Stakeholders in the housing sector have called for greater investments from the private sector in proffering lasting solutions to the increasing housing challenge in the country.
Mr Festus Adebayo, convener of the Abuja International Housing Show, made this known in a communiqué made available to News Agency of Nigeria (NAN) on Monday in Abuja.
The show with the theme ‘Driving Sustainable Housing Finance Models in the Midst of Global Uncertainties’ had in attendance stakeholders in the real estate sector from over 15 countries.
Adebayo said stakeholders agreed that a combination of factors including lands regime, cost of funding, insufficient data, policy summersaults and lack of political will and corruption were parts of the sector challenges.
Adebayo added that trust deficit, unprofessional dealings, and limited stakeholders’ cooperation among others were great barriers to the provision of mass affordable housing in Nigeria and Africa.
According to him, representatives from states like Edo, Bauchi and Enugu, called for more private sector investments like the one between Mixta Africa and Edo state and that of Family Homes Funds and several states.
He said that they promised to provide an enabling environment and much needed cooperation in the delivery of mass affordable houses.
He said other resolutions from the stakeholders that would bridge the housing gaps in the country included efforts to drive affordable housing models with the collaboration of the private sector.
“Head of service, Oyo Ita, reiterated this in her speech. According to her, the Federal Government has placed premium on infrastructure development to aid delivery of affordable housing development in Nigeria.
“Stakeholders harped on the need for wide sector collaboration to bridge ideas and fast track ongoing efforts. Stakeholders called on all parties to stop working in isolation.
“Stakeholders, especially those in government were encouraged to build a sustainable housing environment.
“Stakeholders emphasised the need for everyone to start thinking out of the box in order to find alternative models of financing mass housing and construction. Finance is part and parcel of housing and they are like Siamese twin.’’
Other recommendations were that beyond building residential communities, stakeholders were also charged to contribute to other areas especially university communities.
Stakeholders agreed that areas of critical interventions included the establishment of housing data base, short and long term housing plans to address annual housing needs.
Also, they called for an enabling environment to attract foreign direct investments, and strengthen housing agencies with adequate funds.
“They should constantly look for ways to contribute in the sector as no one is too small or insignificant to make a change in the housing sector. Anyone can effect positive change wherever they are in the value chain.”
Stakeholders added that provision of effective infrastructure in housing, water, energy and transport are critical in achieving improved standard of living and poverty reduction.
“On his part, Senate President, Ahmed Lawan, while speaking through his representative, assured stakeholders of his plans to lead the way in critical areas that require legislative intervention like the lands use act, the NHF, housing regulation, and the legislation of more enabling policies.”
Stakeholders commended Adebayo for providing the platform and opportunity for leaders, companies and associations to showcase ideas and innovations.
They called for increased participation in the affordable housing project in Africa, and more space for further collaboration with one another.
