NIA: Weak Mortgage Laws, Partly Responsible for 17m Housing Deficit
Dele Ogbodo
The Nigerian Institute of Architects (NIA), yesterday, attributed the mass housing deficit across the country to weak mortgage laws, which does not encourage long term credit facility for prospective housing developers, as it is done in developed countries.
Addressing the media on its 2015 Archibuilt edition, with the theme: Solution for Everyday Living, in Abuja, the Chairman of Archibuilt Development Service Limited (ADSL), Mrs. Mobolaji Adeniyi, said government’s statutory limitation coupled with government’s dwindling resources pose serious impediment to mass housing development.
She however admitted that it is possible to bridge the 17 million housing deficit, adding: “I believe that it is possible to bridge the gap, but it will depend on the policies put in place by government, but as far as the professionals are concerned, we are ready. But it will depend largely on government’s policies and the determination to really carry through the housing policy, but it is possible as we have seen it happen all over the world.”
Since its establishment in 1989, she said ASDL which is being promoted by NIA has been a trail blazer in developing new ideas in the building and construction sector, adding that the annual event showcases over 100 exhibitors with 2500 in attendance last year.
Adeniyi explained that the annual exhibition is an avenue for Archibuilt to gather building investors, construction companies, building material marketers, developers and the public to interact and showcase the latest development in the sector.
She said: “This exhibition is the largest international forum for Nigerian policy makers to explore viable opportunities with foreign counterpart on better ways of improving the quality and standard of buildings in Nigeria.”
The exhibition, she added, will enhance the growth of country’s Gross Domestic Product (GDP), through the promotion of local content initiative like drawing attention on the availability of local raw materials in the country. The forum she added puts into play, the idea of globalisation and its attendant opportunities for local building practice.