BY CHIDI NKWOPARA

The Association of Housing Corporations of Nigeria, AHCN, has raised alarm over the dearth of housing in the country. The Association noted that housing for all will remain a mirage, especially as the pension fund, which today is worth over N2 trillion has no provision for investment in housing.

AHCN President, Dr. Ifenna Chukwujekwu who raised the alarm at a national workshop on “strategies for effective participation of private developers in low cost mass housing delivery” as part of the 89th council meeting of the body in Owerri declared: “the pension funds, which today is worth over N2 trillion is only restricted for investment into equities, government bonds and bank deposits. No provision was made for housing investment”.

The AHCN boss who opined that workers should to retire to their own houses after a successful working career and service to the nation, stated that “ a pool of long term funds accessible through the vast pension funds and the long term requirement of mortgage financing would surely enhance long term investment into the mortgage sector”.

Dr Chukwujekwu advised the government to confront every barrier militating against sustainable housing delivery and home ownership. This includes the the Land Use Act of 1978 which he stated, should be overhauled to make land available for housing.

Chief Executive Bauhaus International, Dr. Victor Onukwugha who hosted the worksshop, explained that it was put together to work out ways of providing houses for the less privileged citizens at an affordable rate.

“The issue of inadequate housing for the citizenry has remained intractable. It is indeed a serious problem in all the states of the federation. We may never get out of it if serious attention is not given to the problem”, Dr. Onukwugha said.