By Adaobi Rhema Oguejiofor
The effort to bridge housing deficit in Nigeria has continued to raise attention with stakeholders raising the call for solutions. To this effect, the Council of Registered Builders of Nigeria (CORBON) has called on the federal government to provide free lands to Nigerians to address this concern.
The Chairman of CORBON, Dr. Samson Opaluwah, while speaking in an interview, stated that the Council requested for the Tinubu-led administration to take the issue of direct access to land for citizens as a critical component if the matter of affordable housing is to be resolved.
Opaluwah pointed out that the cost of building is majorly affected by the cost of land and imported building materials, adding that addressing these issues would significantly reduce the cost of building houses. He highlighted the need for a national programme to address the housing deficit in the country, stating that housing is a very basic requirement of man next to feeding.
The Council Chairman noted that CORBON has been working to promote the adoption of smart technologies in Nigeria’s building industry, including training and capacity building programmes, and has established a training centre to conduct capacity building for builders across the country.
Opaluwah further observed that the council had also partnered with tech companies, startups, and research institutions to drive innovation in the building sector. According to him, the council’s long-term goal is to build a house for every Nigerian in Nigeria, with a focus on quality, affordability, and sustainability. He noted that CORBON was committed to addressing the housing challenges in Nigeria and urged the government to provide free land to citizens so as to make housing more affordable and accessible.
While emphasizing the need for government support and regulation to achieve the set goal, Opaluwah said “We want support for regulation. Right now, the development control organizations or planning authorities in most states are not able to visit and enforce their laws on the building sites. We have offered that we can support them.”
Meanwhile, the Chief Executive Officer (CEO) of Casafina Development Company, Dr. Seyi Olufemi, has advised investors to invest in prime property to weather the challenges of inflation and the continuous devaluation of the naira. Olufemi, who advised during a press briefing at the public presentation and launch of Greystone Residence in Maryland, Lagos, suggested that to combat these economic challenges, investors should focus on real estate, as it has proven to be one of the most reliable assets in the country’s current economic climate.
In his words, “Overall, the economy is a bit stressed. We know that this stress will come to an end but those who understand the values of prime real estate understand the values we are bringing to the table. More importantly, when things are down, inflation is very high and devaluation is affecting every form of asset.
“The three assets that will withstand these headwinds are commodities, equities, and real estate. For the serving investors, this is time to go for prime property to edge against these headwinds.”
According to him, the presentation of the 64-unit apartment Greystone Residence project aimed at showcasing that despite the challenging economic conditions, people could still make profitable investments in Lagos State with a supportive financial structure.
“Our target is to build one of the best residential real estate clusters on the mainland. We are building a total of 64 units of different types of apartments and by the time we deliver them, this will be the best residential area within this environment.
“The timeline for the Greystone Residence Project is 24 months, with 64 apartments and about 360 shops at Chemical Plaza to be completed before 18 months. We started the Chemical Plaza project in April. We have 18 months, but we will most likely finish in 12 months. That is our target.”
He said, “We want to build one of the best residential real estate clusters on the mainland. This is our target. We are building a total of 64 units of different types of apartments. By the time we deliver this on time, this will be the best residential area within this environment.”
On his part, the President of Chemical Market Ojota, Chief John Okezie, while expressing appreciation for the 360-shop enclosed plaza, stated that when completed, the projects would add significant value to both the Ojota community and Lagos as a whole. He added that the plaza is going to be the biggest in the vicinity with a promise to offer good security and it is going to be easy for people to adhere to the law that governs the plaza because it is an enclosed one that when completed, will add value and beauty to Ojota.