Housing Stakeholders Call For More Funding


Stakeholders in the hous
ing sector have called for more funding to help stimulate the economy.
Managing Director/Chief Executive Officer, Brent Mortgage Bank Limited, Kola Abidal who made this statement at the launch of new mortgage products in Lagos, recently also said housing provision requires huge capital outlay, which is often beyond the capacity of the middle and low income groups, hence the need for adequate funding for the sector.
According to him, adequate housing provision have remained one of the three most important basic needs mankind explaining that millions of families are living under sub-optima’s conditions.
Also speaking at the launch, Stephen Obi, another stakeholder who is also a mortgage banker, described housing deficit as governments’ inability to house its citizenry properly.
He noted that bridging the housing deficit will create at least one million new jobs in the sector, calling for contributions by states and local governments through land donations, tax reduction and other related elements.
He said, “ the effort would stimulates the economy by pushing a lot of money into circulation. Every recessive economy needs a stimulus as we can see from around the world, money being spent at all levels at the same time will move the economics of buying and spending to revive the economy”.