In a renewed push to alleviate housing challenges, the Federal Government has said that it is ready to explore tested strategies that have worked in other countries along with formulate new policies.
The Minister of Works & Housing, Babatunde Fashola, stated this at the Lafarge Africa’s Concrete Idea webinar series tagged: “PPPs in Urban Regeneration: Global Best Practices, Nigerian Opportunities”.
Nigeria is estimated to have over 17 million housing deficit and requires an estimated N59.5 trillion to fix it, according to experts.
Fashola stated that acute housing deficit all over the world is mainly an urban phenomenon, adding that historically, cities all over the world have partnered with private investors to transform slums, boost the stock of housing and provide economic opportunities to urban dwellers.
He stated: “Our government is committed to exploring tested strategies to alleviate Nigeria’s housing challenges. I have encountered very innovative ideas for partnerships with the private sector in the Concrete Ideas series. Being the Special Guest of Honour of Concrete Ideas for the third time underscores our commitment to working with the private sector to transform the recommendations from the discussions into concrete solutions towards alleviating the housing and infrastructure problems in Nigerian cities.”
Chairman of Lafarge Africa Plc, Prince Adebode Adefioye, in his opening remarks said, “Urban degeneration is a global challenge that can be solved through urban regeneration projects resulting in the advancement of socio-economic and technological development of economies including the creation of more efficient transportation systems, sustainable livelihoods, employment generation, foreign investment, and healthier citizens among others.
“We believe that through robust discussions and effective collaboration at all levels, we can transform our urban centers into vibrant communities that attract investments, generate jobs, boost productivity and power economic growth”.
Mr. Khaled El Dokani, Country Chief Executive Officer at Lafarge Africa, said: “More than 80% of global GDP is generated in cities. Making our cities more livable and more productive is thus one of the best strategies for growing our economies and improving the welfare of millions of our people”. He pointed out that the world’s greatest cities today were once marred by slums and urban regeneration projects have helped global cities attain their status.