Login Register
feel free to call 09056000005

FG urged to declare state of emergency in housing sector

The Housing Development Advocacy Network (HDAN) has urged the Federal Government to declare a state of emergency in the real estate sector due to the escalating housing crisis in the country.
This appeal follows the recent discovery by the Lagos State Government of makeshift apartments under the Dolphin Estate Bridge in Ikoyi, Lagos.
 
Stocks is the best option to invest. Where to Invest concept, Investmets newspaper with loupe and marker. stock photo
 
In a statement, HDAN called on President Tinubu's administration to adopt a more pragmatic approach to the nation's housing issues. The group highlighted that these under-bridge apartments consist of 86 partitioned rooms, measuring '10×10 and 12×10' feet each, with occupants paying an average annual rent of N250,000. HDAN emphasized that this situation reflects the broader housing deficit in Nigeria.
 
HDAN pointed out that the economic downturn has intensified the housing crisis, forcing citizens to endure harsh living conditions. The group also criticized the numerous bureaucratic obstacles that estate developers face when seeking building approvals, including multiple payments that hinder the provision of affordable housing. This, HDAN suggested, leads many developers to resort to evasive measures to cut costs.
 
HDAN urged the Lagos State government to create a more supportive environment for estate developers. The organization stressed that the fact that people are now living under bridges starkly illustrates the country's severe poverty and housing challenges. HDAN called for urgent government intervention to address this crisis and ensure citizens have access to decent living conditions.
 
Source: PunchNG

Similar Topics

The Federal Government has expanded the Abuja-Kaduna-Kano Road project to incorporate a direct...

a day ago Read More

The Federal Capital Territory Administration (FCTA) has taken possession of Wadata Plaza, the...

9 days ago Read More

Defaulters on FCT ground rent now have 14 days grace to pay up what they owe the FCT Administration...

9 days ago Read More

Unprofessional practices by estate agents in major cities are significantly influencing the spike...

23 days ago Read More

A Real estate development firm, Lifecard International Investment Company, has revealed that many...

a month ago Read More

Despite a fall in investment volumes from the 2021 peak, there is an ongoing desire for property...

a month ago Read More

The Lagos State government has advised the leadership of the Nigerian Institution of Estate...

a month ago Read More

Real estate market dynamics such as construction cost, land, finance, government policies and taxes...

a month ago Read More

Event Set to Celebrate Managers Who Shape Careers and Drive Organizational Growth   Business...

2 months ago Read More

Global Leaders to Converge in Lagos for Landmark Event Driving Urban Innovation and...

2 months ago Read More

In a bold move to redefine affordable luxury housing, Nigerian real estate giant Gtext Holdings has...

2 months ago Read More

Industry Experts Urge Anti-Corruption Measures, Innovative Financing to Address Crisis By: Oche...

3 months ago Read More

LAGOS, NIGERIA – Global real estate consultancy Knight Frank and UK developer Mount Anvil...

3 months ago Read More

By Oche Onum Lagos, Nigeria As Nigeria’s real estate sector braces for 2025, rapid...

3 months ago Read More

By Oche Onum Abuja, Nigeria In a landmark move to combat climate vulnerabilities in urban...

3 months ago Read More

LAGOS, NIGERIA The Federal Government announced plans Wednesday to establish a Real Estate...

3 months ago Read More

According to The Guardian's investigation, 70% of Nigerian states rely on manual land...

3 months ago Read More

What is the Initiative? The Federal Government of Nigeria has unveiled an N100 billion private...

3 months ago Read More

Abuja, Nigeria’s gleaming administrative capital, has long symbolized hope for migrants...

3 months ago Read More

Abuja, Nigeria The Federal Housing Authority (FHA) has suspended all ongoing construction projects...

4 months ago Read More