On 12th January, 2019, at the J. F Ade-Ajayi Auditorium, the University as part of its efforts in ensuring that housing industry plays its role in the economic development of the nation, the University of Lagos Centre for Housing and Sustainable Development in association with the Roland Igbinoba Real Foundation for Housing and Urban Development FESADEB Media Group and other stakeholders organized a town hall meeting with Presidential candidates on the state of Nigeria’s Housing Market.
The five presidential candidates, namely, Prof. Kingsley Moghalu of Young Progressive Party (YPP), Dr. Oby Ezekwesili of Allied Congress party of Nigeria (ACPN), Fela Durotoye of Alliance for New Nigeria Party (ANNP), Omoyele Sowore of African Action Congress (AAC) and Isaac Ositelu of the Accord Party attended the debate that attracted industry stakeholders. The major contenders – President Mohammadu Buhari of All Progressive Congress (APC) and Alhaji Atiku Abubakar of the People’s Democratic Party (PDP) shunned the debate.
The candidates agreed that the Land Use Act should be repealed, as it has been a clog in the wheel of housing development in the country. They also took a swipe on the mortgage sub sector and unveiled plans to grow refinancing as well as create market incentives that will target lower mortgages. They, however, differ in some areas when they were asked on what to do with respect to protecting the rights of citizens to cheap and affordable housing for all. Other areas of discuss include the protection of citizen rights with respect to cheap housing, and mortgage amongst others.
Earlier, the founding Director of the Lagos Centre for Housing and Sustainable Development, Prof. Timothy Nubi said housing is indeed the foundation of industrialization with great potential to resolving unemployment and poverty dilemma in the country. Prof. Nubi stressed that the multiplier effect of any programme that delivers housing in millions can never be under-estimated.
Meanwhile, the Vice Chancellor, Prof. Oluwatoyin T. Ogundipe, FAS, who was ably represented by the Deputy Vice Chancellor, Academics and Research, Prof Wole Familoni, noted that with 100,000 housing units production annually, Nigeria has 35 per cent home ownership, which is the lowest in Africa. He, however, expressed hope that the meeting will help to bring the nation out of the housing quagmire.
Watch the live streamed video → here