By Owoleye Oluwakayode
The Managing Director/Chief Executive Officer of the Federal Housing Authority of Nigeria, Senator Gbenga Bareehu Ashafa has tasked participants in the housing sector to ensure they put all ideas mined during the 15th edition of the Abuja International Housing Show into practice.
Senator Ashafa made this known to journalists in Abuja at the International Housing Show, saying, “It is high time for policymakers and stakeholders put all they garnered in the event to work for the improvement and development of the sector.”
He noted that, whatever is learnt during the event should be put into use stating that, there is no need gathering ideas without putting it into use.
He also said that, going round the exhibition venue gave participants the opportunity to see that, over the years since the Abuja housing show started, there has been massive development in the sector.
He equally noted that, he is very optimistic that the show will impact positively on the housing sector.
“The show has grown from just a townhall event to an international one that is setting the pace in housing development in Africa,” he said.
On the issue of the housing deficit being experienced in the country, the MD noted that, there are lots of companies that are churning out wonderful ideas that are helping to close the gap in the housing crisis in the country.
“Companies coming out with different ideas and models that are suitable for our own environment.
“Among these ideas is the ‘rent to own’ program by the Federal Housing Authority to give respite to Nigerians who desire to own their personal homes.
“You may wish to note that, the ‘rent to own’ program is a unique financing agreement where a lessor agrees to collect monthly rent payments from a lessee for a specified period of time, after which the lessor transfers the title to the property to the lessee.
“These agreements are popular in the world of real estate, especially with low-income families who may have difficulty securing a traditional mortgage.”
Senator Ashafa also commended Mr. Festus Adebayo, the convener of the Abuja International Housing show for his contributions to tackling the housing crisis in the country by way of organizing the annual housing show.