Housing corporations have been tasked on the needed strategic initiatives to become key players in affordable housing delivery on an unprecedented and sustainable scale in Nigeria.
Some of the strategic initiatives, according to the Founder/President, First World Communities Ltd, Brig. Gen. P.M.O. Reis (rtd), centred on the creation of an enabling environment, promotion of research and advocacy, development of business support, and the need to modernize for effectiveness.
Speaking on ‘Re-defining Housing Corporations For Solving The Housing Deficit in Nigeria’, during the 6th International Conference of the Association of Housing Corporations of Nigeria (AHCN) in Lagos, Reis, who was one of the guest speakers, urged them to develop a vision of the future, reposition and promote housing corporations.
As part of enabling environment creation, he urged the group to develop and promote new models for delivering affordable world-class homes and improving existing homes.
“Improve political interest and support for housing to ensure that it features prominently in election manifestos.
“Influence the allocation of resources to housing in state and federal budgets; build public support for house building,” he said.
Reis also urged them to promote, through research, education, forums, and other appropriate means, the development of housing units. He called for the establishment of standards for the operation of housing corporations that will assure maximum long-term benefits to customers and sustain corporations.
He said: “Research and highlight the implications of the sale of Federal Government’s properties and low fiscal allocation on housing corporations
“Ensure employment and skills programmes can be accessed and delivered by housing corporations; influence state and federal budget allocations and election manifestos;
demonstrate the socio-economic value and impact of housing corporations.”
He said: “Secure asset management flexibility for housing corporations; influence financial standards and fiscal policy; support effective governance and influence future regulatory legislation or policy; promote the viability and effectiveness of housing corporations.
“Develop for adoption by all members, National House Building Standards, and home insurance products. Map the emergence of a wider range of networks of funders and stakeholders, and promote the highest ethics in the development and management of housing estates.”
Reis enjoined AHCN to explore new ways to work together to achieve better impact, urging housing corporations to conduct and implement a comprehensive business strategy review, and manage assets and resources more efficiently.
“Deliver improved digital content, information management, and information governance approaches. Develop the capacity and capability of staff and show appreciation for their contribution,” he said.
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The First World Communities boss listed affordability issues, lack of data,
end users segmentation, land title registration, inadequate infrastructure beyond Central Business Districts (CBDs) and inefficient construction methods as impediments to affordable housing delivery in Nigeria.
According to him, the four pillars of affordable housing delivery are data, end-user segmentation, enabling regulation and policies, and affordable gap funding.
He pointed out that accurate data is required to properly identify the problem, adding that housing demand must be properly segmented to cater to the segments in need: middle and high-income classes, low-income groups, and no-income cadres.
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