The (covid-19) lockdown, which started like a windy climate, has apparently poured out a deluge.
With an extension, which seems like an endless fatalistic nightmare for many Nigerians, ever since the declaration was made, by President Muhammadu Buhari last week.
There’s been a vast assortment of effects, of the lockdown on various sectors and the economy at large
One of the sectors, jabbed by the scourge of this, is the real estate.
For over three weeks,the real estate business has been on lockdown,poignant indeed! as this is an integral part of any society.
You would agree, that housing should be made a priority,come rain,come shine, as people would definitely have a need to crawl into a shelter,at every sunset.
The covid-19,over and again, gives a mirror reflection on how important this is and should never be overlooked.
Perhaps,it’s a case of, embracing decapitation, to stop a headache,as the lockdown conspicuously freezes the enhancement of shelter creation and improvement of housing conditions,by means of buying and selling of property,which now seems crippled,as 90 percent of construction sites in Lagos and Abuja have been closed down.
These construction sites, breed jobs for thousands of artisans.
The dusty wind, further sinks us into a hazy seat, as we behold the difficulty and despair,faced by these artisans, who depend on daily wages, to put body and soul together and put something that looks like food,on the table.
We can literally touch their excruciating pain,as though a woman in labour,but the sour reality remains the bitter pill that has defiled a swallow.
On the other end of the pendulum, are the companies,who deal in the sales of building materials,an important thread in the weave, unfortunately, they’ve also been benched, like a docile player,in the game of football.
With a growing population of 200 million, making up the most populous African country,the houses become highly insufficient by the day,there’s a wide range of shortage of houses,
Over 108 million Nigerians are homeless, this suggests that at no point,should housing be sidelined as a matter of neccesity and urgency.
The lockdown also whispers a loud halt,to the operation of other institutions, that make closing the housing gap, possible.
The mortgage banks including the apex mortgage bank,The Federal Mortgage Bank, have shut their doors and even windows,this no doubt, has wrapped up the business of mortgage creation,which oozes a bad omen for the depleting housing sector.
The challenge of staff salaries,at this time,with no transactions, nothing gained also having to deal with rents,cost of maintenance…the list is endless and can be neck-breaking.
With the social distancing rule of the covid-19,all these ugly situations have indeed taken a real toll on the real estate terrain,only time will tell what becomes of this germane sector.
As many Nigerians even in this lockdown, still roam the streets homeless and can’t wait to have as little as a plank, over their head.
By Peace Anyanwu-Ogedengbe
