Developer wants Tinubu to prioritise low-cost housing

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, who spoke in an interview recently, said housing should be a critical area of concern to the president since many Nigerians needed affordable housing.

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

He said funding remained a huge challenge to real estate operators in Nigeria and 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; the 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 deficits in Nigeria, Akintayo said 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.