Real estate expert wants Tinubu prioritise low-cost housing

Real estate expert wants Tinubu prioritise low-cost housing


By The Tochlight Africa News

A real estate operator, Dr Stephen Akintayo, has appealed to President Bola Tinubu to intensify efforts in building low-cost houses to alleviate the sufferings of Nigerians.

Akintayo, the Chairman of Gtext Holdings, made the appeal at a recent press conference to celebrate the 16th anniversary of the company in Lagos.

He was speaking against the backdrop of achievements of the president, one year after assuming office.

He said that housing should be a critical area of concern to the president since many Nigerians were in need of affordable housing.

”Let us build houses for our people, it is critical,” he said.

He said that funding remained a huge challenge to real estate operators in Nigeria.

The chairman called on the Federal Government to initiate projects that would make low-cost houses more available.

“Housing is subsidised in some other parts of the world; government gives a private developer land, thereby reducing the cost of building.

“They also give the developer some funding as well. Then, the developer brings the rest of the money, which makes the houses cheaper because he got the land free,” he said.

On how governments can bridge housing deficit in Nigeria, Akintayo said that governments could provide free land and some funds in a joint venture or public/private partnership model to reduce the cost of building.

According to him, with such arrangements governments can build millions of houses with ease.

Clarifying the company’s charity initiative and drive, Akintayo disclosed that 16 family owned businesses would be supported with N16 million grants to celebrate its 16th anniversary. NAN

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