Expert Wants Deployment Of Pension Funds

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A building and con
struction expert and Chief Executive  Officer, CSC Property and Estate Managers, Dr Atagume Peters, has called for the deployment of the growing pension funds in housing development.
Peters made this call at an event organized by Rotary Club of Port Harcourt  Garden City, Rotary International, District 9140, Nigeria, on Sunday.
He asserted that taking into consideration  the capacity of the workforce in Nigeria, participating in contributory pensions, the funds  should be nothing less than N51 trillion (fifty one trillion naira), which he said could be profitably invested in housing, saying the  amount  needed to bridge  a housing deficit of 700,000 units.
He noted that property is a stable investment, “if you invest in property there is no fear that you would lose your investment, it is the most stable investment I know”.
He further said, “when the Pension Reform Act was reviewed in 2014, and provided opportunities for increased investments in infrastructure and housing  development and expressed optimism  that the present administration would understand the need for the pension fund in housing development.
He expressed the hope that the matter of bridging  the housing  deficit experienced  in the country would be treated with a holistic  approach with interventions through policy  making and political will.
He added that if pension fund  is well directed, it could  be the solution to the country’s housing  needs, while providing a secure investment and job opportunities.

 

Tonye Nria-Dappa