President, Nigerian Institute of Town Planners , Mr. Olutoyin Ayinde
Despite the quarter figure reflecting a higher economic activity, the real estate and construction remained low as operatives continued their reliance on imported building materials, while inflation on local materials increased construction cost and contributed to slumping in the sector’s performance.
“Our attempts at diversification have been more of lip service. It still looks as if we are more dependent on oil, while some building materials can be sourced locally and sustainably. Improving on the security situation would guarantee more housing.” The President, Nigerian Institute of Architects , Enyi Ben-Eboh, said the year under review has not been very encouraging for housing as the poor economy in 2020 spirals into 2021 to account for its bad performance in the year.
“A lot of materials that are used in the construction industry are imported or have foreign components and with the fortune of naira dipping over the last couple of months, it has also impacted the cost of building materials, which have become more expensive. The cost of cement, depending on where you are, has almost added an N1, 000 to what it used to be at the beginning of the year.
He said: “We should have professional bodies serve as a watchdog to the government and the government should also trust the professional bodies by involving them in every project government is developing. Let various state governments who are in charge of development control try to domesticate the building code as much as possible.”
He lamented that houses are still expensive, while housing schemes that were designed for the common man are no longer for them.
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