Housing will reduce Nigeria’s unemployment by 50% – Expert – Business

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A real estate expert, Festus Adebayo, advised the federal government to invest unclaimed dividends in the Pension Fund in the housing sector.

Adebayo believes that investing in the real estate sector will reduce the unemployment rate in Nigeria by fifty percent.

Addressing reporters in Abuja, a practicing lawyer and coordinator Housing Exhibition in Abuja noted that the real estate sector can improve the economic condition of Nigeria, if necessary attention is paid.

“If the government can focus on the housing sector, the unemployment rate in Nigeria will fall by no less than fifty percent,” Adebayo announced.

“We heard how he was distracted, if the money was placed in a dwelling, we call them idle means, there is an unclaimed dividend, in that it is stored, who uses it. They need to learn unclaimed dividends and use it for housing.

“In each residential area that you see, there are different categories of workers that you see; professionals, architect, land planning engineers. You will also need craftsmen like a carpenter. You will even see someone riding an okda. You will also see how women sell food for workers. Then, when you look at the impact of housing on the economy, you will also find that the effect multiplies.

“What we are saying here is that housing is a new way of developing the economy of Nigeria. In the past three years, when the Bukhari government came, I can tell you that in the housing sector there is not such a significant increase in productivity.

“We draw attention to the fact that there are laws in the National Assembly that are waiting for attention. If these laws are not passed, like the Land Use Act, which is still in the hands of the National Assembly, how do we work on these laws so that the problem of access to land and the mortgage problem can be solved? When we do not consider the land issue, we can never see an effective mortgage lending system in Nigeria ", he added.

ALSO READ: Over 100 exhibitors put on sale products and services in 2015 at the Abuja Housing Show

Speaking at the upcoming housing exhibition in Abuja, scheduled for July 16, 2018, at Abuja International Convention CenterAdebayo noted that this year's event, which is the 12th in this series, will bring together players from the World Bank, more than 250 exhibitors from about ten countries.

The 12th housing exhibition in Abuja, according to Adebayo, is expected to focus on refinancing mortgages and how Nigerians can use existing opportunities to own their homes.

This event, which is expected to focus on providing affordable housing for all Nigerians, will be announced open. Vice President Yemi Osinbajo,

Speaker Yakubu Dogara, other senior government officials and other senior officials are expected to decorate this event.

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