REDAN tasks FG to stimulate economy through mass housing construction

By Hassan Zaggi

The President of Real Estate Developers Association of Nigeria (REDAN), Dr. Aliyu Wamakko, has advised to federal government to, as a matter of urgency, engage in massive housing construction in order to boost the nation’s economy.

He gave the advice at the 2nd Jakande Housing Lecture Series (JHLS), yesterday.

While lamenting that Nigeria has found itself in another round of recession, he, however, insisted that: “In the considered opinion of REDAN, Government should

concentrate her energy in stimulating the Nigerian Economy via massive housing construction in order to boost the economy that has once more gone into recession.

“Housing development does not require incubation period, what is needed is strategic and holistic planning.”

Dr. Wammako, however, disclosed this his association was working with the Family Homes Funds Limited (FHFL) to provide construction finance to its members in order to actualize Rural Urban Housing Initiative (RUHI)-774 initiative which is intended to provide mass housing and relieve Nigerians of the effect of COVID-19 pandemic.

“However, with the recession, it has become pertinent as well as imperative for the collaboration to be concretized with FHFL wherein they will provide construction finance to massively produce housing and create employment, as part of her mandate, leading to economic stimulus to reverse the recession,” he stressed.

He insisted that it was time for Nigeria to overcome its housing deficit being the giant of Africa and therefore, called on the government to redefine its policies in order to achieve that.

“Government policies at all levels need to be re-defined. While we commend the Federal Government’s plan to build 300,000 housing units under the Economic Sustainability Programme, such policy formulation deserves comprehensive analysis and thought-through by the major practitioners in the sector comprehensive and all-embarrassing success.

“As the populous country in the African continent, the time to stem the housing deficit is now, if we have to get it right,” he said.

Dr. Wammako, further explained that: “REDAN’s Rural-Urban Housing Initiative (RUHI-774) which is aimed at developing at least 100 housing units in each of the 774 Local Government Councils of the Federation including the FCT, where feasible and viable.

“It is designed to enable any citizen to own a home at his/her Local Government of origin or anywhere of their choice in the country.

“The RUHI-774 Project is geared towards producing 100%

Nigerian House to promote Local Content Development. We are collaborating with the Building Materials Producers Association of Nigeria (BUMPAN) whom some members have offered to 25% discount as encouragement to the scheme as part of Cooperate Social Responsibility.

“We are also collaborating with all the professionals in the built industry including the Nigeria Society of Engineers (NSE) Nigeria Institute of Builders (NIB), Nigerian Institute of Architects (NIA), Nigerian Institute of Quantity Surveyor (NIQS) amongst others for standardization.”

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