‘Policy Inconsistency, Impediment To Housing SectorDev’

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A real estate consultant, Mr Chudi Ubosi yesterday attributed the slow pace of housing and construction development in the country to policy inconsistency.
Ubosi, the African President, International Real Estate Federation (FIABCI) made this known to newsmen in Lagos.
He said that although the housing sector had been known for contributing to the economic renaissance of many countries, unstable policies had been challenge in Nigeria.
.”Inconsistency of policies is the cause of poor urban governance being experienced in the country, which hindered growth of housing construction industry.
“It is unfortunately that in Nigeria, we have been experiencing governments that never accomplished what they set out to achieve.
“Policy inconsistency is unhealthy to the growth of any nation’s housing sector,” he said.
The FIABCI chief urged the Federal Government to adopt the strategies used by other developed nations to optimally provide accommodations for their citizens.
“Promoting security of tenure and policy is a prerequisite for sustainable improvement in housing and environmental conditions.
“Incumbent government should continue with the policies, projects and plans initiated by previous administrations because housing and construction projects are usually long-term projects.
“But in Nigeria, an administration will formulate a housing policy but will never accomplish it. Every administration comes in with its new policy.
“Generally, we believed in new projects which is good, but what matters is their completion and sustenance.
“The country has performed well by embarking on a lot of projects, but it failed to complement and sustain the projects due to policy instability.
“Until the Nigerian government adopts continuity of policies, the country may not record remarkable growth in the housing/construction sector,’’ he said.
Ubosi also urged the Federal Government to focus more on the development capital projects that would boost the economy and create chain of employment opportunities.
“The Federal Government and local authorities should design, adopt and implement pro-poor city development strategies and ensure sufficient availability of land for housing development,’’ he said.
He suggested that emerging economies like Nigeria should pool resources together to overcome the challenges confronting their housing sectors.