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Real Estate

Citizens looking for affordable housing

Stakeholders in the built industry have advocated the development of measures that make affordable housing for low and middle-income earners a reality in the country.

The Executive Director of the Housing Development Advocacy Network, Festus Adebayo, said housing was critical for economic growth and development because of its impact on major macroeconomic indicators such as employment, savings, investment, and labour productivity.

He said, “While the Federal Government under former President Goodluck Jonathan made an appreciable effort in its bid to provide affordable housing, President Muhammadu Buhari, on the other hand, has since 2015 done less than required to change the narrative in this regard.”

While lamenting the failure of the government to tackle the challenge of accessing affordable housing in Nigeria, the HDAN boss asserted that housing was not part of the first five top priority areas of the government.

He described the situation as appalling as it remained the most compelling index in measuring the growth of the economy in developed countries.

The government must really take effective action on the issue because housing should not be a mere political stunt and the incoming administration has to be committed to improving the welfare of citizens by implementing resilient and decent housing initiatives.”

Citing the situation of civil servants not being able to afford a home of N6m, even after being in service for over 20 years, Adebayo recommended that the practice all over the world was that houses were purchased on mortgage and not on a cash-and-carry basis.

He, however, urged the incoming government to be consistent in creating an enabling environment to attract investment in housing and make the private sector thrive.

Meanwhile, an estate surveyor, Olorunyomi Alatise, noted that the government had made housing policies, but they are not being implemented.

He said, “As a matter of fact, the Land Use Act should be repealed because it has failed to achieve any of its objectives.”


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