Affordable housing for low-income earners’ll reduce deficit – AHCN
Affordable housing for low-income earners’ll reduce deficit – AHCN

The Association of Housing Corporations of Nigeria, Monday, said that a deliberate attempt by relevant stakeholders to solve the housing challenges of the low- and middle-income groups remained a permanent fix to resolve the housing deficit currently experienced in the country.

This was as the association posited that federal and state ministries’ involvement in direct construction should be stopped immediately as their efforts had produced little or no result in the housing sector.

The President of the Council, Victor Onukwugha, gave the solutions while speaking on the state of the nation’s housing at an event held in commemoration of World Habitat Day.

The event, themed, “Mind the gap. Leave no one and place behind”, was held in Abuja.

While speaking with journalists, the president stated that the government’s renewed commitment to developing affordable housing, ministry disengagement from direct housing construction, rental housing, proper funding of housing projects and creation of agric villages to reverse urban migration would solve the problems, noting that a holistic approach must be urgently taken to salvage the sector from total collapse.

He said, “To address the question of availability and affordability of the lower segment of the society, there is a need to come up with deliberate and targeted policy to encourage private developers to engage on low-income housing through attractive tax rebates and incentives.

“One of such incentives is a specially-crafted housing finance from commercial banks backed and supported by appropriate laws that will regulate the process both on the supply and demand sides at a single-digit interest rate.”

Leave a Reply

Your email address will not be published. Required fields are marked *