Valuers urge government to prioritise housing, guarantee homeownership

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) Lagos branch has advised Federal Government to prioritise housing provision and formulate a policy that would guarantee access to shelter.

The branch also expressed dismay at increased homelessness among Nigerians and called on the government to declare a state of emergency in the sector, as well as make housing affordable.

The Chairman, Mr Gbenga lsmail, who made the call at an event to mark the branch 2024 Estate Week that attracted the branch’s past chairmen, stressed that shelter is a necessity and reiterated the need to make homeownership a security issue.

Ismail said: “The housing deficit before now was indeed in figures unimaginable and demand on the other hand shows no respite. Today, the deficit though unproven will not be less than 20 million. The minimum cost of finishing a 150-square bungalow is not less than N30 million and access to a basic mortgage facility will only allow N15 million. The homeownership equation seems a puzzle that mathematicians will resolve.

“If the cost of building has gone up by 300 per cent and effective purchasing power has dropped by the same amount, people won’t be able to afford homes, and the cost of rent. There is a huge element of urban homelessness, and the 20 million deficits are within those areas. In Lagos alone, many people live under the bridges,” he said.

He said the institution will continue to advocate for better homeownership policy that empowers and gives security to the citizens, as well as attend to land tenure issues, long-term finance, local content development, property taxation and physical planning regulations and zoning.

NIESV President, Mr Victor Alonge, tasked fellows on the importance of maintaining an open-door policy and the significance of robust council meetings to grow the profession.

Alonge said the new NIESV leadership is open to constructive criticism but warned against misinterpretation of information on social media.

He lauded the branch for continuous innovation and past chairmen for their immense contributions to the growth of the profession.