Lagos: A Professor of Sociology, Lai Olurode, has urged the Federal Government to reconsider its decision to revoke housing allocations from 1,357 Nigerians across 33 states due to payment defaults. Olurode, a former Dean, Faculty of Social Science, University of Lagos, highlighted the socio-economic impact of such cancellation during an interview.
According to News Agency of Nigeria, Olurode called on the government to provide more time for the affected individuals to make their payments. He argued that private investment in housing remains weak, and many Nigerians do not earn enough to purchase land. The country faces a housing deficit of approximately 28 million units, and many existing homes lack basic amenities, making them uninhabitable.
The professor expressed concern that the revocation of housing allocations would exacerbate the already critical housing situation, resulting in lost opportunities for the individuals involved. He estimated that addressing the national housing deficit would require at least N31 trillion and warned that cancellation, coupled with poor housing conditions and population growth, could increase homelessness.
Olurode also pointed out the limitations of the National Housing Fund, noting it primarily benefits those in formal employment. He advocated for stronger public-private partnerships to tackle housing issues and criticized high interest rates that deter private investment. He emphasized that only a small percentage of Nigerians can afford housing, and a shortage could lead to overcrowding and related social issues.
He highlighted the challenges Nigerians face in acquiring land due to speculation and land title issues, even in rural areas. He urged the government to encourage private sector participation through incentives and explore alternative payment structures for housing, such as long-term payments leading to ownership.
Olurode stressed the importance of viewing housing as a social necessity rather than a commercial venture and suggested government subsidies. He advocated for the promotion of cooperative housing societies to facilitate home ownership and called for improved salaries to enable more workers to afford decent housing.