BY YINKA KOLAWOLE

A report has highlighted the importance of housing development to national economic growth, indicating that as many as 2.8 million jobs would be created annually in the country, if 1,000 housing units are built in each of the 36 states of the federation including the Federal Capital Territory (FCT).

The report attributed to the National Economic Management team was highlighted at the 3rd Annual National Social Housing Seminar held recently in Abuja, and hosted by the Forum of Advocates for Social Housing. It noted that if 1,000 housing unit estates are built in each of the 36 states of the federation and FCT, a workforce of 2,815,000 per annum would be created.

“An example is that the construction of a medium sized, two or three – bedroom bungalow is capable of directly creating employment for an average of 76 workers. The number goes up significantly when the forward and backward linkages are factored into the process. Therefore for a 1,000 housing unit scheme of two bedroom bungalows, up to 76,000 workers will be engaged for a period of between 12 and 18 months,” the report stated.

It noted that the required labour force consists of all professionals in the built environment as well as skilled and unskilled labour,  such as bricklayers, plumbers, carpenters, tillers, iron benders, painters, diggers, excavators, electricians, suppliers of materials, furniture makers, food vendors, block moulders, security men, drivers, horticulturists, gardeners, etc.

Organisers of the seminar noted that the report means that about 14 million jobs would be created if 5,000 housing units are constructed in each state of the federation and the FCT every year, which they noted is achievable.

The report further noted that the housing sector of the economy has a tremendous impact on job creation, employment, security, socio-political stability, effective economic growth and development of societies, adding that governments, the world over, device various strategies to meet this all important concern.

”Our vision 20:2020 and financial system strategy 2020 (FSS2020) have assigned special roles to the housing sector, expecting it to drive the financial system and contribute not less than 20 percent to the GDP by the year 2020,” it stated.