The housing sector is currently going through tough times as the current foreign exchange market crisis is affecting developments in the sector.
To this end, realtor and chief executive officer of BSTAN Homes, Becky Olubukola, has urged the federal government to find solution to resolve the housing gap as well as the exchange rate crisis.
She said, there is a sure linkage between house prices, building materials and exchange rate depreciation, especially, when one is considering a high import-dependent economy that Nigeria operates.
According to her, the rise in the exchange rate had resulted in an increase in the cost of materials, making life difficult, unsustainable, and unaffordable for the average person.
She said:“the effect of our naira to dollar rate right now is hitting hard on the housing sector; it is not a good time for us, as cost of materials have gone up. And because of the passion to provide affordable homes, we are still trying our best, even to Nigerians in diaspora.”
BSTAN boss urged the government to take urgent steps to subsidise housing industry,in the capacity to create the materials required to erect an inexpensive apartment for every citizen.
She berated the inadequate mortgage system of the government, stating that the firm has finalised plans to empower Nigerians with 10 plots of land worth N100 million as part of measures to depopulate the urban regions and increase business prospects in the rural areas. She said, the project was part of the organisation’s aim to eradicate slums in urban areas, as she cautioned that if Nigeria failed to eliminate slums in cities, residents of the slums would cause issues for city dwellers.
She further said BSTAN would focus on attractive rural locations with infrastructural development and build roughly 100 affordable dwelling units.
“We need to put heads together, develop the slums; let us stop using the poor as tool for political thuggery, let us stop using them as tool to remain in power.
“True leadership empowers those around; suppressing the poor is not leadership, keep them to remain in their state one day they will face you and bite you,” she added.