Although the government's housing policy is primarily
aimed at providing opportunities and infrastructures for citizens to
own decent accommodation (flats, bungalows and quarters) without tears,
the counterpart or incidence of this laudable programme is creation of
job opportunities in the building and construction industry. As a keen
and interested observer I want to critically consider the reality and
the implications to the stakeholders and specially the youth and the
middle-income group targeted by this policy
According to the Finance Minister and Coordinator of the economy, Dr. Ngozi Okonjo-Iweala, Federal Government's housing policy creates jobs through synergy among stakeholders in the industry and with government. Explaining further, she said that the delivery of a housing unit creates 5 direct and 25 indirect jobs. Therefore a successful delivery of 10,000 new house owners or mortgage beneficiaries at the end of 2014 should provide at least 75, 000 jobs.
There is no doubt that the priority of modern government's across the globe is tackling head on the issue of shelter deficit especially in cities, where mortgages and houses have become luxuries affordable only by the rich and affluent. Even if we have to take the ratio of employment creation with a pinch of salt, no one can deny the fact that housing concerns the youth in all its ramifications. They are seriously involved and actively participate in building and construction processes culminating in housing delivery. They are also eligible; indeed their percentage compared to other groups are highest applying for these built houses through mortgage institutions. One of the reasons why it is so, is because the repayment period takes the entire working life of 30 years. So it is difficult to find those in the middle of their working life or near retirement to apply for the facility. So essentially housing scheme benefits the unemployed youth and those that have secured employment and wish to access the facility. Therefore it is not impossible to find a young school leaver or graduate moving into a bedroom flat or duplex within one year of employment, Keke NAPEP or entrepreneurial activities.
Other efforts of the Government to create employment for the teeming unemployed youth include Youth Enterprise with Innovation in Nigeria (You WIN) aimed at creating about 110,000 independent entrepreneurs in 4 years.
Perhaps in keeping with the public/private participation policy of the Federal Government, NLC partnered with Kriston Hally EPC (Nig) Limited, a private estate developers to provide 600,000 units of residential buildings for workers across 36 States and the Federal Capital Territory by end of 2014 (Agreement of 6th April 2013 NLC Vice President, Mr. Promise Adewusi signed on behalf of NLC while Mr. Mustapha Madawaki signed for the developer company)
NLC was reported to have similar arrangement with FMB and NECA (Nigeria Employers' Consultative Association.
Job creation is a continual phenomenon. Research is very critical to development; to that end various efforts made through workshops, exhibitions and conferences combine to produce more jobs in the housing industry. One such conference is the two-day conference holding from 17th - 18th July 2014 on Real-estate investment in UK, programmed by Global Homes Magazine in conjunction with Nigerian Housing Circuit Magazine. The exercise is to create awareness and instant opportunities in real estate and mortgage financiers, investors and institutions in Nigeria and UK with a view to gaining expert insight into new market trends in real estate sector of the UK and Nigeria, as well as exchanging practical experiences in the business.
Undoubtedly, the forum would be a veritable tool for investors, stakeholders in real estate to network and rub minds on all business opportunities incidental to estate development.
Earlier another conference, World Urban Forum had concluded in Columbia. It was attended by stakeholders including Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakewyi.
Iyke Ozemena Corporate Attorney/Consultant, Author:
According to the Finance Minister and Coordinator of the economy, Dr. Ngozi Okonjo-Iweala, Federal Government's housing policy creates jobs through synergy among stakeholders in the industry and with government. Explaining further, she said that the delivery of a housing unit creates 5 direct and 25 indirect jobs. Therefore a successful delivery of 10,000 new house owners or mortgage beneficiaries at the end of 2014 should provide at least 75, 000 jobs.
There is no doubt that the priority of modern government's across the globe is tackling head on the issue of shelter deficit especially in cities, where mortgages and houses have become luxuries affordable only by the rich and affluent. Even if we have to take the ratio of employment creation with a pinch of salt, no one can deny the fact that housing concerns the youth in all its ramifications. They are seriously involved and actively participate in building and construction processes culminating in housing delivery. They are also eligible; indeed their percentage compared to other groups are highest applying for these built houses through mortgage institutions. One of the reasons why it is so, is because the repayment period takes the entire working life of 30 years. So it is difficult to find those in the middle of their working life or near retirement to apply for the facility. So essentially housing scheme benefits the unemployed youth and those that have secured employment and wish to access the facility. Therefore it is not impossible to find a young school leaver or graduate moving into a bedroom flat or duplex within one year of employment, Keke NAPEP or entrepreneurial activities.
Other efforts of the Government to create employment for the teeming unemployed youth include Youth Enterprise with Innovation in Nigeria (You WIN) aimed at creating about 110,000 independent entrepreneurs in 4 years.
Perhaps in keeping with the public/private participation policy of the Federal Government, NLC partnered with Kriston Hally EPC (Nig) Limited, a private estate developers to provide 600,000 units of residential buildings for workers across 36 States and the Federal Capital Territory by end of 2014 (Agreement of 6th April 2013 NLC Vice President, Mr. Promise Adewusi signed on behalf of NLC while Mr. Mustapha Madawaki signed for the developer company)
NLC was reported to have similar arrangement with FMB and NECA (Nigeria Employers' Consultative Association.
Job creation is a continual phenomenon. Research is very critical to development; to that end various efforts made through workshops, exhibitions and conferences combine to produce more jobs in the housing industry. One such conference is the two-day conference holding from 17th - 18th July 2014 on Real-estate investment in UK, programmed by Global Homes Magazine in conjunction with Nigerian Housing Circuit Magazine. The exercise is to create awareness and instant opportunities in real estate and mortgage financiers, investors and institutions in Nigeria and UK with a view to gaining expert insight into new market trends in real estate sector of the UK and Nigeria, as well as exchanging practical experiences in the business.
Undoubtedly, the forum would be a veritable tool for investors, stakeholders in real estate to network and rub minds on all business opportunities incidental to estate development.
Earlier another conference, World Urban Forum had concluded in Columbia. It was attended by stakeholders including Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakewyi.
Iyke Ozemena Corporate Attorney/Consultant, Author:
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