‘PPP Not Favourable To Social Housing Scheme’

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Public-Private Partnership (PPP) has been described as a policy that does not conform to the realisation of the goals of social housing scheme.

This is so because, the resort to PPP, in the provision of social housing scheme or community housing, has denied the targeted low income earners the opportunity of owning houses.

Making this known in an interview with The Tide in Port Harcourt, the General Manager, Rivers State Housing and Property Development Authority (RSHPDA), Architect I.S. Cookey-Gam stated that the Public Private |Partnership policy can not work in the realisation of social housing scheme.

According to him, private investors to a large extent will be very much interested on making profit, and would not want to tie his money down on a long term mortgage which is prevalent in the social housing scheme.

He described social housing scheme as a scheme which guarantees the mass provision of housing for the people at a very low cost and for a reasonable period of mortgage.

Architect Cookey-Gam maintained that to realise such vision, it will take the political goodwill of government to provide resources and enabling environment for the vision to be achieved.

The Rivers housing boss also added that majority of public servants need homes, but could not afford them, pointing out that it will take the commitment of government to provide the funds, land and other materials needed for the successful implementation of such scheme, so as to enable those at the low income level to own a home.

On how to recoup the fund, he stated that the beneficiaries will be made to repay such funds through their monthly salaries, and on a special mortgage system that will take a long period of time, so as to reduce the burden on beneficiaries.

Describing the PPP model as a policy that will guarantee housing provision for the high income class, Architect Cookey-Gam remarked that investors will invest on houses that will enable them recover their money fast and also make profit, which is out of reach of the low income class.