₦airaland Forum

The Minister of Finance, Kemi Adeosun, has announced plans by the Buhari administration to launch a new housing finance initiative.

Under the proposed scheme, the Federal Government is planning a mortgage system that will catalyse the development of the mortgage market in Nigeria with the provision of single digit interest rate mortgages and longer repayment periods such as 20 years.

The proposed scheme also aims to provide 300,000 affordable homes supported by mortgages and creates 700,000 new jobs across a range of disciplines and professions.

The minister who made this known at the Annual Conference and General Meeting of the African Union for Housing Finance (AUHF) noted that with housing deficit at over 17 million, Nigeria was ripe for radical intervention in the provision of housing.

She said: “We are committed to fundamentally addressing historical challenges to housing. This requires innovative financial solutions that will stimulate housing development, related industries, create jobs across the nation and satisfy yearning for security through home ownership.”

The minister, represented by Mr. Seye Senfuye said: “Nigeria deserve to acquire affordable homes, built to a standard of good quality, located in well serviced estates that will create ideal environments in which they can raise their families, instead of being saddled with the challenges and risks of trying to build their homes organically.

“Due to the current high rates of interest, we believe that government intervention to bring down rates and enhance affordability is needed and we are committed to doing this.”

The Central Bank’s Director of Other Financial Institutions, Ahmed Abdullahi, noted that the housing market in Africa and in Nigeria is underdeveloped, and that the contribution of the market to the GDP in the country is less than one per cent, compared to the United States, which is about 80 per cent.

Abdullahi stressed the need to address absence of long-term capital that could be used to create mortgages, high cost of building materials, and problems of registering and enforcing property rights.

His words: “Mortgages are not short-term but the deposits we have in the banks are short-term liabilities, and you cannot easily use them to create mortgage. So, we need to address these challenges before we can improve the contribution of the market to the GDP.”

Read more at http://naijapropertiesonline.com/government-plans-new-initiative-targets-300000-new-homes/

With the recession leaving major players in the real estate bruised, experts have said that the return to growth of the nation’s economy should be driven by the construction industry.

The real estate and construction sectors have been reeling from the stains of the financial crisis, meltdown of the housing market and loss of jobs. But the experts, who comprises egghead in the industry believe that both sectors can promote growth through its links to other manufacturing sectors, such as the transport infrastructure.

A new report released by the European Commission suggested that every job created in construction results in two additional jobs elsewhere. “Construction is a bellwether of the economy, and, crucially for a bloc toiling to create jobs, generates local employment. It is the single largest economic activity and the biggest industrial employer.”

Essentially, the experts said that the sectors have an important role to play in stimulating Nigeria’s recovery. However, it needs the right economic incentives and regulatory framework that will compel the use of local raw materials in the industry to reduce the over dependence on imported raw materials.

President, Commonwealth Association of Surveying and Land Economy (CASLE) Olusegun Ajanlekoko told The Guardian, “construction Industry has always been seen globally as the barometer of the economic well being of a Nation. The current situation of the country, therefore, cannot but be worrisome. The parlous situation is worsened by the recent hike in cost of cement. It is sad development as the resultant effect on the cost of construction is definitely going to be no less than 40 per cent as cement is a major component and cost sensitive element of the construction Industry.”

Ajanlekoko, a past president, Nigerian Institute of Quantity Surveyors (NIQS) noted that the recession has badly affected the construction industry. “There is hardly any new projects coming on stream. Most cranes are lying idle throughout the federation. The existing newly built ones remain unoccupied.”

He urged government to grow the industry by directing fund into it. “The sector must have a priority as far as sectoral allocation is concerned in the Budget. There is definitely a need for a supplementary budget now. In addition,they must adopt policies that will make the country Investor friendly so that necessary fund can flow into the country.Also of utmost importance is the need to compel the use of local raw materials in the industry to reduce the over dependence on imported raw materials.”

But a past president of Nigerian Institute of Estate Surveyors and Valuers (NIESV), Mr. Bode Adediji lamented that Nigeria and the government lack the strategy, the policy framework, the institutional infrastructure and perhaps even the political will to use the real estate sector to solve the recession problem.

“One of the worst affected sectors of the economy by this unprecedented recession unfortunately is the real estate sector in all its ramifications. The demand spectrum has plummeted beyond description and virtually all the segments of the construction industry is currently in comatose without any hope of recovery in the immediate or medium time frame.”

He added that Government, despite the scale of the real recession challenges can use the real estate sector to contribute to the revamping of the economy through imperatives such as full recognition of the nature and scale of the problem besetting the real estate sector; summoning and deploying the political will to holistically overhaul the entire sector and mobilisation of local and international human and financial resources to jump-start the entire sector.

For NIQS President, Mrs. Mercy Iyortyer, construction activities affect nearly every aspect of the economy and so an economic recession is bound to have severe consequences on the construction sector.

According to her, the negative effect on the sector can cause high mortality rate of contractors, affect negatively manufacturers of construction products, suppliers, professionals in the built environment, not mentioning the resultant job losses that will go with it.

“Consequently, the Industry players will definitely face challenges at this period and indeed quantity surveyors will be affected. As cost and procurement managers of construction projects, quantity surveyors are key players in the construction industry. Consequently, any policy or development that affects the Industry affects the profession directly either negatively or positively. In the case of a recession, there is bound to be a downturn in the volume of construction activities, which will lessen our engagement on projects.”

She said: “Government can solve the problem by adopting deliberate strategies to pump money into the sector to fund construction activities even if it means borrowing in order to stimulate the economy. In some climes, government takes this deliberate initiative to stimulate the economy because of the multiplier and ripple effect it has on most other sectors of the economy.”

The Dean, Faculty of Environmental Sciences, University of Lagos, Prof. Timothy Nubi , said there is no other way out of the recent recession but to resort to construction and building industry.

“Look at any nation in the world that fight recession, it was the construction industry because it will activate other sectors, like the quarries, wood sellers, cement sellers, paint makers, even food vendors.

“ Construction industry is the engine room of the economy because it will make even the quarries busy. We should put our money in the productive sector to create further wealth,” he said.

According to him, when Britain witnessed recession eight years ago, the Prime Minister said, he would build recession out of Britain by building 270, 000 houses, so when you engaged in construction, people are employed , since a single bungalow can employ 118 individuals.

“So we can up scale the construction and building sector to cushion the effect of recession by engaging tile makers, painters, wood sellers and cement sellers.”

Also, NIESV President, Mr. Bolarinde Patunola – Ajayi lamented the lack of attention by government to the real estate sector over the years as it was mostly left to the private sector that can no longer cope under the present harsh economic realities.

He advocated full-scale government involvement in building and construction activities to salvage the economy.

Patunola – Ajayi said measures to stave off the recession would require government to begin to build houses to house its staff both at the local, state and federal levels, as well as embark on massive infrastructural development.

The immediate past President, Association of Town Planning Consultants of Nigerian (ATOPCON) Moses Ogunleye, said the building and construction sector generally can move the country out of recession when so much funds is injected into the sector.

Ogunleye, who also a senior members of the Nigerian Institute of Town Planners (NITP), said town planning can specifically contribute towards this, if Federal and State governments provide fund for preparing development plans; cities and towns will have opportunities to grow and develop. Business will be expanded, as adequate provision would have been made for their location and operation. More infrastructure will then be developed in line with prepared plans,” he said.

Asked how it could be done without funds, he said, if government is not ready to fund preparation of new plans in the immediate; the existing plans should be implemented.

Read more at : http://naijapropertiesonline.com/real-estate-construction-industry-can-salvage-economy-say-experts/

Thirty-three years after Alhaji Shehu Shagari and Lateef Jakande were ousted from office in a military coup led by incumbent President Muhammadu Buhari, the Federal Government may have decided to take a fresh look at the housing models adopted by the duo while they were in office.

Affordable housing:

The housing models adopted by former President Shehu Shagari in all the states and local government areas in Nigeria helped to boost the housing stock in the country. Similarly, Jakande’s housing programme in Lagos is still the talk of the town 34 years after he bowed out of office as the first civilian governor of Lagos State.

Minister of Power, Works and Housing, Mr. Babatunde Fashola who spoke in Abuja recently, said the government would understudy ‘Jakande and Shagari’s housing estates model to develop affordable housing units for the masses. This would involve building 40 blocks in each state.

The minister explained that there would be changes in the policy direction of the Buhari administration in the settlement sector.

This, he said, would commence with the 2016 budget implementation when the Federal government would spend N10b to build low income housing estates in each of the 36 states of the federation and the Federal Capital Territory, FCT.

It will be recalled that the Obasanjo’s administration upturned the policy of the Shehu Shagari administration by declaring that government would no longer build houses for people to occupy, hence he sold off all government houses built during the Shagari era.

Under Obasanjo, the Federal government through the Ministry of Land, Housing and Urban Development, collaborated with developers by provide lands for them to build ‘affordable’ housing estates. This policy direction that was pursued by both Ya’Adua and Jonathan governments.

Unveiling Buhari’s housing, Fashola said there is need for the government to review the existing policy in the housing sector to address the huge housing deficit in the country.

He said; “The housing sector presents an enormous opportunity for positively impacting the economy to promote not only growth but inclusion.

There have been a couple of National Housing policies and we intend to appraise the most current one to make changes only if necessary.

Government will lead the aggressive intervention to increase supply, by undertaking construction of public housing and formulate policies that will invariably lead to private sector participation and ownership to reduce our housing deficit.” He noted that the immediate past administration budgeted less in the housing sector of the economy, promising to reverse the trend.

“So for us, consistency is key, annual spending is an imperative. We must change the budget for national housing from N1.8 billion in 2015 to something in the hundreds of billions of Naira that matches our ambition. If we can spend N10 billion in each state and the FCT on housing alone every year subject to the capacity to raise the money and the capacity to utilise the funds having regards to our current construction methods and the time it takes to complete construction, which our ministry intends to change by research and industrialization of housing,” he said.

The Minister explained that the government would embark on seminars and conferences to ensure proper capacity building for stakeholders in the sector to drive the new agenda.

“If we achieve this, we will move from where we are now, start construction in all 36 States and the FCT and sustain this as we go along. In the housing sector, if we complete our on-going projects, and we get land from the Governors in all states and the FCT to start what we know, using the Lagos Home model, we should start 40 blocks of housing in each state and FCT.

“We expect State Governors to play a critical role here, by providing land of between 5-10 hectares for a start, with title documents, and access roads or in lieu of access roads, a commitment that they will build the access roads by the time the houses are completed.

“We see this leading to potential delivery of 12 flats (homes) per block and 480 Flats (homes) per state, and 17,760 Flats (Homes) nationwide, for a start. This will mean at a minimum of four doors and two windows very conservatively per home; a demand for 71,040 doors and 35,520 windows nationwide in year one, which we will encourage to be made in Nigeria. These figures are only examples and not fixed in definition and they are subject first to budgetary approvals and availability of finance,” Fashola said.

“The demand for those who will make and fix the doors and window, the hinges, the wood polish and the paint and tiles suggest the onset of jobs and change for our artisans and workers who are the real builders of every economy. Our experience in Lagos was that about on every one hectare of land where it was possible to build 8-10 blocks of houses, at least 1000 (One thousand) people got employed.”

Read more at: http://naijapropertiesonline.com/reduction-housing-deficit-fg-ponders-adoption-shagari-jakande-models/

The Senate President, Senator Bukola Saraki has called on estate surveyors and valuers to evolve strategies that would check corruption in the real estate sector, reiterating National Assembly’s resolve to stimulate urban development in the country through oversight function and effective legislation.

This came as the Nigerian Institution of Estate Surveyors and Valuers NIESV, backed the ongoing amendment of the Code of Conduct Act at the upper legislative chamber.

Saraki made the call while declaring open the 46th Annual Conference of NIESV with the theme; ‘City Growth: Issues and Challenges of Urban Sustainability in Nigeria’ in Abuja.

Represented by the Chairman, Senate Committee on Housing, Barnabas Gemade, the Senate President lamented that the real estate sector in the country is riddled with corruption, raging from cases of inflation of rents, over-priced land, lack of integrity among others.

The number three man in the country insisted that this does not augur well for the development of the industry, noting that the conference was apt to address some of the challenges facing the country.

“This conference, therefore, serves as a veritable opportunity for the institution to partner with the new administration to deliver on set goals that will significantly improve the welfare and living standards of our people.“As managers of land, buildings and other facilities, you are in a prime position to develop effective strategies that will cleanse the industry and make it attractive enough for meaningful collaborations.

“A situation whereby the real sector is riddled with cases of inflation of rents, over-priced land, lack of integrity and sundry corruption cannot augur well for the development of the industry.”

Saraki pledged the readiness of the Legislature to work with the recommendations of this year’s conference “in the bid to encourage city growth and stimulate urban development.”

He urged the participants to formulate useful and enduring strategies towards generating necessary funding for the development of the real sector in Nigeria, while also ensuring affordability for subscribers.

Also speaking the Minister of Power, Lands and Housing, Babatunde Fashola, said the federal government would address problem of housing deficit with a clear plan which would soon be unveiled.

Represented by one of his Special Advisers, Biodun Okiyi, the Minister expressed government’s determination to collaborate with any professional body with clear intention to improve housing sector in the country.

In his remarks, the President of NIESV, Olorogun James Omeru urged the Senate to let the ongoing amendment to CCT Act include that asset declaration must be backed with Valuation Certificate signed by a registered estate surveyor and valuer to guard against under-declaration or anticipatory declaration.

He explained that asset declaration as stipulated for the public officials is good but it is not complete, when monetary value is not attached to the property declared by the official.

NIESV Boss said that the 2016 conference would focus on articulating suggestions to guide government’s effort toward sustainable city development.

Omeru noted that the poor implementation of the Abuja Master Plan would be corrected, if the government would allow estate surveyors to exhibit their expertise in urban management.

Read more at http://naijapropertiesonline.com/saraki-estate-surveyors-develop-strategies-check-graft-real-estate-sector/

PROFESSIONALISING is derived from the term Profession/Professional. A professional connotes a person with a distinct competence for a specified function or discipline.Such a person would have been trained or has acquired the necessary training in that discipline to become a professional in that field.
A professional exists within the context of a profession; a distinct discipline or career path with its own training, qualification and membership requirements and standards.

It is in the bid to establish such standards that professional bodies exist to ensure that persons within its fold have the requisite training/qualification and also abide by its rules and ethical standards.

A professional in any field is a highly regarded person and is deemed to have a certain level of competence expected of a person in that profession.

Estate agency is essentially a land based profession that deals with the business of buying, selling or leasing of interests in real estate, which may be land or buildings or interests therein. Practitioners of this trade are generally addressed as Estate Agents in our environment.
Considering the importance of housing in mans hierarchy of needs and the huge deficit that exists in the housing sector in Nigeria, Estate Agents generally play a very important role in the socio-economic life of the country.

Generally an agent is a person, who possesses the authority to act on behalf of another person with a view to establishing contractual relationship between his principal and a third party.

The person, who employs the agent, is usually called the Principal. Several variants of Agent/Agency exist but that is outside the scope of this paper.

PRESENT STATE OF ESTATE AGENCY PRACTICE IN NIGERIA
The practice of Estate Agency in Nigeria at present remains largely unorganized, unregulated and unprofessional. Apart from the Nigerian Institution of Estate Surveyors and Valuers that has set standards for its practice by its members i.e. Estate Surveyors and Valuers, the large majority of those who practice estate agency do so without the basic training in that field, without any certification or quali fication, without any regulation and largely in an unprofessional manner.

The practice is generally open to “all comers” and entry and exit are at the sole discretion of the person. Due to the lack of a central professional/regulatory body that will set minimum standards for entry, set standards for its practice, as well as ensure adherence to a code of ethics, most estate agents are generally on their own and quackery with its attendant consequences is very prevalent if not the order of the day.

A multiplicity of local estate agents Associations exists but these are essentially local bodies without either the right structure, leadership or plans to advance the practice of estate agency beyond the parochial interest of the founders or originators.

EFFECTS OF THE PRESENT STATE
The effects of this present state are indeed too numerous to count. The major effects are that due to lack of regulation and requisite competence on the part of the practitioners, the consuming public has been on the receiving end of estate agents in terms of very poor services, fraudulent transactions and losses of income through the activities of dubious practitioners.

As a result of this, the public perception of the estate agent is very, very poor. Estate Agents are generally looked upon as persons, who engage in sharp practices and whom you have to deal with, with “all eyes” open. In view of this, the practitioners are not respected in the society. The very low level of respect for the practitioners has led to a situation where both vendors and landlords alike do not see the need to remunerate them appropriately, while the lack of standardization and regulation has led to both the landlords and the vendors turning themselves into agents.

In most cases, multiple agents are appointed and owing to lack of standardized practice procedures it usually turns into a cut throat competition amongst them. The level of abortive work done by the average agent is phenomenally high due to the non standardized practice procedure. The police, EFCC and other law enforcement agencies are after the agents in the belief that a lot of money laundering is done through the acquisition of properties with illicitly acquired wealth. The summary of the above scenario is that the average agent is worse off even as the consuming public is being fed with poor services in the sector.

PROFESSIONALISING THE PRACTICE OF ESTATE AGENCY
To achieve professionalism in the sector, the right approach will be to work towards ensuring that: Estate agents are appropriately trained and certified to practice; establish standardized prequalification and registration protocols for the prospective estate agents; keep a register of all qualified and certified estate agents; enforce compliance to a code of ethics and practice through sanctions; institute and implement mandatory training programmes for practitioners;

Institute appropriate professional indemnity insurance programmes for members, to ensure the protection of members of the public; set remuneration due to agents whether as single agents or cooperating agents; generally regulate the practice of estate agency; develop and project the practice of estate agency as a respectable brand that will continuously earn the trust of members of the public through quality service delivery of its members.

Protect and defend the interest of practitioners.
To achieve the above strategies for professionalising estate agency practice in Nigeria, there is the need for a national body that will champion the establishment of training, certification and regulatory protocols for practitioners of estate agency. The body will be similar to other professional bodies like NBA, ICAN, NIA, NIESV, etc and will have the role of developing and protecting the practice as well as ensuring that the interest of the general public and the practitioners are protected.
It is in this wise that one must commend the NIESV for establishing the Association of Estate Agents in Nigeria (AEAN) as a national body for Estate Agents in Nigeria. This Association must now take all necessary steps to establish prequalification procedures, certification and regulatory procedures, to ensure that practitioners have the necessary training, competence and diligence to deliver quality real estate agency services to the public. AEAN must now also work towards developing the practice of Estate agency as a respected Profession with positive public perception much in the same way as the National Association of Estate Agents in Britain.

BENEFITS OF PROFESSIONALISING ESTATE AGENCY PRACTICE IN NIGERIA
Professionalising estate agency in Nigeria will benefit not just the consuming public but also the practitioners. While the public will benefit through improved or quality agency services from reliable and well referenced estate agents, the practitioners will benefit through proper regulation of the practice, which will ensure that only qualified and certified persons practice the trade and that the practitioners are appropriately trained, equipped and remunerated.

The government and its agencies will also benefit in that the practitioners of the trade will be brought under one umbrella, which will make easier the regulatory work of such government agencies like the EFCC in its fight against money laundering.

CONCLUSION
The need to professionalise the practice of estate agency and to do so now cannot be overemphasized.
As the wave of globalization continues to blow and foreign firms and corporations keep coming in, there is the urgent need for us to fine-tune our practices and procedures, to be in line with international best practices. It may seem like a very difficult task but it can certainly be done and the time to do it is now.

The practice of estate agency is a professional discipline and our agents must have the right training, qualification and certification to hold their heads high; as worthy ambassadors of a profession that has a huge impact on the life of the average Nigerian.

read more on: http://naijapropertiesonline.com/how-to-professionalise-estate-agency-practice-in-nigeria/

Against the backdrop of the need to create new settlements, towns, boost socio-economic activities in rural areas and reduce rural-urban migration, Lagos state government plans to build 50 housing units in each Local Government Area of the state.

Disclosing this at an interview session with press men in his office, the state commissioner for housing, Prince Gbolahan Lawal, said the new policy of the state government is to build 50 housing units in each LGA across the state in order to create new settlements, towns and boost socio-economic activities in rural areas as a way of reducing rural-urban migration in the state.

Gbolahan who noted that Ambode administration believes in collaboration with LGAs as it is being done in other countries, pointed out that the state is constrained by its land mass, hence the resolve to develop the rural areas and their environs. He added however, that “If you want to reduce rural-urban migration, you must be able to stimulate socio-economic activities in rural areas and their environs. For instance, look at Epe, it is close to Lekki where we have the Free Trade Zone. So, people can conveniently live in Epe and Lekki which is just about 10 minutes’ drive to the FTZ”.

Explaining that the state does not have enough land to build more houses in the metropolis, the commissioner said “So, we cannot say we want to have 200 housing units in a place like the Lagos Island for instance. The area is already congested. This is why we must find a way around it.

“So, with 50 housing units in each LGA, and with our one-in-sixteen model that is on the way, it means we just need like three blocks to develop 50 housing units in each LGA. This means that we won’t need so much land for the houses. Again, because of the problem of productivity of workforce, we want people to live near where they work; while we are working on other social infrastructure. With that, we will be able to have growth”, he said.

Gbolahan who disclosed that Lagos land mass is just 3, 750 square kilometres, informed that “Now we have to go vertical way of construction in order to accommodate more houses and people. So, in our estates, we encourage four floors and as physical infrastructure facilities improve, we can move up to six floors. Our physical planning regime will change.

“When that time comes, the Physical Planning Ministry will adjust the policy of government where it says you cannot go above four floors in certain areas. Rapid population is a major concern. The growth rate is 2.8 percent; but is housing growth rate commensurate with population growth rate? The answer is no. So, we have to find a way of making the hinterland liveable, making economic activities expand to those places so that it will help in reducing rural urban migration”, Gbolahan noted.

On the 2.5 million housing units deficit in the state, the commissioner for housing who said about 600,000 people come to Lagos yearly, stated that it is for government to say can we do the 2.5 million houses in four years?

According to him, it is possible but it is a challenge, adding however, that where is the space? “Is the construction method of the 2.5 million houses going to be the same traditional way of construction? Are we going to use technology whereby we will be manufacturing homes? Our job is to build affordable homes, so we have to also look at the cost.

“As government, I cannot come out and say my one bedroom apartment is N10 million. So, we have to look at the cost of a unit. But if you are looking at the high end homes, then no problem because if that is what you choose, you should be ready to pay for the extras. But for the homes government wants to build which is to be made practical, we will have to continue to subsidise it. 25 per cent subsidy is already in those our LagosHOMS as the cost of infrastructure and land are already deducted.

“So, our prices are competitive. But on the 2.5 million houses in five years, the idea is this, the deficit we have now is 1.6 million; but for us to close the gap to forestall more deficit, we must be able to say lets put the deficit at 2.5 million. But with the way we build, only government funding with tax payers money, you and I know that it will be difficult because there are too many pressing needs for the state.

“Technology and private sector must come in to make this possible. We need primary and secondary mortgage banks to partner with us so that we can look at the mortgage and construction finance aspect of housing”, Gbolahan stated.

Read more at: http://naijapropertiesonline.com/lagos-govt-plans-50-housing-units-in-every-lga/

PRESIDEBNT Muhammadu Buhari has reiterated his administration’s commitment towards addressing housing problem in the country, just as the Shelter Afrique raised alarm over looming crisis in housing sector in Africa. The President stated that for the government to avert housing crisis in Nigeria by the year 2020, it had kicked start the process by earmarking N40b in this year’s capital budget for a comprehensive housing programme for the low income earners in the country, while still retaining housing standard. Buhari, who declared open the 35th Annual General Meeting AGM, of Shelter Afrique tagged ‘Housing Africa’s Low Income Urban Population’, in Abuja, however, agreed that government alone could not solve the problem in the human settlement sector without the involvement of the private sector. Represented by the Minister of the Federal Capital Territory, Mallam Muhammed Bello, the President said; “We are therefore very much convinced of the catalytic development potential of the housing sector and has accordingly earmarked N40 billion in the 2016 capital budget to implement a comprehensive housing programme in Nigeria. “Nigeria with a population of about 170 million people and an annual population growth rate of 3.5 percent requires an additional one million housing units per annul to reduce much acclaimed national deficit of 17 million housing units in order to avert a housing crisis by the year 2020.” Quality and affordable houses In his remarks, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, SAN, identified planning as the first key to the roadmap of providing quality and affordable houses in the country, while outlining the roadmap of his Ministry to achieving a sustainable Housing delivery. He said it was not only necessary but expedient to embark on proper planning to meet the real demand of the majority of Nigerians in housing, adding that it is the key to project completion, cost control and reduction in variation requests as well as financial calculations. The Minister noted that Nigeria never had housing plan, as the country’s National Housing Policy was only a mere Policy Statement, not a plan, He adding that his Ministry was currently developing the needed plan to make the housing policy a reality. “We must never tire to explain the necessity and importance of proper planning. It is the key to successful execution, it is the key to project completion, it is the key to cost control and reduction in variation requests and financial calculations. “I acknowledge that there is, for example, a National Housing Policy of 2012. Some have chosen to call it a plan. To the extent that it is a broad statement of intent about providing housing, it is a policy statement,” he said. Fashola further explained that the plan requires “a clear understanding of who we want to provide housing for, and I recognize that there are people who want land to build for themselves, there are also people who want town houses and duplexes, whether detached or semi-detached”, pointing out that this category of people were not in the majority. According to him, “The people who we must focus on are those in the majority and those who are most vulnerable; the people who are in the bracket of those who graduated from University about five years ago and more. People who are in the income bracket of grade level 9 to 15 in the public service and their counterparts, taxi drivers, market men and women, farmers, artisans who earn the same range of income.” The Managing Director, Shelter Afriques, Dr. James Mugawa said the current situation in the African continent regarding housing problem calls for concern, which all leaders in the continent must give a priority to. “It is no secret that there are huge housing deficits across the continent, in Nigeria alone, it is estimated at a whopping 17 million units and could be more once current data is made available. In nearby Ghana an estimated 170,000 housing units are required every year over the next 10 years. “In Kenya doesn’t fare any better with the deficit estimated at 2 million houses over the next 10 years. These estimates however assume that the population will remain static, and from what we can see, it will not.’

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