The Oniru of Iru Land , Oba Abdulwasiu Omogbolahan Lawal, has called on the government to embark on audacious and ambitious housing initiatives as palliative for subsidy removal for the masses.
His Royal Majesty Oba Abdulwasiu Omogbolahan Lawal CON (Abisogun II) – The Oniru of Iru-land spoke on Wednesday at the 17th edition of the Abuja International Housing Show during a Special Interactive Session with Political Leaders by Housing Industry Stakeholder.
The traditional ruler in his proposition also suggested that the initiative should be driven by reputable private sector players.
This he said will seriously impact on the wellbeing of the country’s workforce.
He said, “As part of the palliatives government is proposing to cushion effects of subsidy removal and others, an audacious and ambitious housing initiative should be launched by the government driven by reputable private sector players.”
He gave an analogue of what to expect when such an initiative with say 1 million housing projections annually and engaging 100 developers.
He added, “With these pool of assets produced in well-structured settings in preferably centres of employment and metropolis, the landscape of cities and suburbs will change and homes retailed to end users on rent to own basis with an initial 10% deposit and balance over 15 to 20 years. Imagine the impact on the well-being of citizens.
“The initiative will create reverse flow of capital and the industry servicing this behemoth will build capacity to compete in the export market as local demand is being satisfied as well as create highly trained workforce.”
He therefore charged the audience that “time for talk is over. It’s time for bold and audacious action that will transform the nation and change our trajectory.”
