Merging power, works and housing ministries was a mistake - Expert tells Buhari
Business & Economy section is provided to you by — #1 Nigerian online marketplace
Visit website

Merging power, works and housing ministries was a mistake - Expert tells Buhari

- The fact that power, works and housing are under one ministry has been described as a mistake which President Muhammadu Buhari must fix

- In his recommendation, Barrister Festus Adebayo, the head of Housing Development Advocacy Network, said that President Buhari should separate the sub-sectors

- He said that the separation of the sub-sectors will bring about effective service and positive delivery for all Nigerians

In the bid for efficacy and positive delivery, Barrister Festus Adebayo, a guru in Built Industry who is also the head of Housing Development Advocacy Network‎, has advised President Muhammadu Buhari to separate the ministry of Power, Works and Housing.

READ ALSO: upgrades to a letter from our Editor-in-Chief Bayo Olupohunda

Adebayo said that President Buhari's second term his administration should address these key sub-sectors quickly if he wants Nigerians to benefit from his Next Level agenda, adding that merging three of them was a mistake, Vanguard reports.

He said: “President Muhammadu Buhari must as a matter of urgency split the Ministry of Power, Works and Housing. The merger is not working. Where is the power?

"The need to separate the Ministry of Housing from Power cannot be over-emphasized so that there can be a focus, a high level of concentration, to solve at the ‘Next Level’, the problem of power.

"President Buhari must use housing to drive the economy. That should be his concentration in this second term.”

However, he praised the federal government for dealing with housing deficit by introducing the Family Housing Funds (FHF), which very well addresses the plight of poverty-stricken Nigerians in the area of housing.

Although Adebayo admitted that the scheme is still growing, it has already delivered 700 housing units in Masaka, Nasarawa which is close to Abuja.

Adebayo said: “The take off of Family Homes Fund is something that is very recent but within its first six months, FHF has successfully financed a project in Masaka, Nasarawa state. They call it LOV 1, LOV 2 and each of them has 350 units.

"Meaning 700 houses have already been delivered. The highest cost of the house is N4.5 million, meaning the one bedroom is within the range of N2 million, 2 bedroom N2.5 million, 3 bedroom 3.5 million. You only pay 50 per cent and the other 50 per cent will be acquired through mortgage.

“Apart from the one in Masaka, Family Homes Fund is already building in Kano, Lagos, Kaduna, Delta, Ogun and about 13 states. It is established to have presence in all six geo-political zones plus Abuja. The only good thing I have seen in Buhari’s government is Family Homes Fund,”

“The difference between the National Housing Programmes where the Minister has been building houses ‎in all the states of the federation and family homes fund is affordability. It is not on ground to duplicate‎ what the FMBN is doing but to complement it.

"The area that FMBN cannot reach, then, the Family Homes Fund comes in,” Adebayo said. He called for political will on the part of the Buhari administration in order to tackle housing deficit in the country, noting that the political will would bring strong implementation that would arrest the issue of housing deficit.

PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7. Spend less on the Internet!

“Political will is what made the government to say do not give loans of agriculture on double-digit interest rate, an order from CBN to all commercial banks. So, if the government of Nigeria has the political will, the CBN will come up with a policy that will direct banks to give a certain percentage of loan for housing and it must not go beyond one digit interest rate.”

Meanwhile, reported that the national leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, on Thursday, March 28, called on the federal government to shelve its plan to increase the Value Added Tax (VAT).

Tinubu, who spoke at the 11th Bola Tinubu Colloquium to mark his 67th birthday in Abuja, said the increase would amount to taxing ordinary men in the country. ( -> Same great journalism, upgraded for better service!

Nigerians set 2nd term agenda for President Buhari | Legit TV

Source: Legit

Mailfire view pixel