February 21, 2019
Real Estate

Private sector needed in housing market – Minister

The Federal Government has said it will continue to encourage the organized private sector and development partners in Nigeria and abroad to invest in the country’s housing market in view of its viable and enormous potential.

The Minister of State for Power, Works and Housing, Mr. Suleiman Zarma said this at the 2nd Real Estate Development Association of Nigeria (REDAN) Building Expo in Abuja.

The minister said the present administration has demonstrated commitment and will sustain partnership with the private sector towards the full realization of the National Housing Policy which places emphasis on private sector driven housing delivery.

He said funds are regularly provided in the budget to guarantee effective collaboration with contractors for housing delivery across the country.

The minister commended REDAN for organizing the Expo, stating that the organized private sector was not only heeding the call by government for close collaboration in addressing the housing challenges but also taking the lead in doing so.

President of REDAN, Rev Ugochukwu Chime said the main thrust of the Build Expo was to, “further enunciate to stakeholders the essence of collaboration to upscale the real estate and housing sector of the Nigerian economy”.

He said the bane of the sector has been the unarticulated and individualistic effort which produce insignificant results to change the expected momentum Nigerians desire.

“Housing is no more about providing shelter, it is now a veritable tool for employment generation, inclusive economic growth and fulcrum to reversing economic downturn in most climes,” he said, adding that it was the engine of growth that propels development.

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