Breaking News
Translate

‘Why homeownership may not be easily realised’, by expert

Kindly Share This Story:

By Henry Ojelu

Poor income, high cost of land and building materials, population explosion have been identified as the reasons why people’s quest for home ownership may not be easily realised.

The Chief Executive Officer (CEO) of Aerofield Homes Limited, Mr. Armstrong Temitope Akintunde, stated while briefing newsmen on his organisation’s Christmas Promo, aimed at offering affordable houses to low-income earners.

Akintunde also stated that for the government at the three-tier levels to realise their dream of providing affordable homes to low-income earners in the country, there is the need to enlist the participation of credible real estate developers.

READ ALSO:Delta Govt empowers 460 women with skills, presents starter packs

He said Nigeria’s population explosion in the face of housing deficits could not be managed by the government alone.

“There is no doubt that the housing deficit in the country is increasing on a daily basis as the human population also increases, as the entire population of Nigeria is now crossing the 200 million mark.

“The people’s quest for home ownership may not be easily realiseable,” he observed.

The Aerofield Homes CEO urged the government, under its Public/Private Partnership (PPP) policy, to involve tested real estate developing organisations to help provide affordable houses for the people.

He argued that the developers were enriched by the experience in housing delivery to the average Nigerians, who pay the installment.

“Aerofield Homes Limited, for instance, is a dependable housing establishment for the masses, and was created with a mission of affordable housing for all.

“We have studied and understood the acute problem of bare shelter that faces many Nigerians as millions don’t have access to befitting homes.

“This prompted us, as one of the big players in this critical sector of the Nigerian economy, to be providing shelter for thousands of Nigerians.

“Aerofield homes have been involved in the construction of several multi-million naira housing projects and it has become a brand that can be called ‘thriving and prosperous housing investment’,” he stressed.

Akintunde added that the expansion plan of Aerofield Homes was to ensure that Nigerians benefit maximally from its unique housing projects, particularly as a bonus in this Yuletide period.

“It’s obvious that many Nigerians have suffered the paradox of economic growth without development for many years, for which many economists and real estate analysts often lament and describe as lopsided growth and development.

“This and other reasons prompted us young real estate developers to join the Nigerian project by offering helping hands to the Government in their quest to bridge housing deficits and ensure that more Nigerians are housed and given comfortable homes.

“This is even made more poignant in the face of the economic recession occasioned by the negative effects of COVID-19, among others”.

According to him, It’s quite obvious that many Nigerians are poorly remunerated.

“Being a business establishment, one must confess and state bluntly that Nigerians earning between N20,000 and N100,000 will find it pretty difficult, except by a miracle, to own a home of their choice with the ever-increasing cost of living, education, transportation, health, and feeding, among others.

“Besides, the cost of building materials is daily increasing. The only way this class of people could own homes is by cooperative arrangements, other self-help projects or by government’s supports in the form of a mortgage or some form of allocations, with the costs deducted from their salaries,” he appraised.

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!