Buhari directs APC states to build 250,000 housing units per year, another 250,000 units by FG too

Speaking on Monday, at the opening session of the National Economic Council Retreat on the economy at the State House Conference Centre, Abuja, he invited foreign investors and local construction companies to join the country to cover its housing deficit.

He said: “Some estimates put Nigeria’s housing deficit at about 16 million units. In our successful campaign to win the general election last year our party, the APC, promised to build a million housing units a year. This will turn out to be a very tall order unless:

“The Federal Government builds 250,000 units. The 22 APC states together manage another 250,000 units.

“We invite foreign investors together with local domiciled big construction companies to enter into commercial housing building to pick up the rest.”

The president identified the concerns of Nigerians regarding housing sector to include severe shortage of housing, high rents, unaffordable prices for prospective buyers, especially middle and low-income earners.

He added: “In addition, red tape, corruption and plain public service inefficiency lead to long delays in obtaining ownership of title documents.

“Again, there are no longterm funding sources for mortgage purposes.

“These hurdles are by no means easy to scale, but we must find solutions to the housing deficit. This retreat might start by looking at the laws.”

Speaking on the poor power situation in the country, Buhari observed that it had become the subject of jokes of Nigerians, as he gave a target of 10,000 megawatts to be achieved in the three years remaining for his administration.

According to him, “Nigerians’ favourite talking point and butt of jokes is the power situation in our country, but ladies and gentlemen, it is no longer a laughing matter.

“We must and by the grace of God we will put things right. In the three years left for this administration, we have given ourselves the target of 10,000 megawatts distributable power. In 2016 alone, we intend to add 2,000 megawatts to the national grid.”

He noted that despite the privatisation of the power sector, not much had been achieved in terms of performance as the old problems had remained.

Buhari also spoke on the situations in agriculture, manufacturing and health sectors, noting that today, both the peasant and the mechanised farmers agreed with the general public that food production and self-sufficiency required urgent government action. (Nigerian Tribune)