Fashola Proposes 3-Month Rent Collection by Landlords, Gives Reason

Fashola Proposes 3-Month Rent Collection by Landlords, Gives Reason

  • Works and housing minister, Babatunde Fashola, has said Nigeria does not have a housing deficit
  • Fashola said the housing problem in the country only exists in the urban centres, not the rural areas
  • To address one of the major problems in the housing sector, the minister recommended the collection of three-month rents

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FCT, Abuja - Babatunde Fashola, the minister of works and housing, has suggested the collection of three-month rent by landlords and property owners as against the collection of three years rent.

The Punch reported that the minister explained that collecting three years rent made housing unaffordable for Nigerians, especially those in urban centres.

Housing Deficit: Fashola Proposes 3-Month Rent Collection by Landlords, Gives Reason
Babatunde Fashola, minister of works and housing, says landlords and property owners should adopt 3-month rent. Photo credit: Babatunde Raji Fashola
Source: Facebook

Legit.ng gathers Fashola said this on Thursday, July 15, at the weekly State House Briefing in Aso Villa, Abuja.

Nigeria does not have 17 million housing deficit

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Insecurity holding down Nigeria's development, says Buhari

Meanwhile, Fashola also stated that Nigeria does not have a 17 million housing deficit contrary to what many people believe.

He said urbanisation and affordability have contributed to the housing shortages in places like Lagos, Abuja, Ibadan, Port Harcourt, amongst others, The Cable also reported.

His words:

“We are not in a housing crisis and this is a subject of a full discussion itself.
“The housing shortages that exist especially in all parts of the world are in the urban centres, not in the rural areas. It is a problem caused as a result of urbanisation where people move from rural to urban areas and then it creates a supply and demand problem."

Housing deficit: Fashola urges states to intervene

Fashola urged states to intervene in the management of rent, reiterating that it is inappropriate to ask people earning monthly salaries to pay three years rent.

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Insecurity a lucrative business in northern Nigeria, says Rufai

He noted that the state governments can intervene in the housing sector through the relevant legislation.

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Presidency approves N200 bn for national housing project

Earlier, Legit.ng reported that the presidency revealed its plan to fund a National Social Housing Programme (NSHP) to benefit not less than 1.5 million Nigerians.

In a statement made available to Legit.ng, the presidency said the federal government with the support of the ministry of finance, the federal government has finalised plans with the Central Bank of Nigeria to fund the massive project.

Speaking further on the project, Laolu Akande, the senior special assistant to the president on media and publicity in the office of Vice President Yemi Osinbajo, noted that the aim was to enable citizens to acquire low-cost houses through mortgage and also rent to own options.

Source: Legit.ng

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