“There’s nowhere in the world where social housing is left for the private sector or the pricing won’t be right for those who really need housing.” The views of Mr. Rilwan Belo-Osagie- The Managing Director, FSDH Merchant Bank Limited.
Experts make case for poor Nigerians
They all concluded that the government should work hand in hand with the private sector.
All the experts and stakeholders in the real estate sector spoke in unison, on the need for a well planned and effective social housing scheme, at the recently concluded Lekki Gardens’ Investment Forum.
Other real estate finance professionals suggested that poor Nigerians be provided with cheap and affordable housing, since most of them could not afford to pay for privately built homes.
The Chief Executive Officer, Lead Capital Plc, Prince Bimbo Olashore said 'About 50 per cent of Nigerians need social housing because they cannot afford the luxury developments that are currently being built.'
On the issue of land registration, he had this to say: 'It takes 82 days to register land and about 20.9 per cent of the value of the property is also required; these are challenges but they are also not insurmountable.'
They all concluded that the government should work hand in hand with the private sector to come up with an effective plan on how to reduce the Nigeria’s housing deficit.
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