months, according to media reports.
“There is no doubt that these laudable housing projects will go a long way towards re-invigorating our economy, drive national development and move the country towards, bridging the over 20 million housing deficit we are grappling with as a people .
“As the private developers will be part of the stakeholders to drive this federal government’s housing projects, I will implore Mr President to look out carefully and engage only developers of proven integrity, credibility, honour and track record to ensure the actualization of his 100,000 housing scheme for Nigerians.
The federal government can also support developers like us by making lands available to us and facilitate a single – digit credit facility to build affordable housing for Nigerians. The government alone cannot do it. governments at the three levels should partner diligent real estate firms like us support and complement their efforts at making affordable housing accessible by Nigerians, particularly people of the low and middle income brackets.”
He also bemoaned the fate of low and middle income earners regarding the daunting challenges they faced trying to own personal shelters in the country, saying it is going to be extremely difficult for the state and federal government to build low cost housing estates for them in an inflation – ridden economy.
“It is going to be extremely difficult for the state and federal government to have low cost housing estates. I’m saying it categorically as a real estate entrepreneur. The reason is that there cannot be low cost housing estates in an inflation – ridden economy because the prices of Cement in the market cannot be subsidized by government. There is a limit to what the government can subsidize.
“The government does not manufacture iron(steel), government does not manufacture cement, granites and sand. Government won’t send manpower to operators in the build industry. What does the government have apart from the land? Even the land you cannot just go hijack land from the custodians of the land. Who will compensate them? We see government using land use Act to take land from people. it is bad. If you take land from people, you must compensate them.”
Speaking earlier, the chairman of the Consolidated Chapel of the Ogun State Council of Nigeria Union of Journalists (NUJ), Pelumi Olukoga, identified the Pelican Valley CEO as a foundation member of the Chapel and a critical stakeholder who invested his time and resources towards building it up before going into the real estate business fully.