Experts seek improved funding to increase housing stock with 300,000 homes by 2025.

By Wilson Adekumola

The immediate past Managing Director of Family Homes Funds Limited, Mr. Femi Adewole has emphasised  the need to create a system that will improve funding of social housing projects in the country in order to increase housing stock with 300,000 homes by 2025.

He disclosed that if funds were sufficiently provided, Nigeria would be able to bridge  the existing housing gap and adequately provide shelter for the citizens.

He made this call while speaking at the second edition of annual memorial lecture organised by the Nigerian Institute of Builders (NIOB) in honour of late Otunba Fatai Isola Osikoya recently.Late Osikoya was the past President of the Institute.

He was held in high esteem for his professionalism and meritorious services in building and housing development in Nigeria as the first Chairman, Council of Registered Builders of Nigeria.

While speaking on the theme: “Agenda for Housing Development in Nigeria : 2023 in Perspective” Adewole bemoaned the incessant building collapses in the recent times. He then urged players in the building industry to employ the services of certified professionals to reverse the unethical trend.

He revealed that Nigeria’s building policy for the coming administration and years ahead should be able to improve social housing stock and manage some of the crisis that will boost the morale of people’s social standard.

The President of NIOB, Prof. Yohana Izam said the topic was well chosen to brainstorm with stakeholders on delivery sustainable shelter that will cater to the housing needs of the nation through global best practice in the New Year. Izam, who is  also the Vice Chancellor, Plateau State University, Jos, declared that it is imperative to observe a high standard of competence in housing delivery in Nigeria.

He stated that, “The Institute notes with concerns the lack of debates on the very significant issue of housing which impacts greatly on the property of all other sectors of the economy.”

In her own words, the Special Adviser on Works and Infrastructure to the Lagos State Governor, Mrs. Aramide Adeoye, acknowledged that the state actors reposed confidence in the professional builders to reform the system, as well as give Nigerians better housing.

The Vice Chairman, Nigerian Institution of Estate Surveyors and Valuers, Mr. Olugbenga Ismail, maintained the need to deploy use of local building materials instead of dependence on importation of  inputs to cut the cost of construction.