Association pledges to stimulate economic recovery through housing devt. – Official
NAN-H-122
Recovery
Uche Bibilari/Emmanuella Anokam
Abuja, Feb. 22, 2017 (NAN) Mr Ugochukwu Chime, the President of Real Estate Developers Association of Nigeria (REDAN), says that the association is organising a building expo to stimulate economic recovery in the country.
Chime, in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday, said housing development is part of the benefits inherent in economic renewal for Nigeria.
NAN reports that the building expo will hold between March 15 and 16, with the theme: “Investing in Real Estate for Economic Recovery and Expansion,” at the International Conference Centre, Abuja.
“A renewed economy that is vibrant, robust and well equipped is necessary for a sustainable growth and that is what we hope to achieve through that expo.”
He expressed optimism that employment will be generated from the expo aside from affordable housing being accessed by the ordinary Nigerians.
Chime said that the expo would afford the various stakeholders involved in the housing sector opportunity to proffer solutions to the current housing deficit in Nigeria.
“We are asking people to come together so we can develop not only ourselves through this expo but to develop some policies that can help in tackling housing problems.
“We are looking at gathering developers and everybody involved in financing, whether from Federal Mortgage Bank of Nigeria (FMBN), refinancing companies, commercial banks and SHELTER AFRIQUE’’.
Chime said that the housing sector would in future contribute much more than five per cent of Gross Domestic Production (GDP) being the contribution from housing.
“This five per cent GDP contribution may be very low for us now but the reality is this, it presents an opportunity for growth, employment and we cannot do it in isolation,’’ he said.
NAN reports that REDAN, FMBN and SHELTER AFRIQUE had recently signed a two billion dollar Memorandum of Understanding (MoU) to provide affordable housing for Nigerians.
Chime noted that the event would avail REDAN members opportunity to know more on how they could benefit from the recently signed MoU.
According to him, the MoU is an opportunity for state Commissioners involved in land and housing, State housing development corporation and developers to receive part of the funding to provide housing in their various local government for the masses.
“We need more housing in Nigeria; we have a housing deficit of 17 million.
“Therefore, the best way to do that is for us to sit together and look for opportunity and potential to tackle challenges either within or outside our organisation,” he said. (NAN)
UU/ELLA/OSA/AFA
Edited by Shittu Obassa/Felix Ajide