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FG woos Korean investors on housing

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Yinka Kolawole
The federal government is ready to collaborate with Korean investors in the quest to enhance housing delivery to
Nigerians at affordable rates.

Minister of State for Works, Housing and Urban Development, Chief (Mrs.) Grace Ekpiwhre, stated this when a delegation of Korean investors led by the Executive Vice President of International Junior Science Olympiad, Prof. Sang Chun Lee, visited her in Abuja, and made a presentation centred on the generation of solar energy to illuminate houses.

Ekpiwhre who was impressed with the investors’ presentation, spoke of the need to foster partnership with the private sector in housing delivery to Nigerians. She assured the investors of the ministry’s readiness to support and collaborate with them through the Ministry’s Committee on Public Private Partnership and Business Development.

She lamented the huge housing deficit in Nigeria which is compounded by the high cost of providing infrastructure such as electricity, and thus welcomed the initiatives of the investors in housing delivery in relation to providing electricity to homes.

In his earlier remarks, Chun Lee, who is also a lecturer in Kyaunggnam University, South Korea, said the delegation was in Nigeria to explore areas of collaboration with the housing ministry and the private sector, adding that they are willing to share affordable technology available for the housing sector in the country.

In a related development, the investors from South Korean on a visit to Ekiti State have indicated interest in investing in low cost housing in the state.

During a business meeting with Governor Segun Oni, the delegation said it was ready to construct low cost housing units, using monazite materials for building and complete solar lighting at the cost of $10,000 (about N1.48 million) per unit.

They also expressed interest in the areas of New town Development, Construction and development of schools and hospitals as well as construction of industrial parks and small and medium scale factories.

In his response, Oni stressed the readiness of the State Government to collaborate with the investors in the areas of education for science and technology and human resources development

He particularly requested a working relationship between the newly established University of Science and Technology, Ifaki-Ekiti (USTI) and the Kyaunggnam University of South Korea.

Oni said his administration intended to develop USTI into a compact and efficient institution with world-class infrastructure using local building materials available in the state such as clay, kaolin and granite.

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