improved land registry systems, and stronger foreclosure frameworks would also increase lender confidence. Without predictable enforcement mechanisms, large-scale mortgage growth remains constrained. Unlocking financing at scale demands coordinated reform across banking, regulation, and property documentation systems. What reforms would make doing business easier amid cumbersome land acquisition and title documentation? Land registry digitisation would be transformational. Streamlining title processing timelines and reducing overlapping approvals would significantly lower transaction friction. Transparent fee structures and standardised documentation procedures across states would also reduce uncertainty. Ultimately, clarity and predictability encourage investment. Investors are less deterred by cost than by ambiguity. To what extend do infrastructure deficits influence your development strategy? Infrastructure is one of the strongest predictors of long-term property value. Developers should analyse road expansion plans, drainage capacity, power access, and planned commercial nodes before committing to any site. In some cases, developers must proactively integrate independent infrastructure solutions such as renewable energy systems or improved drainage engineering. Site selection today must factor in resilience and sustainability, not just proximity. How can greater trust and transparency help draw more diaspora capital? Diaspora investors demand clarity. They want verified documentation, transparent pricing, secure payment channels, and reliable project tracking. Technology is essential here. Digital verification systems, geo-tagged property records, remote inspection capabilities, and structured reporting can significantly increase trust. When transparency becomes standard rather than optional, diaspora capital flows more confidently. In what ways is technology transforming property development, and where does the greatest untapped opportunity lie? Related News Bank secures N2.2bn MOFI boost for housing Nigeria sitting on $1.5tn stranded capital – PeacePro Nigeria offers investors opportunity, not spectatorship – Wardiere boss Technology is transforming marketing through virtual tours, digital listings, and data-driven targeting. It is improving management through automated payment systems and tenant dashboards. It is also reshaping development through project management software and predictive analytics. The biggest untapped opportunity lies in structured property data. When properties become digitally identifiable assets with traceable histories, financing, insurance, and secondary markets become more efficient. Data infrastructure is the future frontier. How is your company integrating environmental resilience? While Oikus is primarily focused on building the digital property infrastructure that powers transparency and visibility in the market, we recognise that sustainability and resilience must be embedded into the broader ecosystem. As part of our work, we actively educate and collaborate with developers, encouraging them to integrate environmental resilience into their planning from the earliest design stages. Climate risk is no longer theoretical, especially in coastal cities like Lagos. Drainage engineering, elevation planning, soil testing, and material durability must be considered from the outset, not as afterthoughts. Through the data and insights, we generate, we help highlight risk-prone zones and encourage smarter siting decisions. We also advocate for proper environmental impact assessments and long-term resilience planning in the projects we engage with. Our role may be digital, but our influence extends into how responsibly physical developments are conceived. The future of property must be both technologically structured and environmentally intelligent. What qualities do you prioritise in executive leadership? Integrity is non-negotiable. In an industry where trust is currency, leadership must be anchored in transparency, accountability, and ethical decision-making. Beyond integrity, I prioritise strategic thinking, the ability to see beyond immediate transactions and understand long-term structural impact. Real estate is cyclical, capital-intensive, and deeply influenced by policy and macroeconomic shifts, so leaders must think in decades, not quarters. Resilience under pressure is equally important. The sector comes with regulatory complexity, market volatility, and operational unpredictability. Strong leaders remain calm, analytical, and decisive even in uncertain environments. I also value alignment with long-term vision. We build leaders who understand that real estate is not just transactional; it is generational. The projects we approve, the systems we design, and the standards we enforce today will shape communities, capital flows, and opportunities for decades. Leadership, in our view, is stewardship of both present performance and future legacy. How do you ensure ethical governance and protect your brand reputation? Trust is our most valuable asset. As a new startup in the PropTech space, we understand that credibility is everything. For a long time, conversations around technology in real estate have focused on how “fancy” or innovative solutions can be. At Oikus, we are not interested in superficial innovation; we are focused on solving the core structural problems of visibility, verification, and trust. We enforce strict documentation standards, transparent communication policies, and strong compliance protocols. Every property listed within our ecosystem must meet clear verification thresholds. Internally, we promote accountability, structured reporting, and oversight mechanisms that ensure integrity remains central to our growth. Reputation in real estate compounds is just like capital; it is slowly built and easily lost. As a technology company operating in a trust-sensitive sector, we guard ours carefully. Technology is not decorative in real estate; it is essential infrastructure. What role should government–private sector collaboration play? Mass housing and infrastructure at the scale Nigeria urgently needs simply cannot be delivered by any single stakeholder alone. The housing deficit nationwide is staggering, estimated at between 15 and 28 million units as of 2025, with over 70 per cent of Nigeria’s existing housing stock falling below basic standards of safety, sanitation, and infrastructure. To meet this challenge, estimates suggest Nigeria must deliver about 500,000 housing units per year over the next decade, requiring more than N5 tn (approximately $6.25 bn) annually in investment. Government budgets alone cannot absorb this level of financing. This is where struc