Sen. Aminu Waziri Tambuwal, CFR, the Chairman Senate Committee on Housing and Urban Development has actually restated the Senate’s dedication to application of the real estate master strategy throughout the nation. The previous Sokoto State Governor provided the dedication on Thursday at the 12th conference of the National Council of Land, Housing and Urban Development held at Shehu Yar’adua International Conference Centre, Kaduna. The program themed: “Harnessing Local and International Credit Schemes as a Panacea for Affordable Housing Infrastructure Development under the Renewed Hope Agenda” has in presence the Honourable Minister of Housing, Arc. Ahmed Musa Dangiwa and other crucial dignitaries. Speaking at the celebration, Senator Tambuwal, the previous Chairman of the Nigerian Governors Forum, determined the vital elements impacting the supply of real estate systems in Nigeria as epileptic monetary system and sluggish administrative treatments. He described other elements to consist of high expense of land registration and land titles, real estate policies, high expense of structure products, and high expense of land acquisition. According to him, in 1991, Nigeria’s real estate deficit was at 7 million and increased to 12 million in 2007, 14 million in 2010, 20 million systems in 2018, and in 2023, Nigeria has actually an approximated 28 million real estate deficit. To bridge this space, Tambuwal stated the red chamber committee would line up with Central Bank of Nigeria CBN’s suggestion of providing 1,000,000 real estate systems each year as versus the existing 100,000; keeping in mind the 3.5% population development, “If we need to meet the 2033 real estate forecast.” The previous Chairman of the Peoples Democratic Party’s (PDP) Governors Forum, nevertheless, assured that his committee would enhance its oversight function by working hand in hand with the National Council of Land, Housing and Urban Development in the application of the real estate master strategy.
28M HOUSING DEFICIT: TAMBUWAL RESTATES SENATE’S COMMITMENT TO IMPLEMENT HOUSING MASTER PLAN
