Everyone needs a decent home, without which they cannot be productive members of society, without which children cannot learn and families cannot thrive. In other words, decent and affordable housing is fundamental to the well-being of every family.
To the extent that stable, affordable housing is critical to breaking the cycle of poverty, housing investment remains valuable and a major driver of the economy, both in developed and developing countries. In addition to contributing about 14% of gross domestic product in the United States, for instance, housing also triggers another 6% in downstream expenditures in the country.
The International Human Rights Commission, recently lamented Nigeria’s growing number of homeless people, saying the country’s housing deficit stands at about 28 million units at the moment.
In the words of Winston Churchill, the pessimist sees the difficulty in every opportunity, while the optimist sees opportunity in every difficulty. The prospects are there for the industry to thrive, with lots of opportunities for development within the housing sector, but those opportunities can only be realized by conscious efforts of government and private sector commitment to realizing them.
Invariably, there would be a collaboration between the public and the private sectors of the Nigerian economy, stakeholders in the housing delivery process, the professional associations, the builders, the research institutes, the academic environment, bilateral organisations, and other concerned bodies should put heads together to discuss and proffer solutions to the housing challenge, but at the apex, the government should be the umbrella for these organisations and stakeholders to be able to...
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