The General Manager of Rivers State Housing and Property Development Authority (RSHPDA), Architect I.S. Cookey- Gam, has called on the page of bills on housing development and Pension Fund reform.
Speaking in a chat with The Tide in Port Harcourt, Architect Cookey Gam reiterated that the issue of access to funds in the form of mortgage has remained a major problem in housing development in Nigeria.
He said that the money generated through pension fund over the years have not been actually put to proper use, such that will give greater value to contributors in the area of housing development, hence the need to have a reform in the administration of pension fund.
The RSHPDA boss posited that the pension fund will not make meaningful impact to pensioners and contributors until it is channeled to mortgage for development of housing in the country.
According to him “when once there is a law compelling pension funds managers to channel the fund to housing development, a major problem has been solved in he housing sector
Architect Cookey Gam also stated that the quest to meet the high demand for housing across the country, might be lingering when funds are not available for housing, but that with pension funds provided, a lot will be achieved.
He however expressed dissatisfaction over delay in the passage of numerous bills relating to housing at the National Assembly, and urged federal lawmakers to expedite action in he passage of the bills.