Timely issuance of C of O only solution to housing deficit, insecurity – Odili Chairman

The Chairman, of River Park Estate, Paul Odili, has urged the Federal Government and the Minister of Federal Capital Territory (FCT), Mohammed Musa Bello, to issue Certificates of Occupancy (C of O) as part of efforts to spur necessary infrastructural development and tackle housing deficit in the country.

Odili who made this call at the weekend in Abuja while issuing C-of-O to house owners in the estate stated that issuance of C-of-O would encourage foreign investors in mass housing and consequently stimulate the operations of Small and Medium Scale Enterprises (SMEs) in Nigeria.

Blaming the worsening security situation in the country on youth unemployment, he urged the government to allocate more land to developers for them to create jobs for the youths.

He said: “We have a housing deficit here in Nigeria of 18 million units and now with the C of O, we will encourage foreign investors to get involved in mass housing because they know that, eventually, investors will come up.

“This also means that now with the C of O, they can start from bringing that document to the bank means that it is bankable. The money is not locked up in their property. They have a facility and that is going to help SMEs small and medium-sized businesses in Nigeria. This is a good investment decision. It makes Nigeria a good investment destination for foreigners and for individuals, It enables them to unlock the value in their homes.

“The importance of C- of -O cannot be overstated. It is a document issued to land owners and property buyers as legitimate proof of ownership. It also spells out what the land can be used for. It can equally be used for many purposes including as collateral.

“I am therefore grateful to the FCT Minister for making it possible for River Park Estate to get this very important document which it is issuing to house owners in the estate.

“River Park Estate will be law-abiding and adhere to all the rules and regulations guiding estate development in Abuja. We are poised to close the housing deficiency in the country.

Currently, River Park is expanding to Kabba District along Kubwa Road, Abuja.

Odili added that “River Park Estate uniquely located along Airport Road is one of the foremost estates in Abuja.

“It has well-laid out streets and state-of-the-art buildings, a functional police station and 24-hour security. It also has an 18-hole golf course and a shopping complex among other modern facilities.”

On his part, the vice chairman, Adrian Ogun, said that the issuance of C of O to residents would help to “unlock the equity inside the property to do business at will. It means we are moving forward, and we’re making a contribution to this housing deficit. Because if you think five to 6000 units coming here, if every mass housing project is doing that is going to increase the economy. It is positive in the midst of stories that are so negative.”