Builders explore solutions to affordable housing challenges

The Nigerian Institute of Building (NIOB), Lagos chapter has reiterated its commitment to tackle housing affordability and financing challenges limiting access to shelter and investments in the real estate sector.

Chairman of the chapter, Mr Adeoye Thomas, gave the commitment while speaking to journalists in Lagos on the institute’s forthcoming builders’ conference themed: ‘Breaking Barriers and Empowering Change in Nigeria’s Real Estate Sector, Process and Control’.

He said by breaking impediments to housing accessibility and implementing innovative financial models for projects, more Nigerians would be able to own homes, while the huge deficit would be bridged.

Thomas said: “By following the entire process and control framework, the real estate sector can break barriers and empower change, leading to increased efficiency, transparency and accessibility.

He disclosed that through the institutes’ advocacy, building collapse is reducing; the government has started to engage more professionals in building production sites, control and monitoring, while the society has become more enlightened on the danger of not engaging registered builders for projects.

“We are reiterating that there is a law in Lagos State that stipulates that non-engagement of registered builders for projects is punishable under the state building control agency regulation,” he said.

Chairman of the conference committee, Abiodun Ogundare, harped on the imperative of housing affordability and financing, as well as expressed the determination of the institute to reduce building collapse, which reduces investment and makes the real estate sector less viable.

Speaking on the government’s amnesty programme for building permits, Vice chairman of the chapter, Mr Owolabi Ayoola, said that 80 per cent of buildings in the state have no building permit; hence the amnesty offers a significant opportunity for property owners to get permits for their buildings.

However, he said, the poor economic situation in the country has prevented many people from obtaining building approvals.

While he acknowledged that the government has been sensitising the people on the benefits of getting building approvals, Ayoola stressed that more sensitisation is needed for voluntary building permit compliance, adding that permits improve the value of a property.

Immediate chapter past chairman, Sunday Wusu, who highlighted the importance of ESG in the real estate sector, stressed the need for professionals to acquire more skills.