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Use Recovered Loot for Housing Development – Surveyors Charge FG

The Nigeria Institution of Estate Surveyors and Valuers (NIESV) has advised the Federal Government to invest over 50 per cent of recovered loot to tackle housing deficit.

Its First Vice President, Mr. Emma Wike, gave the advice because most of the recovered funds from political office holders and politicians were more of proceeds from housing-related crimes.

Speaking on the side of an event commemorating World Habitat Day in Lagos, he also urged the government to make  single digit interest loan available for mortgages to curb corruption, noting that most of the corrupt related cases had one thing or the other with housing.

He said: “The Federal Government should give the housing sector the deserved attention and grant intervention fund as was done in aviation, agriculture, banking and recently, film industry.

“At least, 50 per cent of all the recovered funds by the Economic and Financial Crimes Commission (EFCC) should be channeled to the provision of affordable housing in all states of the federation.

“There is a need for a review of the National Housing Fund Act to increase the statutory contribution and level of participation”.

Wike insisted that ownership of a house is a right and encouraged more Public Private Partnership (PPP) between government and operators in the sector.

While calling on government to be more committed to housing provision as a social responsibility, he insisted that the funds concerned remain the people’s money and should be used for their benefit.

He called on both the Federal and state governments to be more committed to affordable housing delivery as a core social responsibility to all Nigerians through utilising housing as a catalyst for economic development and arresting urban decay through effective housing delivery strategies.

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He further called on government to engage professionals in the housing delivery value chain, reduce cost through modern techniques and construction materials, build a robust mortgage system in Nigeria with single digit interest rate regime.

According to him, this will tame crime through city regeneration and further check insurgency.

Source: Excluding Headline (Nation)

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