The Minister of State, Power, Works and Housing, Hon. Mustapha Baba Shehuri says that the Federal Government is intervening in the housing sector by establishing housing programs in the 36 states of the Federation.
Mustapha Baba Shehuri disclosed this on Tuesday at the commemoration of the 2017 ‘’ World Habitat Day and World Cities Day’’ by the Ministry with the theme ‘’Housing Policies: Affordable Homes’’ and Innovative Governance, Open Cities’’ respectively.
He noted that the Federal Government was doing its best to create an enabling environment for the private sector to thrive.
He highlighted that the commemoration was focused on affordable housing and transforming the nation into a smart city. He added that priority should be giving to making housing affordable as this will enable direction in the desired transformation of the nation to a smart city.
Reiterating the Ministers statement, Nigerian Politician and Former National Chairman of the People’s Democratic Party, Senator Barnabas Gemade commended the current administration efforts in the housing sector.
Gemade stated that the administration was the first to recommence National Housing Program at its current scale. Referring to the current policy, he admonished the Federal Government to give more attention to the issue of housing.
Analyzing the interest rates, he advised the need to revisit dormant funds, citing Pension funds as an example. He explained that directing the Pension Funds into Real Estate investment will certainly bring down the real estate financial cost enabling affordable housing.
He added that there was a need for a deliberate attempt to actually develop funding for low income housing to reduce interest rates drastically.
Gemade disclosed that cities in the country are currently being planned in a tidier manner. Comparing smart cities and slums, he mentioned the presence of effective security in planned cities. He added that slums and Rural areas suffered unimpeded operations by insurgents due to lack of planning and low security.
He further explained that smart cities today are providing opportunities for better surveillance with electronic surveillance.
He noted that E-development has provided effective security with the availability of close circuits and communication gadgets.
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