Olalere: Despite Governments’ Interventions, Housing Deficit Gap Still Huge

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Omowunmi Olalere

Ayodeji Ake

The Chief Executive Officer, Numero Homes Global Resources, Mrs. Omowunmi Olalere, has pointed out that despite the federal government’s efforts to bridge the housing deficit gap across the country, a lot of Nigerians still do not have access to decent homes.

Addressing newsmen at the at the recent grand opening of Green Ivy Estate in Lagos, Olalere noted the government has established enough schemes for affordable housing units but the major problem remains access to information.

She said: “As it is now the housing deficit in Nigeria is above 22 million which also means they do not have access to decent homes. The government has actually set out different platforms of programs to bridge the housing gap such as: Lagos Homes, National housing funds, yet there are still insufficient to bridge the gap of housing deficit but what Numero Homes has set out is that we have found out that the major challenge is information. Most people do not have access to government own initiative and other real estate benefits.

“We have set out four Numero Homes special packages called: Individual Advantage, Friends Advantage, Couples Advantage and Business Advantage. The Friends Advantage simply means friends pulling funds together to acquire a property, this has proven that we also encourage working as a team.”

Olalere disclosed that while funding remains an unavoidable challenge in the real estate business, Numero Homes is projecting over 10,000 housing units across the country in the next five with affordable payment schemes with the support of partnership and investors.
“Our first project is coming up in Mowe, Ogun state and we are looking at doing about 200 units and in the next five years we are looking at doing over 10,000 housing units across Nigeria. We are looking at all the prime cities.

“Funding is an issue but the government has put up initiatives people can easily access, what we need to do is to get the necessary documentation and get access. We are also looking forward to investors. I belong to a network whereby individuals can also invest their money.
“At the moment we don’t have any partnership with the bank but as it goes we might have to partner with mortgage bank,” she said.