Real estate expert and Chief Executive Officer of Dynamic Mayor Edge Nigeria Limited, Arc Dr. Olumayowa Olurishe, has emphasized the critical role of government policies in achieving the goal of affordable housing.
In an exclusive interview with Housing TV Africa, Olurishe highlighted the direct impact of governmental decisions, such as the minimum wage, on the accessibility of shelter for citizens. He stressed the importance of government intentionality in setting policies that facilitate affordable housing, noting that the minimum wage directly influences the number of people who can afford adequate shelter.
“Affordability starts from the point of the common man; what does he earn. Where to really tackle affordability starts from the minimum wage.
“For instance you look at other countries in the world, houses are not cheap.
What makes it affordable is the fact that what you earn can make you afford those houses,” he stated.
The seasoned real estate expert underscored the relativity of affordability, emphasizing that individuals’ earning capacity significantly determines whether housing is within reach or not. He advocated for comprehensive government policies aimed at improving affordability and ensuring that housing becomes accessible to a broader population.
“If government could look intentionally at the minimum wage, I think that will make affordability more liberal for people.
“Even if you put one bedroom at one million naira cost, for a whole lot of Nigerians, it’s not affordable for them. We need to go back to the table and look at what makes it affordable and that’s where I strongly believe it’s on the minimum wage. Make living affordable to people. When people earn better, they can afford housing,” Olurishe said.
