FG woos investors to increase housing stock

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coat of arms
Federal Government of Nigeria

ABUJA (PWH Ministry’ Report)- The Minister of State for Power, Works and Housing, Suleiman Hassan Zarma, has said that Federal Government will not relent in its efforts toward providing enabling environment for genuine investors to invest in the Housing Sector of the economy. He added that this will in effect radically increase the housing stock and bridge the Country’s housing deficit.

The Minister, who represented the Vice President at 2017 Housing Summit Conference organized by Housing Circuit Magazine in collaboration with the Senate Committee on Lands, Housing and Urban Development, noted that the theme of the Conference: Addressing Housing Stock Deficit in Nigeria requires a holistic view.

Suleiman informed the gathering that the Federal Government, through the Ministry is taking the lead on Lands and Housing reforms to make land readily accessible and provide shelter for the teeming Nigerian population.

The Minister commended the organizers of the conference and urged participants to focus more on the challenges facing the housing sector of the economy. He enjoined them to come up with strategies aimed at repositioning and reinvigorating the facilitation of affordable housing delivery in the country.

Earlier, the chairman Senate Committee on Lands, Housing and Urban Development, Sen. Barnabas Gemade remarked that the Conference is coming at time President Buhari’s led Administration has put in place an increased public mass housing programme that covers the 36 States of the federation, adding that this is the first action by any Government since the Shagari Administration of Mass Housing Scheme of 1979.

According to Gemade ‘’with an upward review from 35 billion naira budgetary provision in 2016 to 40 billion in 2017 budget, one would be safe to say that President Buhari is tackling housing challenges, but this is to some extent, as more needs to be done.’’

In his goodwill message, the chairman of the occasion and chairman Dangote Group of Company, Alhaji Aliko Dangote represented by Executive Director, Stakeholders Management Services, Engr. Mansur Ahmed stated that the housing sector is one of the most critical sectors to the nation’s economy, adding that the importance of this sector cannot be overlooked as it is one of the major indicators of underdevelopment.

He challenged key stakeholders in the built industry to come together and share experiences, knowledge and perspectives that will bring lasting solution to the problem of housing deficit in the country.