By correspondent in Ilorin.
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on the federal government to focus on social housing programs as part of measures to cushion the effects of oil subsidies on average Nigerians.
Speaking at the opening session of the 53rd Annual Conference of the institution in Ilorin on Monday, the President of the NIESV, Johnbull Osarumen Amayaevbo, said that
industry practitioners were already anticipating defaults in payment and renewal of rents by tenants, either for commercial or residential accommodation.
The NIESV president said that housing and infrastructure development must be promptly addressed, with the government partnering with the private sector and the professionals to draw up a housing program and implement the same to the letter.
The NIESV boss, who noted that the time has come for the new government to focus on Social Housing said that government, should in the interim, introduce comprehensive incentives and palliatives to cushion the effects of the deregulation of fuel on the poor and average Nigerians.
"Prices of goods and services have gone up and rents would respond accordingly. Meanwhile, inflation is biting with prices of goods and services skyrocketing.
"Critical sectors of the economy are already feeling the impact though expected to subside in the months ahead. Take the real estate sector for instance. That removal of subsidy would adversely affect the industry and aggravate the already huge housing deficit is an understatement.
" High cost of fuel has led to increasing in transport fare and would definitely cause building material prices to shoot up, simply because producers of these materials rely largely on petroleum for energy, and electricity supply is not yet stable. The cost of taking materials to sites has also increased. These would
have consequences on both rent and capital value, affordability, housing delivery, and house gap.
"Industry practitioners are already anticipating defaults in payment and renewal of rents, either for commercial or residential accommodation", he said.
Mr. Amayaevbo, who, however, said that there were huge benefits of subsidy removal to the economy, added that "if sincerely implemented, the long-term benefits are huge and worth the pains and sacrifices of the moment".
He also said that expectations of Nigerians from the Tinubu administration are high, adding that the NIESV would continue to spearhead policy frameworks on
housing delivery and infrastructure
development
"We call on the Federal government to focus and tackle headlong economic issues and those bordering on national unity, such as corruption, insecurity and armed conflict, food security, youth empowerment, and several others.
"Extremely important for the government to address, which we would engage it more seriously, is the issue of housing and infrastructure development.
"There is an urgent need to address
housing challenge in the country and plan for future housing delivery. The vital role of housing in healthy living, security, and social well-being calls for a concerted and pragmatic approach at this point.
"Federal government should as a matter of necessity make housing a deliberate program and set up a robust agenda for housing delivery that must put in place proper institutional framework, cutting across all levels of government, Local, State and Federal, private sector-driven mortgage system with full government support in terms of policy and regulatory functions".
Edited by Dada Ahmed.
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