Kingsley U.N. Chikwendu —
Senator Tolulope Odebiyi yesterday at the African International Housing Show in Abuja, the Nigerian capital acknowledged concern on the impact of the inflationary environment experienced in the country on the housing sector.
He said it’s not a hidden knowledge that it would affect negatively, mortgage activities in the country.
Odebiyi who is also the sponsor of the bill at the National Assembly, seeking the establishment of the Chartered Institute of Mortgage Bankers and Brokers of Nigeria, further added that statistics revealed that less than ten percent of workers in the country earn more than sixty thousand naira monthly, a situation he acknowledged is a “very disturbing statistics”.
He called on lawmakers in the country to see it as an onus on them to create a more enabling environment, increase in wages of workers to give them opportunities of becoming home buyers.
“I shared with a friend of mine now that some of the concerns that I’ve had especially, is the impact of the inflationary environment that we’ve had now on the housing sector because I know that is going to impact negatively on mortgages, Odebiyi began.
“I saw some statistics that disturbed me a bit showed that ten percent of workers – public and private earn more than sixty thousand naira, a month. I repeat, less than ten percent of workers, both private and public earn more than sixty thousand naira, a month.
“That is a very disturbing statistics and I think for us as legislators, the onus is on us to create more enabling environment, increase the wages of workers to give them the opportunity and ability to be first time home buyers and all that would be able to make them earn a decent living.
“These are the kind of things we want to ensure that the macroeconomic environment is there for them to be able to afford housing”, he stated.