In a welcome address delivered by President Buhari at the opening of the two-day National Economic Council retreat holding in Abuja, the president put Nigeria’s housing deficit at about 16 million units.
He said: “In our successful campaign to win the general election last year our party, the APC, promised to build a million housing units a year. This will turn out to be a very tall order unless “The federal government builds 250,000 units and the 22 APC states together manage another 250,000 units; then we invite foreign investors together with local domiciled big construction companies to enter into commercial housing building to pick up the rest.”
The President also noted that ” severe shortage of housing, high rents, unaffordable prices for the prospective buyers,especially middle and low-income earners” in addition to ‘red Tape, corruption and plain public service inefficiency lead to long delays in obtaining ownership of title documents” Others were the huddles faced in actualizing meaningful housing scheme for all.
Buhari called for a review of the relevant laws to make the process of acquiring statutory rights of occupancy shorter, less cumbersome and less costly.
He further suggested: “Court procedures for mortgages cases should make enforcement more efficient. The Ministries of (Power) Works and Housing should upgrade its computerisation of title registration system for greater efficiency.”