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How cost of building materials affect delivery of affordable housing

The responsibility to set a convenient business space is that of government. Government may not have business in business though this should not create alibi for government to abdicate its responsibilities in regulating the business environment. The enabling environment allows the small and big players to co-exist. The coexistence leads to very healthy competition which in turn leads to a better consumer marketer. Unfortunately, this government has practically politicized every aspect of our lives. The will to take decisions that benefit the majority of Nigerians is totally absent. To buttress this postulation, I have decided to share this empherical historical evidence with my teaming readers with credit to the Society for Business and Management Dynamics” 1999

An ambitious housing policy was launched by the then military government in 1991 with a slogan

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“Housing for All by the Year 2000A.D’’. The goal was for all Nigerians to have access to decent housing at affordable cost before the end of year 2000 A.D. The housing needs in the country as at that the lunch of the policy stand at about 8 million units including projection in meeting the policy target in both rural and urban centers in response to united nations advocacy which calls for housing for all by the year 2000A.D (Ogunrayewa and Madaki, 1999).This is through adequate involvement of the private sector in infrastructural provision and to serve as the main vehicle for organization and delivery of housing

Business Management Dynamics Vol.3, No.2 Aug 201, pp.60 -68 Society for Business and Management Dynamics products and services (Yakubu, 2004; Aribigbola, 2008).The policy estimated that 700,000 housing units are to be built each year if housing deficit is to be cancelled of which about 60percent of the houses are to be built in urban centers. The policy restructured the financial routing of accessing housing loans by way of creating a two tier financial structure, which is the federal mortgage bank of Nigeria as the apex and supervisory institution and primary mortgage institutions as primary lenders. However, in 2007 the

FMBN conceded supervisory functions to CBN (Yakubu, 2004; Aribigbola, 2008).The FMBN nevertheless was empowered through decree no. 82 of 1993 to collects, manage and administer contributions to the National Housing Fund (NHF) from registered individuals and companies. The National Housing Fund is the product of the 1992 Housing Policy of the Federal Government of Nigeria.

According to The Nigerian Economist (1992) Decree No. 3 of 1992 which was packaged against the background of the National Housing, Policy (NHP), is a legal instrument for mandating individuals and government to pool resources into the National Housing Fund (NHF). The NHF can be seen as the ultimate culmination of the previous efforts of governments in Nigeria at housing provisioning. The policy establishing the NHF emanated from recognition of the severe housing problems in most of Nigeria’s urban areas (Anugwom and Anugwom, 1999). Therefore, the policy took cognizance of both the qualitative (existence of substandard housing,) and quantitative (severe housing shortages) nature of the problem. The 1992 Decree more or less pursued the original objectives outlined in the National Housing Policy: (1980); the main objectives of which were:

a. To ensure that the provision of housing units are based on realistic standards which the house owners can afford;

b. To give priority to housing programmes designed to benefit the low income group; and

c. To encourage every household to own its own house through the provision of more credit or fund (this specific objective more or less crystallised into the NHF).Apart from these previous objectives, the 1992 policy aimed at keeping in line with the enabling objective of the United Nations Commission on Human Settlements.

Thus, it was geared towards mobilising resources for effective house ownership by workers while at the same time de-emphasising the intrusiveness of government in the housing sector. The NHF was initially meant to facilitate the now discarded vision of housing for all by the year 2000A.D which was long being over taken by events.

Oyo-Ita, Ghanaian Minister provides solution to fix housing deficit

Says 55, 000 civil servants subscribed for FISH housing scheme

Head of Civil Service of the Federation, Mrs. Winifred Oyo-Ita, and Ghanaian Deputy Minister of Works and Housing, Hon. Freda Prempeh have called for increased Public Private Partnerships (PPP) to fix housing deficit in the country.

The dignitaries including the Minister of Power, Works and Housing, Babatunde Fashola made the call during 12th edition of the Abuja International Housing Show, held at the weekend in Abuja.

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It was themed: Driving Growth and Sustainability in Nigeria’s Housing and Mortgage Markets-Improving Structures and Policies for impact.

The HOS, represented by the Permanent Secretary, Welfare Office, Mrs. Didi Walson-Jack disclosed that about 55, 000 civil servants have subscribed for the Federal Integrated Staff Housing (FISH) programme.

Oyo-Ita restated Federal Government commitment to addressing the housing deficit stressing that there are other ongoing programmes to ensure affordable housing delivery.

“This is an indication of the desire of key stakeholders in this sector not only to fill the gaps in the housing sector in terms of quantum but also to ensure qualitative delivery. The FISH programme is being delivered in partnership with private sector organisations, either as estate developers or financiers.”

Theme of the expo, she stated was timely as it highlighted challenges of affordable housing in the country and West Africa sub region.

Earlier, the Ghanaian deputy minister identified high cost of building inputs, access to land title, poor land system and infrastructure cost as challenges bedeviling the sector.
Aside, Hon. Prempeh attributed corruption and selfish interest as another setback of the built industry.

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However, she called for the adoption of modern technologies and need to partner with the private sector.

According to her, houses should be built in districts to reduce cost and achieve affordability, adding that more than 60, 000 acres of land have been earmarked for low income earners in Ghana.

“Partnering with the private sector the more will help provide affordable housing for Nigerians,” she said.

The Minister of power, works and housing, Fashola, while declaring open the conference restated federal government’s commitment to providing sustainable affordable housing to the people.

Fashola said there are ongoing policies aimed at providing access to mortgage finance at single digit interest rate.

The minister said that the current administration has initiated a new policy towards better housing delivery nationwide.

“As our demography is increasing, there is need to multiply the structure to reduce cost of housing with efficient consideration methods.

“It is our goal as a government to industrialise the building and housing delivery process in Nigeria and ensure that the building components are manufactured in the country.”

Fashola was eventually awarded by organisers of the show.

Obaseki to Edo workers: Embrace housing scheme

The Edo State Governor, Mr. Godwin Obaseki, has urged the state government workers to embrace the federal government housing scheme to enable them become homeowners after retirement.

Obaseki gave the advice on Friday in Benin during a sensitisation programme on the federal housing mortgage scheme for public sector workers in the state, organised by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) in conjunction with the Federal Mortgage Bank of Nigeria (FMBN), in Benin City.

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He noted that the implementation would cut across all the 18 local government areas of the state with special considerations for teachers as an incentive to boost their productivity.

The governor said: “Under my watch all the workers that register for this housing mortgage scheme will benefit from it. I am aware that there was the fear of fraud in the past, let me assure you that such fear has been eliminated.

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“I urged you all to take your sensitisation programme here very seriously as it will help you understand what the scheme is all about.”

Earlier, the Deputy General Manager, Federal Mortgage Bank of Nigeria (FMBN), Mr Victor Okosu, said that the sensitisation programme was designed to enlighten the workers on the need to key into the mortgage scheme as 30 states of the country have signed up for the product.

The Edo State chairman, Nigeria Labour Congress, Mr Emma Ademoku, noted that the workers are deeply involved in the sensitisation programme.

Ademoku applauded the state government for providing land for the housing scheme, and said the three senatorial districts would benefit from the scheme.

He commended the governor for paying the salaries of workers in the state even when other state governors are waiting for federal allocations.

Fashola canvasses industrializing development to make housing affordable

Fashola who was the keynote speaker at the just concluded  Abuja International Housing Show (AIHS) in Abuja, the federal capital territory, explained that industrializing the sector would not only drag down the cost of construction, material wise, but would also create jobs for those involved in the housing value chain including input manufacturers, professionals and artisans.

But stakeholders in the sector, who affirmed the minister’s proposition, argued that the problems and challenges of housing development in the country find explanation more in government’s failure to either initiate housing policies and programmes or to implement existing ones.

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“When you look at housing, you see that it is not something that government can look away from because it is very important for various reasons. You can see the contribution of real estate to GDP which is about 7 percent; you also look at its effect on job creation, quality of life of citizens”, the stakeholders noted.

It is an established fact that, of the basic needs of human beings, after food, the next thing is shelter. A man that does not have a home cannot be productive because his heart and mind are not at rest.

Housing also impacts on security because a man that does not have a house lives on the street and becomes a security risk to every other person. He is vulnerable to attack and is also ready to attack other people out of anger and envy.

These are part of the reasons the stakeholders insist that government must perform its duty to make housing affordable by providing infrastructure and coming up with a policy framework in the financial sector that will make mortgage accessible and affordable through a significant reduction in interest rate.

“The housing market behaves in a particular way; it gravitates where there is effective demand. Government should recognize that the weakest demand comes from the low end market and so should direct regulatory system towards that end with a view to making a policy to address that problem”, said Femi Adewole, managing director, Shelter Afrique, Kenya.

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Adewole Added that the government should also adopt the zoning system through which it would discover areas where housing need is highest and the type of housing that they need just as it should impose heavy tax on houses that are unoccupied to discourage further development there.

Hakeem Oguniran, outgoing managing director of UPDC, agreed , but advised that developers should look away from the traditional way of sourcing construction finance from the banks with their high interest rate.

“From my experience as a developer, finance constitutes about 15-18 percent of construction cost”, he noted, advising that developers should source funds from the capital market by raising bonds which reduces interest rate and, by extension, reduce the price of houses.

Land is another aspect of housing that government should do something about in order to make housing affordable. This, it was noted, also constitutes about 20 percent of construction cost. Government was asked not to see land as a revenue generating venture for the government so that it should not be more than 5-6 percent of construction cost.

Increased housing affordability coming on CBN’s mortgage guarantee initiative

In no distant future, increased affordability will be coming into the Nigerian housing market on the back of Central Bank of Nigeria’s (CBN’s) new mortgage initiative known as mortgage guarantee programme which seeks to bring more home seekers into the mortgage net.

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Affordability has always been a big issue in the Nigerian housing market because most of the people who need houses cannot afford them because Nigeria has one of the most expensive housing markets in the world. This is also a country where it is believed that mortgage is non-existent because what is available as mortgage is neither accessible nor affordable to over 70 percent of the population.

But a guaranteed mortgage is here. It is a mortgage given to a borrower by a lender where an identified third party will take responsibility for the loan if the borrower defaults. Expectation is that this will push up housing affordability because, with the new programme, once a borrower defaults, the third party receives a claim from the lender, pays the lender off, and assumes responsibility for the mortgage.

“A quality mortgage guarantee programme is used to provide credit loss protection to lenders in case of borrower default”, explained Tokunbo Martins, Director, Other Financial Institutions Supervision Department (OFISD) at CBN, who spoke at the on-going Abuja International Housing Show in Abuja.

“Mortgage guarantee products incentivize lenders to accept loans with lower down-payments, thus increasing affordability”, she added. The implication of this is that borrowers who, ordinarily, would not have qualified for mortgage loan by reason of their low income, can now obtain loans which enhances their affordability.

In most cases, the national government is the driver of any successful mortgage guarantee programme which they administer through either a government agency, a private entity or a hybrid encompassing both types of entities.

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The programme comes with a lot of benefits and, according to Martins, its importance in Nigeria cannot be over-emphasized given that this is a country where typical down-payment is over 20 percent with extremely high additional costs for regularization, titling and other home buyer responsibilities.

“Mortgage guarantee in our market will also be used as a valuable tool to regularize and standardize the market in every area from documentation to underwriting to collateralization and mortgage dispute resolution. These are major issues we need to resolve”, she advised.

Essentially, mortgage guarantee is a product of great value to any housing market because it is a tool of opportunity for both the supply and the demand sides of the mortgage market and Martins notes that it provides potential opportunity of lower down-payment for borrowers, while opening up a larger market for lenders who make the decision to finance the target population for the programme.

Martins highlighted the main benefits of the programme as increased access to housing finance, access to higher amount mortgages, better loan terms (rate, term etc), market standardization and increased consumer literacy, more stable property values, and more stable and improved national housing sector leading to better economy.

She stressed that a major benefit of the programme is its capacity to encourage the influx of investor funds – both local and international, explaining that a well-executed mortgage guarantee programme provides comfort to intending investors by signaling the presence of standards in the industry that could reduce the risk of losing their invested funds.

The good news on this programme is the role being played by the Nigeria Housing Finance Programme (NHFP). This is a programme daily implemented by a Project Administration Team (PAT), domiciled in thde OFISD at CBN.

NHFP, which is the result of a PPP between the Federal Government, CBN and World Bank, is working in collaboration with its stakeholder partners currently in the feasibility study stage of establishing a pilot company, to be known as The Nigeria Mortgage Guarantee Company (NMGC). “This effort is meant to offer Mortgage Guarantee in Nigeria”, Martins revealed.

Experts advocate tax reduction on building materials to check housing deficit

Task govt on funding, infrastructure development

To address the housing deficit in Nigeria, there is need for government to provide proper infrastructure, finance, creative and workable policies, experts have said.
The experts, who gathered at the breakfast meeting organized by Nigerian-American Chamber of Commerce (NACC) in Lagos, want government to be more involved and deliberate in building mass houses for its citizenry.

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Managing Director, TAF Africa Homes, Mustapha Njie, said government should reduce or remove taxes on building materials for construction of houses providing tax incentives for companies involved in producing local materials.

He said federal government should also declare a state of emergency with a certain percentage of the yearly budget dedicated to the housing sector.

Njie who was represented by his Legal Adviser, Lucky Kawekwune, listed some of the challenges bedevilling the sector to include lack of creativity in the architectural design of affordable housing, access to land inadequate financing both in construction and off take finance.

He noted that government needs to review the Land Use Act of 1978 to make land acquisition and transfer easier thereby encouraging use of local building materials for construction.

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Acting Head, Real Estate Finance, Stanbic IBTC Plc, West Africa, Tola Akinhanmi, said finance plays a vital role in unlocking the potential and assets in the sector, stating that more needs to be to allow exchange and transfers of titles creating developers with mortgage facilitates.

Chairman, Knightstone Properties, Adeniyi Jones, said government must have a creative way of planning to address the housing deficit in the country.

He said the real estate sector is one of the contributors to the Nigeria economy.

Earlier in his remarks, National President, NACC, Oluwatoyin Akomolafe, realizing the importance of secured access to land as a fundamental challenge to housing delivery in the country, successive governments have developed and created government residential layouts in the several locations within the country.

Some of these residential layouts, he said were fully and partly developed with housing units and sold to the public while the rest were developed and created as site and services schemes and allocated to members of the public.

Akomolafe said it is regrettable that despite policies, institutions and regulations which various Nigerian Governments including the State Government have put in place since independence, the task of instituting efficient, effective, affordable and sustainable housing delivery processes continues to challenge policy makers even as the problems of the housing sector worsens.

Don urges FG, states to replicate Jakande housing scheme to bridge deficit

Prof. Gbenga Nubi, Director, Centre for Housing Studies, University of
Lagos, has urged the Federal and state Governments to replicate the
then Jakande Mass Housing Scheme to bridge housing deficit in Nigeria.

Nubi made the call on Wednesday in Abuja at the ongoing 12th Abuja
International Housing Show organised by FESADEB Communications Ltd.

The Housing News reports that Nubi was speaking at the
stakeholders’ session on the theme “Addressing Knotty Issues in
Housing Delivery’’.

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Nubi wondered why the country could not make things right in housing
delivery after the pacesetting and impactful mass housing scheme of
Alhaji Lateef Jakande, former governor of Lagos state in 1978.

“It is the responsibility of the government to provide housing for its
citizens, make infrastructure worthwhile and building materials
possible to access.

“Every responsible government can follow employee housing scheme of
Jakande, the government can replicate Jakande housing scheme to bridge
deficit and achieve affordable housing.

“Land Use Act is not the problem hindering housing delivery in the
country, rather how the government interprets it and go about it is
the problem,’’ the expert noted.

He noted that the Jakande housing scheme sold two bedrooms flat for
N2, 500 as against N50, 000 being obtainable in the market then.

According to him, if the government can emulate such feat, it will
assist the civil servants and other Nigerians to own affordable
houses.

Also speaking, Dr Chi Akporji, Executive Director, Nigeria Mortgage
Refinance Company (NMRC), endorsed the replication of the Jakande
housing scheme of in the states.

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According to her, the states can make concerted effort in replicating
the scheme because it was highly regarded and commended all over the
country.

Akporji noted that the NMRC has evolved a technology platform which
allowed the stakeholders and key players in the industry to come
together with the goal of reducing housing cost and increase housing
efficiency.

She decried cases of unoccupied houses in Abuja and other places in
the country, adding that studies have revealed that the houses where
used by corrupt people to dumb stolen money.

“Houses are the easiest place to hide stolen fund, the owners do not
care about how long they stay redundant but just to hide ill gotten
wealth there.

“Government can prevent such things from happening, some states are
now forcing people to occupy such houses or lose them,’’ she said.

Rev. Chime Ugochukwu, National President of Real Estate Development
Association of Nigeria (REDAN) noted that one of the knotty issues in
housing delivering was land administration issues.

Chime stated that land has a lot of characters including land
registration, titling issues and restiveness in some communities.

He expressed regret that in some places housing developer could not
have access to the land due to some spiritual issues and other issues.

He hoped that the show would come up with recommendations which would
enhance housing development in the country.

The show is a unique one for construction industry stakeholders
presenting new products, innovation services and technology to proffer
solution to housing problems.

The show, scheduled to hold from July 16 to July 19, has its theme as
“Driving Growth and Sustainability in Nigeria’s Housing and Mortgage
Markets-Improving Structures and Policies for Impact.”

Housing Show: NGO seeks partnership with FG to shelter indigent women

The Women in Housing Sector Initiative (WIHSI), a housing NGO, has
appealed for Federal Government’s partnership, to achieve its
objective of providing affordable housing for indigent women.

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Mrs Adenike Fasanya-Osilaja, Founder of the NGO, made the appeal
during the convention of the NGO on the sideline of the ongoing 12th
Abuja International Housing Show, organised by FESADEB Communications
Ltd.

WIHSI Promotes the visibility, advancement and well-being of women in
the housing sector and advocates increased empowerment of women
through housing stability and home ownership.

Fasanya-Osilaja, an International Housing Finance Consultant noted
that the NGO, was focused to ease the plight of indigent women, who
were victims of catastrophic circumstances.

Fasanya-Osilaja said that the NGO was interested in working with the
government at all levels, to identify and prepare women for duties and
privileges of home ownership.

According to her, women have typically been the silent unseen partners
in housing arrangements since the olden days, even though in several
cultures women could still not own land or property in their names.

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“This has created a position of great vulnerability for women, who
literally have a roof over their heads at the mercy of one man or the
other in their lives.

“The woman’s capacity to have enjoyment in her residence is also
directly affected by her relationship with the benefactor, who it is
his cultural right to evict her from the property for any reason at
any time.

The consultant stated that in Nigeria the cultural norm was for a
husband to evict a spouse in case of divorce or separation.

She noted the death of a spouse as another prevalent cause of
eviction for women in many Nigerian cultures, noting that the eviction
typically involves the children too.

“This is why the WIHSI, an NGO formed by women professionals in the
housing sector, has created a highly specialised platform to assist
our sisters with this type of need.

“The platform, aptly named `Housing Women, Housing our Future’ is
created out of the recognition that those of us with expertise in the
sector must pool talents together to support women.

She said “Operation Earn Your Own Home’’ was the pilot programme of
the NGO, to ensure that every displaced woman, who achieved home
ownership through grant passed it on through specific steps.

According to Fasanya-Osilaja, WIHSI is interested in working with the National Assembly. She said “We are aware that the National Assembly of Nigeria for instance is building about 6,000 property units in the very near future.  We would be very privileged to be assigned a number of units, precisely 500 units for a start, for the afore-mentioned pilot project. ”

She added that “Our capacity to effectively administer the proposed pilot project is not in doubt, and our integrity is indisputable.  We would, of course, be happy to have the project monitored by agreed an agreed third party”

Also speaking, Dr Chi Akporji, Nigeria Mortgage and Refinancing
Company (NMRC), advised the NGO to key into its Corporate Social
Responsibility Programme, which had empowered many artisans.

Akporji said that NMRC was planning to wrap up the programme by
involving many women to enhance the sector skill.

Why mortgage business risks need to be insured

Like many other business enterprises, mortgage is also risky venture and the need to insure the risks associated with transactions is as important as the business itself.

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Apart from the high incidence of poverty, income sources, especially paid employments, have no security guarantee.

In an environment where the mortgage industry is functional and effective, insurance is a must because it serves as a lubricant on the engine of growth. This is why mortgage and insurance must go together because while mortgage is risk-prone, insurance is a hedge against risks.

Mortgage insurance is one policy that protects a mortgage lender or title holder in the event that the borrower defaults on payments, dies, or is otherwise unable to meet the contractual obligations of the mortgage.

Investopedia identifies three aspects of mortgage insurance, including private mortgage insurance (PMI), mortgage life insurance, and mortgage title insurance. What these have in common is an obligation to make the lender or property holder whole in the event of specific cases of loss. Private mortgage insurance may be called ‘lender’s mortgage insurance’ (LMI) if the premium on a PMI policy is paid by the lender and not the borrower.

For these reasons and more, an active insurance industry is needed for the growth and development of a functional mortgage industry. The mortgage industry in Nigeria is still a fledgling and fingers are frequently pointed to an insurance industry that is not an active participant as it should be.

For some reasons, in this country too, in spite of everything the people have learnt, policy is still shaping the industry whereas, in advanced economies, it is the other way round- industry shapes policy because people in the industry are the ones implementing the policy every day.

The mortgage industry in United States, for instance, has been robust for decades and it is with continued activity. One is not however, saying Nigeria should replicate what happens in the US here, because Nigeria has its own unique characteristics which must be recognised and respected.

What the mortgage players in Nigeria should do, however, is to make the US system a base-line because this system represents the global standard. Adenike Fasanya-Osilaja, a mortgage and finance consultant, advises that “we have to start learning that system and adapt it to meet our own unique cultural system and unique needs”.

Nigeria needs to lay a very good foundation for mortgage industry growth to ensure that what happened in America in 2006 with sub-prime mortgage crisis does not repeat itself here. The Nigerian Mortgage Refinance Company (NMRC) is a big possibility that can change and shape the mortgage system in this country and could also be an umbrella for the industry.

One of the high points of NMRC, as a secondary mortgage institution, is its long term, low rate global funds and, because the mortgage industry here is not yet buoyant, NMRC, whether it is succeeding now or not, can be a significant tool in achieving these attributes of a working mortgage industry.

 

Fasanya-Osilaja believes that the mortgage industry should be shaping NMRC and not NMRC shaping the industry, advising that the Central Bank of Nigeria (CBN), through the NMRC, should be listening to the voice of the industry. “Experience has proved to me that the CBN is quite ready to listen and learn. The problem here however, is that the industry has been rather passive,” she noted.

The advisor who is also a Housing/Mortgage Finance Consultant to the CBN on the Nigeria Housing Finance Programme (NHFP) noted recently that NHFP is creating the enabling environment for strengthening the Nigerian housing sector by setting up sustainable framework for mortgage originators, which include financial institutions that provide housing finance, to access long-term refinancing. She added that the framework is setting up mortgage guarantee/insurance as well as a housing microfinance scheme for strengthening Nigeria’s housing microfinance sector.

She revealed that the NHFP intervention included a mass literacy campaign on consumer education, protection and responsibility with regards to housing finance in Nigeria. “The campaign is aimed at educating every Nigerian on the right to own a home, the cost implications, advantages of taking loans to finance a home and to ultimately serve as a catalytic programme to jumpstart the housing market in Nigeria,” she said.

 

But the mortgage industry has to be standardized so that global players, from global perspectives, could view the local industry from the perspective of NMRC and mortgage banking association of Nigeria (MBAN) and see something to hold on to in their investment decisions. Despite the current challenges, the Nigerian economy could conveniently support the growth of the mortgage industry as the country is one of the fastest growing economies in the world where talent resource is amazing.

The mortgage consultant advised that Nigeria needs to understand there is time for competition and also time for association and each is as critical as the other. “The only thing that will stop this industry from growing is over-regulation by people who are not in the industry and therefore, will not understand the effect of their policy on the actual market”, she said, emphasizing the urgency of an active insurance industry to drive the needed growth in the mortgage industry.

As a step forward, mortgage insurance could come with a typical ‘pay-as-you-go’ premium payment, or may be capitalised into a lump sum payment at the time the mortgage is originated. For homeowners who are required to have PMI because of the 80 percent loan-to-value ratio rule, they can request that the insurance policy be canceled once 20 percent of the principal balance has been paid off.

Abuja international housing show to promote made in Nigeria materials

The Convener of the forthcoming 12th edition of the Abuja International Housing Show has said that it would promote made in Nigeria building materials to boost affordable housing in the country.

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

Mr Festus Adebayo, Managing Director, FESADEB Communications Ltd. and the convener stated this in an interview with Housing News on Tuesday in Abuja.

Adebayo said that there would be a session and pavilion which would focus on made in Nigeria houses to be championed by the Nigeria Building and Research Institute (NIBRI).

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“This would help in achieving affordable housing by promoting made in Nigeria houses to change the orientation which Nigerians have on imported goods’’.

He emphasised that Nigerians should change the orientation of always patronising and clamouring for imported building materials.

For an affordable housing to be achieved, he noted that the show would be looking into partnering with public and private organisations on locally made building materials.

According to him, the show was looking forward to partner with both government and private organisations in boosting locally made materials.

He urged the Federal Government to boost patronage on locally made houses to achieve affordable houses.

“Recently the National Assemblies patronised Innoson Ltd. and bought some made in Nigeria cars, the government can as well see how we can partner to promote made in Nigeria houses together.

“The government will not only promote it rather it will lead by patronising by giving incentives to those who are interested in building houses with locally sourced materials.

“The show must also address the issue of regulation of cement price because the price is too high in the country.

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The convener noted that it was also partnering with some companies into alternative housing construction like the Earth Bricks houses.

He listed the companies to include Hydraform Ltd., Ireclay in Akure, Ipile Earth Brick in Kuje, Abuja and Shelter Clay in Minna.

Adebayo further said that it would also promote house ownership through “Not Too Young to Own a Home’’ session.

“The whole idea is to address the attitude by some of our adults who do not develop the interest of owning a home until they are 45 or 50 years.

“We want to champion an idea where the youths are being caught very young; by the age of 33 they are already receiving lectures on how to own a home even one or two bedroom.

Today a lot of adults do not even know what is mortgage and we have the National Housing Fund (NHF) which has been operating for many years which a lot of civil servants do not even know how to access it.

“We are introducing “Not Too Young to Own a Home’’ to re-orientate our youths so that the problem of housing deficit will be addressed on time,’’ he added.

By Ella Anokam

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