Housing heavyweight, Femi Adewole has called for a revamp of assumptions in the housing industry, if the sector is to experience rapid growth. He said the current housing market architecture is not ideal, therefore, cannot deliver the type of houses Nigerians yearn for.
Adewole, a former Managing Director of Family Homes Fund Limited (FHFL) said for there to be a headway on improving housing conditions in the country, there must be a change of assumption around the sector.
“We currently have a housing market architecture that is not ideal to deliver houses for many Nigerians, he said.
“The current architecture and structure of our housing market cannot deliver the kind of results that we want. Therefore, there’s a need to change some of our assumptions around (on) how the housing market should work, if we are to see very different results.
“Doing the same thing over and over again, you don’t expect a different result, Mr. Adewole said.
Highlighting several housing conferences that are held every year in the country, he said not much has been achieved in the industry. More Nigerians still lack affordable housing.
“Inspite of many conferences, about eight of them held this year, more Nigerians still lack access to decent affordable housing, Adewole continued.
“This is because, we are not building the kind of houses that people can afford. We must engage in large scale housing programs that meet the needs of Nigerians.
“Whereas, the government is doing a lot in terms of initiatives, the last twenty or thirty years are not really sufficient. We must do something genuine and for me, that’s the key message so that the lack of decent affordable housing does not degenerate into an outright crisis”.
