A former Minister of Works and Housing, Babatunde Fashola, has called for the improvement of the rent-to-own scheme as part of efforts to reduce homelessness in Nigeria.

Fashola made the call on Thursday while delivering his keynote address at the ongoing 50th-anniversary celebration of the Federal Housing Authority (FHA) in Abuja.

According to the former minister, financial capacity is a major hindrance for most persons to purchase homes outright. As a result, the Federal and state governments must expand rent-to-own programs.

“Homelessness is the most undignifying experience for a human being and must be confronted with the necessary resolve by political leaders and policymakers. The sad but painful truth is that not everybody will be able to afford to buy a house; but I strongly believe that rental housing for all is possible, not only based on how we build but also how people pay rent,” Fashola said.

“Therefore, our housing policy must focus on rental as it focuses on ownership. Consequently, rent-to-own initiatives that started in the last administration must not be allowed to die.”

Fashola also called for increasing advocacy for state legislators to make laws that make the payment of rent convenient and convergent with wages and salaries.

He also suggests financing, housing types, affordability, people participation, and maintenance, urging the FHA to become a proper business run on strict corporate governance principles that conform with global best practices.

“FHA should recognise that the market demand is probably dominated by those in the age bracket of around 25 to 35 years and it would be helpful for FHA to conduct a highly professional survey of what their needs are before designing and building,”

Fashola, however, urged FHA to factor in digital platforms for advertising, sale, and payment, noting that this is the language of the younger generation of potential buyers.

“If FHA expects these class of buyers to come to their offices to come and collect forms to buy houses and go through some of the ancient red tape that time has tied away for FHA, then there is a risk to success,” Fashola said.