They also said that housing finance is critical in the construction of houses for high, medium and low-income earners, adding that we have what it takes to develop the real estate sector for affordability.
The key speaker, Prof. Charles Inyangette of Innovative Risk and Investment Solutions Limited, argued that with about 22 million housing deficit, we would need to build 730,000 units annually. He, therefore, called for more improvement level of saving for affordable apartments for 200 million Nigerians, stressing that most people invest less in order to own houses, but put money on handsets.
Others he said include, financial inclusiveness, cost-effectiveness, affordability and security of tenure, business and investment opportunities. “Government is working assiduously to ensure shelter for the citizenries through innovative approaches. Some of the strategies and tools would be discussed briefly. The focus is shifting to Cooperatives and Rent-to-Own initiatives. Government is working on policy regime that would bring about flexible terms and conditions for obtaining housing finance and mortgage loans”, she said.