Housing Deficit: Stakeholders laud FG over N141b sector allocation
Stakeholders in the real estate sector have expressed their satisfaction over the allocation of N141bn to the sector in the 2017 budget saying, it will help in bridging the country’s housing deficit if properly administered.
The Second Vice President, Nigerian Institute of Building (NIOB), Mr. Kunle Awobodu, described the 2017 budget as ‘massive and impressive,’ as its full implementation would spur a lot of activities in housing sector.
“The 2017 budgetary allocation to the housing sector is an impressive one, and I believe that if it is fully implemented it will spur the needed growth in the sector,” he said.
Concurring, the chairman, Lagos Chapter of the Nigerian Institute of Quantity Surveyors (NIQS), Dele Mafimidiwo, commended the Federal Government for taking steps in the right direction in addressing the housing deficit through the budgetary allocation.
In his words, “Government has taken a bold step to start from somewhere though it may be very small amount when we consider the 17 million-housing deficit in the country, but I believe that such bold step is very good. If Government can continue to earmark fund continuously like that, it will definitely go a long way in solving the housing shortages,” he said.
“This may not have significant impact of reducing the housing shortages but definitely it will still have an impact no matter how small. This is better than not doing anything.”
On his part, the Chairman, Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Mr. William Odudu, said the budget is a step in the right direction while cautioning that the disbursement of the funds and for what sector of housing will determine its effectiveness and benefit to the people of this country.
“I have always maintained that the government should concentrate on housing for the needy, the low income earners and not for the well to do or high income earners.“ If the budgeted funds are channeled to housing the low income earners, it will go a long way to reducing the housing deficit,” he said.
