The growing population of Nigeria, the challenges of providing shelter for the populace and the inability of the environment to attract foreign investors into real estate development are giving concern to meaningful Nigerians both home and in the diaspora.

Counting on his years of experience in real estate development to proffer solution to the challenges of mass housing in Nigeria, a Consultant/Developer and chairman of one of the fastest growing real estate development companies in the country, Prince Olu Faboro, has advised the Federal Government to settle the issue of security in the country so that the business environment for real estate development and other sectors of the economy could attract foreign investors for economic growth and development.

In his view however, he said that the bane of mass housing in Nigeria is sourcing of long term fund at reasonable interest rates, which is more available as off_shore fund from reputable finance houses in developed countries. Faboro said, to become a successful world class real estate developer, you have to possess the goodwill to work with government on Public and Private Partnership and government must also develop international goodwill that could attract foreign direct investment to create long term mortgages, especially for the average citizen. “This is aside the training and experience expected of the promoters of reputable real estate practitioners with solid background, adding, “in overseas, investors usually take their mega funds to societies where peace and human rights are observed and respected, but with the level of insecurity in the country today, it is difficult for foreign investors to invest in Nigeria. And this is why unemployment rate is high in the country.”

According to him, no investor will take his or her fund to a war zone where there is no respect for human life or where other people’s religion or culture are not respected.

He asserted that the Federal Government owns it as a responsibility to overhaul the security agencies in the country, ranging from the police, the immigration and customs services should be retrained to police our various porous borders where sponsored enemies of the country use to unleash terror in the country. For instance, Niger and Chad borders.

Furthermore, he stated that Nigeria needs peace and tranquility before we can achieve progress in this country, and the only way we can achieve that is by ethnic tolerance, respect for religion and culture. In addition, he advised that there is need for Nigerians to come together and dialogue on the future of Nigeria and to move the country forward. He tasked both new breed and old politicians in the country to plan how Nigeria could move forward for the future generation and for the development of this country, through judicious use of our resources.