—Says collaboration key to tackling Housing challenge

By Henry Ojelu 

The Managing Director and Chief Executive Officer of Aerofield Homes Limited, Lagos, Armstrong ‘Tope Akintunde, in this interview, speaks on the Housing challenge in the country and how collaborative efforts can help tackle the problem. Excerpt

How has the current economic challenge affected the real estate sector in the country?

It is really a challenging time for the country but we are keeping hope alive because President Bola Tinubu has always assured that this tough time won’t last and that it is a period that will birth a more prosperous and economically viable Nigeria. The cement prices have been crashing likewise the Forex too. We all hope that things will continue to improve. The truth is that the fuel subsidy will have to go given the fact that it was something that only a few people have turned to their pots of soup. Look at the allocation the government is now getting after the removal of subsidy, it has improved significantly. This means that there will be more resources for the government to take care of the people. I believe that this tough time won’t last forever.

Are you not bothered with the proliferation of real estate companies across the country?

I don’t think the fact that we are many should be a problem. After all, there are many people both within the country and outside that are in need of our services of providing decent and affordable housing for all Nigerians. However, there should be constant monitoring by the relevant government agencies to ensure that such real estate companies are really out to serve and not to fleece the people. Prospective clients should also endeavour to make inquiries to ensure that they do not fall victim of the unscrupulous elements. For instance, people abroad should always endeavour to do some background checks before jumping to do business with any of the real estate companies. They can also tell their people back home to help them get information about such real estate firms before investing in such firms.

How can the housing challenge in Nigeria be resolved?

Many Nigerians desire to have a comfortable place of their own but more often than not the means is not there. We all know that building a house is a bit capital-intensive depending on your taste. However, just as it is done in the developed world, the government must strengthen the nation’s mortgage banks such that they can make funds available for many Nigerians to have houses of their own. Such funds could be made available to some selected real estate firms that, in turn, will build the houses while the beneficiaries of this scheme pay back the loans over, at least, 10 years. Aerofield Homes is known for the prompt delivery of quality homes anywhere in the country and we are always willing to partner with individuals, groups and government as long as the efforts are tailored towards solving the housing challenges in the country. Our main concern at Aerofield Homes Limited is pushing down the figure of Nigerians without decent shelter and this we have been pursuing with tremendous drive, energy and integrity. Due to our excellent service delivery, our long list of clients which cut across the low, medium and high-income earners in the country, always have reasons to come back or recommend us to their friends and others.

What informed the birth of Aerofield Homes?

It is so important that it defines the dignity of a man as many people who sleep just wherever they find themselves, be it under the bridge, in the market or abandoned buildings, among others, are often described as homeless. Shelter is one of the non-negotiable basic needs of humans. In fact, the comfort, satisfaction, and protection of lives and properties that come with having a shelter, be it rented or owned, make it so crucial and a very important gap that virtually all human beings want to fill. Currently, a huge chunk of Nigerians, around 20 million citizens, are said to be having challenges as regards decent housing which is hampering their productivity and equally contributing to the serious problems of insecurity ravaging the country.

It is against this backdrop of vital roles that housing plays in our economy and in man’s natural existence that propelled the birth of Aerofield Homes Limited, Lagos five years ago. Having ruminated over the growing challenges of decent housing in the country and the fact that the problem appeared to have overwhelmed the government, we came up with Aerofield Homes Limited. Our major concern is to push down the figure of Nigerians without decent shelter and this we have been pursuing with some tremendous drive, energy and integrity.

Can you give insight into Aerofield’s partnership with Oodua Investment on Aurora Westlink luxury apartments?

The Aurora Westlink is an exceptional luxury apartment that emerged from the successful collaboration between Aerofield Homes Limited and Odu’a Investment Company Limited. Nestled in the heart of Ikeja G.R.A., the Aurora Westlink stands as a testament to Aerofield Homes Limited and Odu’a Investment’s commitment to crafting unparalleled living experiences for the discerning elite. This development seamlessly blends timeless elegance with modern sophistication, offering an oasis of luxury and comfort that benefit peoples esteemed lifestyle.

Whether you are an investor seeking a lucrative opportunity or a homeowner looking for a place of unmatched quality, the Aurora Westlink caters for diverse needs. Our commitment to legal diligence to ensure a smooth and transparent transaction process for all parties involved is highly prioritised.

The Aurora Westlink is made up of 54 units of terrace, penthouse, maisonette apartments and a room BQ each. The property is strictly residential apartments plotted on approximately 11,000sq among other reputable projects. The Aurora West Link Luxury Apartments in G.R.A. Ikeja, Lagos, for instance, offers the potential for attractive returns driven by the area’s prime location, upscale amenities, rental yield potential and the overall growth trajectory of Nigeria’s real estate market with a comprehensive security package encompassing gated community, 24/7 security personnel, advanced access control systems and collaborative neighborhood security efforts, among others.

How will you describe working with a conglomerate like Oodua Investment?

It has been a wonderful privilege to collaborate with the ever-evolving and highly focused Oodua Investment management team. I must appreciate the Chairman of this conglomerate, Otunba Bimbo Ashiru, for his dynamic leadership and courage to expand the frontier of economic prosperity of this renowned business empire with collaboration such as ours which is designed to address the housing needs of Nigerians. We are extremely proud of this partnership and we are grateful to all the drivers of this lofty dreams, I mean those who believe in our capabilities and expertise to make a huge difference in providing decent and qualitative housing for Nigerians.

As a young entrepreneur, are you not worried about increasing negative reports on the activities of Nigerian youths?

It breaks my heart that some youths have refused to focus on building a great future for themselves. Yes, we may not have everything but where there is a will, there is a way. Amid all our challenges as a country, many Nigerian youths have built for themselves a life of impact, and I have not seen as resilient, hardworking, and very creative youth as we have in the country. So, those youths taking to crime under whatever guise should please retrace their steps and be determined and positive to contribute to making the country the best in the world. Nigeria has suffered the paradox of economic growth without development for many years. Many economists often lament what they have come to describe as our ‘job-less growth.’ While all macroeconomic indices point to an economy that is truly growing and there is noticeable improvement in our public infrastructure, especially power and roads, unemployment still remains a challenge. With our huge population comprising mainly youths, this is worrisome and a great threat to our posterity. Nigeria needs to achieve a quick-win solution that ensures that most of our employable citizens are gainfully engaged. We must harness the innovative spirit and entrepreneurial acumen of our people in our battle against unemployment. We must empower our entrepreneurs to be in the position to create jobs on a large scale. Our youth too should believe in themselves and be creative, they should develop entrepreneurial spirit and stop chasing the white-collar jobs that are no longer there.

Nigeria is said to have a housing deficit of over 22 million currently. How can we bridge this housing gap?

Very, very well, it is still possible for the government to partner with reliable real estate firms like ours, among others, to embark on massive low-cost housing estates across the nation. Government only needs to get its priority right and have well laid out plans which it must strictly follow to solve the housing challenges. For instance, the government can provide lands at a very reasonable price to private property investors. This will help to deal with the challenges of land speculators, land grabbers or area boys who are fond of making unnecessary financial demands from builders before they can commence building at their sites. The federal and state governments should also encourage private housing investors by giving them some waivers in the areas of payments for Certificate of Occupancy (C of O) and construction charges, as this will not only reduce cost of building, but also assure them of governments’ support. Additionally, knowing that we have land developers here and there, governments could partner with some tested and result-oriented ones amongst them, because, as it is often said, governments alone cannot do it all. Aerofield Homes is founded on integrity and pledge to excellent service delivery to support Nigerians to own their houses without tears or regret of ever partnering with us.

Can you share with us some of the challenges in the industry?

Nigeria’s micro, small and medium enterprises are faced with many challenges which have resulted into their stunted growth and development. Some of these challenges are poor infrastructural facilities, inadequate funding and lack of access to capital among others. Among these challenges, the most restricting is the inadequacy of funds and lack of access to capital. Indeed, most other problems could easily be resolved with sufficient finance. Our financial institutions typically wait for entrepreneurs to become successful before they take any serious interest in their businesses. It doesn’t matter how creative and innovative they are.