FG unfolds 10- year national housing blueprint

THE Federal Government at the weekend, launched a 10- year National Housing Strategy, which would assist the incoming administration to construct quality houses for Nigerians.

Minister of Works and Housing, Babatunde Fashola, who presented the document in Abuja, stated that it was a collaborative effort between the Office of the Vice President, the ministry, Price water house coopers ( PWC) and other stakeholders to bridge the prevailing housing deficit in the country.

He explained that the private sector has been constructing houses over the years and there should be no basis to exaggerate that Nigeria's stock stood at 17 million, whereas it is on record that there are 96 million buildings, made up of offices and residential accommodations.

The minister said the figure trending all over the years may have been obtained from the 2006 National Census, which was described as a flaw and perhaps, emanated from the ministry's data in 2012.

Speaking at the event, the ministry's Permanent Secretary, Folorunso Esan, recalled that the realisation of developing the 10- year National Strategy Blueprint began two years ago, when FMDQ Holdings Plc proposed the policy document to the industry.

He said they have painstakingly outlined a holistic approach to tackle the multifaceted challenges in the sector, as well as created a vibrant market that can attract domestic and international capital capable of bridging the deficit.

Earlier, Dr. Andrew Nevin of PWC, observed that the past housing policy failed in the terms of providing affordable houses for Nigerians, saying, "We have studied the trend and concluded that the people need shelter and the company is looking at the country's strength on it.”

Contributing, the Chief Executive Officer, FMDQ Group, Mr. Bola Onadele Koko, explained that the challenges faced in the sector are many, ranging from land acquisition and high construction costs to inadequate home financing options.

He, therefore, said the document identifies nine strategic objectives to anchor the implementation plan for the nation's housing ecosystem within the next 10 years, which include to harmonise all existing initiatives/ programmes, improve land management and others.