First Vice President, Nigeria Institution of Estate Surveyors & Valuers (NIESV), Mr. Emma Wike, has asked the Federal Government to invest over 50 percent recovered loot into housing provision.
He said he took that position knowing that most of the recovered funds from political office holders and politicians were more of proceeds from housing-related crime.
In an interview with newsmen in Lagos at an event organized by the institution to raise awareness on the need to housing provision, he also asked for single-digit interest for mortgages to curb corruption maintaining that most of the corrupt related cases have one thing or the other with housing.
He said: “The Federal Government should give the housing sector the deserved attention, and grant intervention fund as was done in aviation, agriculture, banking and recently film. At least 50 percent of all the recovered funds by EFCC should be channeled to the provision of affordable housing in all states of the federation. There is a need for a review of the National Housing Fund Act to increase the statutory contribution and level of participation.”
Wike insisted that ownership of a house is a right and urged more Public Private Partnership (PPP) collaboration between government and operators in the sector.
Calling on the government to be more committed to housing provision as a social responsibility, he insisted that the funds concerned remains the people’s money and should be used for their benefit. He called on both the Federal and state governments to be more committed to affordable housing delivery as a core social responsibility to all Nigerians through utilizing housing as a catalyst for economic development and arresting urban decay through effective housing delivery strategies.
He further called on the government to engage professionals in the housing delivery value chain, reduce cost through modern techniques and construction materials, build a robust mortgage system in Nigeria with single-digit interest rate regime.
According to him, this will tame crime through city regeneration and further check insurgency.
Source: The Nation newspaper
