An Estate developer, Mr. Efe Igbinosa, has called on the federal government to review housing policies in the country to address deficit in the sector.
Igbinosa, who is the Managing Director, Pristine Property Development Company, who said this in an interview in Benin recently, added that private sector involvement in the housing sector should be coordinated as well as encouraged with incentives such as loans and subsidies.
“Land should be readily available and accessible to potential builders. We must also improve the process of registering our land titles, such that the process of building plan approval and issuance of Certificate of Occupancy should be accelerated. Some states have done well in this regard, but we still have a long way to go at the federal level, the process must not be less than two weeks,’’ he said.
He also suggested a viable and flexible mortgage system that would afford low-income earners the opportunity of owning an apartment with ease.
“The major aim of housing policies is to solve housing problems. The mortgage system must afford the low-income earners the opportunity of owning an apartment after many years of paying rent to the mortgage institution,”.
Igbinosa also urged the sourcing of building materials locally as well as mass production of building materials to reduce high cost of construction of houses.
He also urged the government to make provision of more infrastructure like pipe borne water, electricity, roads, and drainage among others a priority, especially within new housing locations.