Tinubu is asked to oversee the housing project with 100,000 apartments.
The CEO of Pelican Valley Nigeria Limited, Babatunde Adeyemo, has pleaded with President Bola Tinubu to guarantee close oversight of the proposed 100,000-unit housing project across the country as he marks his first anniversary in office this week.
According to Adeyemo, the Federal Government ought to keep an eye out for respectable real estate companies that could help the President realize his goals and provide high-quality homes for Nigerians.
He called the housing initiatives, which would receive a staggering N126.5 billion in funding, commendable and said they would significantly boost national development, revitalize the economy, and assist close the nation’s nearly 20 million-house shortfall.
In a statement released on Sunday, Adeyemo revealed this while participating in the monthly “Meet the Guest” media interactive session hosted by the Consolidated Chapel of the Ogun State Council of Nigeria Union of Journalists.
The head of Pelican Valley Estate praised Tinubu for his administration’s commitment to meeting Nigerians’ housing requirements and called the 100,000 housing units that are planned for the country one of the best things that Nigeria has ever seen.
“One of the best things that has ever happened to Nigeria is the 100,000 housing project,” he said, “because many of the previous administrations did not put funds into the real estate industry.”
“N126.5 billion was made available by the current government to finance homes across the nation. That is a fantastic development, in my opinion. If the 100,000 units are effectively overseen and implemented, the nation’s housing deficit will be lessened.
“It is imperative that the federal government find ways to appoint individuals with integrity, those with track records of accomplishment, to oversee this project.”
Other News
- REDAN promises to make home market reports accessible
- Only 2,439 housing units can be delivered by Nigeria in its 2024 housing allocation.
- Stakeholders: A growing population will increase demand for homes
- Kaduna’s Bold Vision: 10,000 Homes to Transform Communities
“We have seen it before, so it is very important,” he continued. Due to a lack of oversight, the majority of governments that previously invested in the real estate industry did not yield any noticeable returns.
Therefore, I humbly ask President Bola Ahmed Tinubu to oversee this housing project with a very capable monitoring team, professionals with solid backgrounds, individuals who can deliver, and people with excellent moral standards.
“This is crucial because, in the end, everything goes to waste if those in charge of the project have low moral standards.”
He claimed that by working with reputable private developers, governments at all levels could efficiently address the housing crisis.
He claimed that this could be accomplished by giving developers access to land and a single-digit credit facility so they could create reasonably priced homes for Nigerians.
He said private developers are necessary to support government efforts in providing cheap housing for Nigerians, especially those in the lower and middle classes. The government cannot accomplish this on its own.
“By providing us with land and enabling a single-digit credit facility to build affordable housing for Nigerians, the federal government can also support developers like us,” Adeyemo stated.
The CEO of Pelican Valley was named as a founding member and a crucial stakeholder of the Consolidated Chapel of the Ogun State Council of Nigeria Union of Journalists, by Com. Pelumi Olukoga, who spoke earlier.
