The Minister of Works and Housing, Babatunde Fashola has stated that there is an enormous potential in housing sector for Nigeria if all pressing concerns are addressed.
He revealed this through a representative while speaking at the real estate stakeholders’ engagement forum organized by Lagos state estate agency regulatory authority on Wednesday in Lagos.
‘’Housing, apart from being one of the major needs of man holds great potentials for the economic development of Lagos state and Nigeria at large. It therefore behooves on all of us to ensure that the art of practice of housing delivery in all ramifications are advanced for the benefit of the teeming population seeking shelter on a daily basis,’’ he said.
He said the ministry of Works and Housing is working hard to perform its regulatory roles and ensure that due processes are followed in all matters and activities relating to the housing sector.
He said ‘’part of the mandate of my ministry is the regulation of professional bodies in the built environment. In this regard we are working with and supporting the regulation of the sector activities through the various regulatory boards to achieve high professional standards in all areas of practice.’’
He also mentioned that the Ministry is leading the way in the adoption of innovation and technology in the sector.
‘’We have also tried to improve the sector by deploying technology to enhance service delivery. For instance, the ministry will soon commence the sale of housing units developed under the national housing program nationwide through online subscriptions. This will ensure for transparency and reduce human interference to the barest possible minimum,’’ he said.
The minister also urged state government to release lands for the federal government pilot national housing programme scheme.
On the challenges faced by those seeking title registration in Nigeria, the minister admitted that a lot more needs to be done to ensure accelerated issuance of titles on lands.
He encouraged stakeholders at the event to thoroughly interrogate all the issues troubling the sector and commit themselves to institutionalizing and entrenching outcomes with a view to developing a transparent, resilient and dependable property market and business environment that is consistent with global best practices.
