The Federal Government has said that it will sustain partnership with the private sector toward the full implementation and realisation of the National Housing Policy.
The Minister of Power, Works and Housing II, Mr Suleiman Hassan, gave the assurance on Tuesday at the Real Estate Developers Association of Nigeria (REDAN) 2018 Building EXPO and intensive workshop.
Declaring the two-day conference open, the minister noted that the National Housing Policy placed emphasis on private sector driven housing delivery system.
“To this effect, budgetary allocations are being consistently provided in the fiscal years to guarantee effective collaboration with a number of contractors for housing delivery across the country.
“I therefore call on our various development partners within and abroad to invest in Nigeria’s housing market whose viable potential are enormous.
“In line with this administration’s determination to provide shelter and affordable housing to the greater number of the citizens, new strategies that are undergoing acceptability and affordability tests have been developed.
“These new strategies will guarantee citizens sustainable access to qualitative houses,’’ the minister said.
Hassan said government was not oblivious of the number of challenges negating the rapid development of the housing sector over the years, which were familiar to all.
He said the ministry’s decision in June, 2016, hosted the National Housing Summit aimed at examining the key constraints against the provision of affordable housing and to develop strategic blueprint to address them.
“Prominent among the findings were lack of access to construction finance, dearth of mortgage financing, among others.
“Hence the emergence of the Nigeria National Housing project being built by the Federal Government nationwide, which critical features are responsive to the needs of the people in their cultural and climatic diversity,’’ he said.
Hassan said another strategic housing programmes of the administration aimed at bridging the deficit and renewing the urban centres were the mass housing under the prototype housing scheme and the Ministerial Pilot Housing Scheme.
The minister commended REDAN and other relevant bodies for initiating and championing the establishment of the National Real Estate Data Collation Programme whose end results would address the challenges.
In a keynote address, Prof. Timothy Nubi, Director, Centre for Housing Studies, Lagos, recommended Joint Venture (JV) collaboration among stakeholders to address the housing problem.
Nubi explained that apart from other collaboration structures, such as Public Private Partnership (PPP) and concession contract, JV could be applied to the real estate development projects.
“Both partners contribute assets finance and expertise to the development of the businesses. Thus the new company’s governance, assets and risk are shared by both parties.
“However, if not properly managed, joint ventures could be at risk when either of the partners take undue risk that can affect the fortunes of the new company.’’
He advised that it was not necessary to build without off-takers on ground rather it would be better to build for actual people who would show their interest and also would be part of the building process.
He also urged the government to focus on regeneration of slum areas by relocating the dwellers instead of displacing them
He listed problems across the housing development value chain as land acquisition, title issuance and tenure, bulk infrastructure, sales and transfer as well as maintenance.
The expert noted that collaboration at all levels was a major driving force in the sector.
The conference has its theme as “Enhancing Real Estate Development Through Collaborative Effort” and is being attended by professionals in the housing sector.
