The Abuja Housing Show, an annual gathering of housing sector professionals and stakeholders, has expressed concerns over the threat posed to the new Federal Integrated Staff Housing (FISH) scheme by finance and title documents on land for developers interested in the scheme.
The show is worried with the issue of housing in Nigeria, noting that majority of leaders in the country are not keying into schemes and efforts at making housing affordable for civil servants.
“We are worried about the issues of interest rate”, said Festus Adebayo, CEO, FESADEB Media Group, convener of Abuja Housing Show. He wants the government to replicate what it is doing in Agriculture in housing by asking banks to give concession or special interest rates to people seeking mortgage loans.
“The laudable Federal Integrated Staff Housing (FISH) scheme is facing challenges of getting title documents on land for developers interested in partnering with government on the scheme; beyond that, issues of financing is also a threat to the scheme; these two threats are not only affecting the FISH scheme, but also housing delivery generally”, he lamented.
Adebayo cannot relate to the idea of a civil servant working for 25 to 30 years, yet he does not own a home. He promised to contribute to addressing these problems through this year’s edition of the Abuja Housing Show.
“We are set to address and proffer practical solution to these problems with the support of all real estate developers, mortgage banks and all housing related agencies in Nigeria and Africa generally”, he assured.
Expected at the show which is in its 11th edition are experts from World Bank, Central Bank of Nigeria (CBN), Shelter Afrique, Federal Ministry of Finance and Mortgage Banking Association of Nigeria (MBAN). Others are Real Estate Developers Association of Nigeria (REDAN), Federal Mortgage Bank of Nigeria (FMBN) among others.
He disclosed that over 5,000 stakeholders from various parts of the world have confirmed participation through its online platform, adding that 20 state commissioners for land and housing from various states of the federation and five state governors have confirmed interest in this year’s edition which hopes to proffer practical solution to issues of housing finance.
The high point of the show, already scheduled for July 17 to 19, will be the Abuja Housing Show Award where eminent Nigerians who have contributed significantly to the development of the housing sector will be recognized and honoured.
About 400 exhibitors with business interests in real estate, mortgage finance, solar energy, construction technology and home interiors have been allocated exhibition stands.
Fesadeb Communication Ltd is a leading media organisation in the housing and construction sectors in Nigeria, headquartered in the Federal Capital of Nigeria, Abuja. We are the owners of:
- Abuja Housing Show - the Largest Home Expo in Africa,
- The award winning Housing Development Programme on AIT Network,
- Housing Time on Ray Power 100.5fm,
- Largest Housing News online portal in Nigeria.