The 11th Abuja Housing Show ended in Abuja with a call by stakeholders on the Federal Government to find sustainable solutions to housing challenges.
In a communiqué released at the end of the 11th Abuja Housing Expo, stakeholders emphasised the need for government to adequately fund social housing projects in concrete terms, at least to tune of one hundred billion naira annually and encourage private sector participation to stimulate economic growth in the entire country.
They also made a strong case for the recapitalization of the Federal Mortgage Bank of Nigeria to provide decent and affordable houses and also the need to extend the frontiers of affordability by including cooperatives, the self-employed and the unemployed that provide wide opportunities to the economy and families.
The communiqué further drew attention to the increasing phenomenon of vacant houses in Abuja and the need to make it accessible and affordable to those in need. It called for the establishment of adequate training and skill acquisition centres to boost jobs and manpower in the building sector, while also emphasising the construction of houses that reflect the peoples culture and not to destroy traditional architecture that also relates efficiently with other areas like roads, recreational and open spaces.
It stated that government can take the lead in nationwide innovative housing development by an upward review of workers salary to enhance housing mortgage. Stakeholders stressed the need to build at least one million housing units yearly through appropriate government policies, deepening of the mortgage market, Proper planning and monitoring of programmes at all stages of housing and urban development as well as enactment of national affordable housing law by the National Assembly.
While advocating for a single digit interest rate on housing loan, stakeholders called for full involvement of public sector as exemplified by Lagos and Bauchi states in funding more infrastructure resulting in housing delivery and job creation.
They further advocated for the investment of pension funds in housing and for government to institute policies that will make land easily accessible, remove the cumbersome process of securing land title and provide durable infrastructure to bring the needed vibrancy to the sector and allow private sector to achieve high results.
The theme for this year’s Abuja housing Show was: solving Nigeria’s Housing Challenge through Innovative Finance and Infrastructure Solutions