The Federal Government has been advised to consider the construction of one million homes annually as palliatives to cushion the effect of fuel subsidy removal for low and middle-income citizens.
The advice was given by the Oniru of Iruland in Lagos State, Oba Abdulwasiu Lawal, has advised during his speech at the 17th edition of the Africa International Housing Show in Abuja.
Stating his reasons, the former Lagos commissioner for housing said the housing sector as a major driver of a vibrant economy could be utilised to provide jobs for 25,000 unemployed Nigerians if the proposed plan was implemented.
He said though interventions in the sector were like a drop in the ocean, when it comes to addressing the housing deficit, the new administration must tackle the issues militating against adequate and affordable housing, particularly for the teeming masses.
Speaking during his welcome address, he stated, “As part of palliative to cushion the effect of subsidy removal, an audacious and ambitious housing initiative should be launched by the government, collaborating with reputable private sector players.
“Under the initiative of one million homes a year, I advise that the government establish a partnership with 100 private developers in collaboration with commercial banks who can guarantee investments to fund the construction of 10,000 homes in every city with a face value of 1,000 units per town.
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