The federal government has revealed it’s intention to adopt Form Work technology for quicker methods of building in a bid to reduce the over 17 million housing deficit in the country.
This he said was necessary given that the the current methods of building is slow saying that there is a need to embrace the new technology to produce housing in large numbers.
The Minister of Power, Works and Housing, Babatunde Raji Fashola stated this in Abuja today while declaring open a two-day Affordable Housing Summit organised in collaboration with German Development Cooperation (GIZ) with the theme, “Developing a Blueprint for Affordable Housing Delivery in Nigeria”.
According to him, “The form work allows us to build blocks of flats of about 4 floors in 8 weeks and bungalows in about 2 to 4 weeks but we need to create a design.
He revealed that one set of form work can be adopted for three different designs such as bungalow, blocks of flat among others saying that foam work could only be feasible after standardisation of designs.
The Minister further revealed it’s plans to recapitalise the Federal Mortgage Bank of Nigeria and review the National Housing Fund.
He commended the current review of the Pension law that would allow off-takers to use part of their pension in securing mortgage.
“Our appraisal of previous housing initiatives during Shehu Shagari administration showed that they were limited in national acceptability because the single design concept did not take our cultural diversity into consideration”, he concluded.
In his address, the Head of SEDIN Programme for GIZ, Mr Torsten Schlink said though affordable housing is a global challenge that its an opportunity for employment creation.
He regretted that one billion people lacked access to shelter which is recognised as the second basic needs of man even as he expressed optimism that stakeholders would find a blueprint for affordable housing in Nigeria.
In her presentation, the Head of Service, Mrs Winifred Ekanem Oyo- Ita said there is a need for collaboration among stakeholders to support federal governments intervention in the housing sector so as to reduce high cost of accommodation across the country.
Also speaking, the Chief Executive Officer of Trademore International Holdings Limited, Mr Emmanuel Mbaka expressed regret that the sector has experienced zero intervention and have been neglected over the years.