MD CEO of Suru Group, Edward Akinlade, has stated that federal government has no business in the housing sector other than creating an enabling environment for private sectors that are experts and have the financial strength to invest in the business.
He made this known during a media parley with pressmen on Wednesday, June 27, 2018, at his GRA head office in Lagos.
Mr Edward, while reacting to the ongoing federal housing scheme, stated that the housing ministry should factor the real estate players in the country into housing projects and use their budgetary funds for more robust projects outside building houses.
He said;
I have been following what the federal government is trying to do. We had a program a couple of years back when the minister said his development plan that fits every locality of Nigeria. So some part will not accept high-rise. You can’t go to the city of Kano and expect them to be living in those flats; they won’t go in. so all you can build in those areas is a bungalow.
“For me, the quantity of these houses will not move anything considering the magnitude of 20-25 million people. The federal government should not be building homes. They should only create enabling environment for people like us in the housing industry to do so. This is the mistake government has been making over the years. And until we address those areas, we will not get it right.
“If you leave Lagos at the moment, and you drive towards Badagry, there is an estate that the federal government has been building around Agbara for God knows how long. The estate is almost overgrown as of today. The location is utterly misplaced.
“You can’t build houses for people who work in central Lagos, in Badagry. how will they come to the office every day, if the transportation is not there?
“You can only put developments in areas of need to make it effective.
“Let the government propose their plan and get the land from the state government and give them to real estate developers. Tell them your delivery value and get the cost of the land in unit, back to the government, and let them allocate to the people. The developer will also sell and make their own money.
“There are lots of real estate developers in Lagos who can be a part of the pool, but the government is to give us the land.
“Let the ministry use the budget for housing to do something more meaningful and impactful project for the country.”, he added.
