Apparently disturbed by the huge housing deficit in the country with attendant socio-economic challenges, the Nigeria Institution of Estate Surveyors and Valuers (NIESV) has tasked the Federal Government and Co-operatives with the provision of financial backing for builders, saying they should come up with a blueprint that addresses the deficit.
The NIESV believes that the Federal Government intervention through the provision of credit facilities to would-be builders and proper house numbering throughout the country would help the government determine the level of intervention needed by builders and would-be homeowners.
Read also: Modernising corporate taxation
Delivering a lecture in Abeokuta entitled: “Housing Challenges in the Nigerian Economy” Adedeji Daramola, a professor and co-ordinator of Institute of Environmental Research and Development, Sango-Otta, disclosed that government failure to determine actual number of housing deficit or houses needed by Nigerians had also affected Nigerians’ loan culture as regards building and construction.
He said, “I want to start by saying if Nigeria cannot be serious enough to identify the actual number of houses we have, then people will still engage in buying houses they do not require. Also banks loan out money that is not supposed to be loaned out as either short term or long term loans.”
