Featured, Latest Housing News, Trending News

Government should provide affordable homes through rental housing scheme

FESTUS ADEBAYO is a lawyer and an advocate for strategic partnership in bridging existing deficit in quality and affordable housing in Nigeria. He spoke to DAVID OLANIYI on the up-coming 12th Abuja Housing Show and other issues in the sector.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

With the increasing roles the private sector are playing in housing provisions, do you consider government as doing enough in terms of support and enabling business environment. What would be your suggestions for government towards improving on this?

Government needs to do much more. By this, I mean create the enabling environment for a level playing field for private sector investors. Government must make huge in infrastructure. This also informed our theme for this year. ​More than half of all of Nigeria’s housing is estimated to be substandard – either built out of compliance with building codes, or illegally on someone else’s land, or both.  This must be formalised somehow.  The path is complex, and the risk of granting undeserved amnesty is great … but cities must formalize, and the longer it is delayed, the more damage the delay does to urbanisation and national growth.

Considering the humongous challenges Nigeria has in the housing sector, what are the immediate solutions that stakeholders can adopt?

Government must key into the Nigerian Housing Finance Programme; Government must create a rental housing association model for providing affordable homes ; diversify FMBN from supply oriented to demand oriented; create a national urban regeneration; allow state governments to obtain nationally owned land.​

A major area of concern for the industry is the provision of affordable, timely and quality housing, adopting mechanism for building technology and training of artisans in the built environment. How do you think these issues can be effectively tackled?

The country must look inwards and promote local industries; encourage our universities and polytechnics to do research through focused and sustained funding; support agencies responsible for research and development; ​be less dependent on importation of building materials.

Countries are adopting the green house revolution in their housing sub-sector, do you think that the time has come for Nigeria to follow suite. How would the involvement of experts engender this innovation?

Before you can go green, you must first have the standard brick and mortar. This can be a medium term plan. To achieve this, however, government must invest heavily in infrastructure – stable electricity, functional sewage/sewer system, available water nationwide, less dependence on energy from oil / gas. Then there must be public awareness and advocacy programs to sensitize ​citizens. New homes being built henceforth should embrace solar energy technology.

When you look at the real estate sector, one will see that the industry is encumbered with the challenge of absence of reliable data, how best can this be solved?

The Central Bank of Nigeria, Nigeria Mortgage Refinancing Company; Federal Mortgage bank of Nigeria and Nigeria Housing Finance Programme are presently working on this project. In addition, the Federal Goverment should encourage organisations and other private sector players who have done extensive studies in this regard.

The 12th Abuja Housing show holds in  few months’ time , what prompted the theme:  Driving Growth & Sustainability in Nigeria Housing and Mortgage Markets –  Improving Structures & Policies for Impact.  What new dimensions do you intend to introduce?

​The theme for this year’s Show is focused and deliberate. Over the years, Abuja Housing Show has transitioned from local, to regional and now international. ​For Nigeria to be competitive with developing nations in Africa, Asia, Europe and Latin America, it needs to improve its housing – total supply, housing quality, and housing affordability and Mortgage system – which grossly lags behind other sectors of the Nigerian economy relative to these countries to which it aspires.

Developers are encountering some challenges. Has the Abuja International housing show helped them to solve these challenges?

Abuja International Housing Show is arguably the country’s top bridge  builder in terms of bringing together an array of diverse interest groups from same industry, under one roof. We have been able to achieve this by encouraging and promoting strategic partnerships and collaborative partnerships across all board. Recently, NMRC and OPIC entered into an alliance to and signed a MOU to build affordable housing in Sagamu. The idea was conceived when senior executives of both organisations met during the 10th Abuja Housing Show. We can also report from the turnout of estate developers who have come to register that on yearly basis transactions worth billions of naira are being made on our platform from buyers to developers, buyers to home interiors manufacturers, Mortgage seekers to mortgage banks.

About 350 exhibitors from UAE, China, India, Turkey, Philippines among others have confirmed participation in this year show or call it International Housing Festival in July.

The Vice president of the Federal Republic of Nigeria, Prof. Yemi Osibanjo will be special Guest of honour. We will be having governors, ministers, commissioners from all the 36 states at this year’s event. Our partners include Federal Mortgage bank of Nigeria, Nigeria Mortgage Refinance Company, African Union for Housing Finance, Nigeria Housing Finance Programme, Mortgage Banking Association of Nigeria, Real Estate Developers Association of Nigeria, Nigeria Institute of Building, Association of housing corporation of Nigeria, Ogun state Government, CBN FSS 2020, AFP Julius Berger, Brain and Hammers ltd, Dangote cement , Hall 7 Real Estate, Urban shelter ltd Royal Ceramics ltd, Solignum, Abuja Metropolitan Management Council  and all other major professional bodies in the Nigeria Housing and Construction Industry.

This year Abuja International Housing show will be live on African Independent Television.

Follow Us on Social Media
Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Facebook Auto Publish Powered By : XYZScripts.com
Translate »

You have successfully subscribed to our newsletter

There was an error while trying to send your request. Please try again.

Housing News will use the information you provide on this form to be in touch with you and to provide updates and marketing.