Firm charts path to affordable housing in Nigeria
An indigenous housing group has said that the Federal Government could achieve affordable housing in the country by making lands available to developers and subsidising locally made and imported building materials.
Managing Director, Super Structures Limited and Leisure Court, Segun Abolaji, said land acquisition was a key factor to the housing deficit in Nigeria.
He said: “Land acquisition carries about 50 per cent of the cost of a house. It is very difficult applying for land through the government in today’s Nigeria. In most cases in Lagos, you have to buy from families and then go and process your Certificate of Occupancy. In Abuja, you have to buy from a third party who has previously been allocated land by the government. This is why the government needs to intervene by making land available to developers, and then in turn, the prices of houses will crash.
“Also, if locally made and imported materials are being subsidised and local industries are encouraged to produce more, it will reduce the cost of housing.”
He further noted that the problem of high cost of housing was causing so much chaos in the country, saying it was becoming more difficult for Nigerians to afford decent homes.
“There has been a campaign for affordable housing in Nigeria, and as a firm the focus is to help solve housing issues in the best way possible. Our target cuts across all classes of life ranging from the high to the low ends of the economy. We are more focused on the lower cadre of the economy,” he added.