Don Charts Path For Housing Dev.

To provide affordable houses for Nigerians, Prof. Abel Olorunnisola, the Dean of the Postgraduate School, University of Ibadan, has urged the Federal Government to restructure the Federal Housing Authority (FHA).

Olorunnisola, who made the call in Ibadan while delivering the 18th annual Arokodare Memorial Lecture, said a total take over of the FHA by government would ensure that mortgage insurance facilities were made available to the populace.

The lecture entitled, “Looking Beyond the Challenges of Affordable Housing Development in Nigeria – Capitalising on the Engineering Opportunities,’’ was organised by the Nigerian Society of Engineers (NSE).

Olorunisola said that it was an anomaly for government to take on the responsibility of building houses in view of the past experience.

He also said there was the need for the Federal Mortgage Bank of Nigeria to pool insured mortgage and sell same in the capital market in order to provide liquidity.

The don said that a large percentage of urban dwellers in the country were currently groaning under the weight of unfettered agglomeration.

Olorunisola, who is also the immediate past chairman of the Ibadan NSE, urged government to devise ways of reducing property fees paid by families at the lower strata of the income ladder.

“ It is important that government provides mortgage insurance to first-time home buyers and to low and middle income families.

“The three tiers of government must take seriously the issue of providing primary infrastructure. It should not be a developer’s responsibility.

“The capital market can be a good source of providing long-term funds through the issuance of bonds and other financial instruments to finance infrastructure projects,’’ he said.

He urged Nigerian engineers to engage in more research on the use of locally available materials for the production of non-conventional building materials.