Drekford Homes Tasks Govt On Reforms In Housing Sector

Real estate firm, Drekford Global Concept Limited has urged the federal government to take urgent steps to improve the ease of doing business in Nigeria, stressing that such reforms are critical to addressing the country’s housing deficit and making homeownership more accessible to Nigerians.

Speaking during an interview with newsmen, chief executive officer of Drekford Global Concept Limited, Daniel Oparinde, emphasised that bureaucratic bottlenecks, high-interest rates, and policy inconsistencies continue to hamper private sector efforts in delivering affordable housing to millions of citizens.

“The housing sector holds enormous potential for economic growth, job creation, and social stability,” Oparinde stated. “However, without clear and consistent policies, timely land acquisition approvals, and access to funding, developers face significant challenges that limit the scale and speed of housing delivery.”

He noted that Nigeria’s housing deficit, estimated at over 20 million units, requires a collaborative approach between the government and private sector players.

“Every sector of the economy largely depends on the government, so it is in the real estate sector. This is so because government has the power to make regulations and policies, hence it is the responsibility of the government to make business climes easier for owners.

“One of the areas the government comes in is inflation. When inflation is being controlled properly, prices will go down, and this can in turn help developers to make feasible projections and achieve good results. However, when inflation is unpredictable as the case is today, it is really bad for business because it therefore means that a developer’s projection may hit the rock,” he said.

He also stressed the need for effective price regulation of building materials as such will help both developers and homeowners to make plans that are feasible.

This, according to him is in addition to the need for policy reforms that remove bureaucratic bottlenecks in land acquisition, construction approvals, and access to financing.

He urged regulatory agencies to streamline and ease land acquisition processes, reduce taxes and levies in order for developers to be able to deliver affordable housing to citizens.

When asked about key precautions for property buyers in light of rising scams in the real estate industry, the CEO stressed the importance of verifying a developer’s track record. He advised, “before you invest, examine the track records of the developer.”

Drekford Global Concept, renowned for its customer-centric approach and community-focused developments in Abuja, is inviting potential investors to explore opportunities in the real estate sector with the company, assuring them of strong returns on investment.