Naomi Gabriel —
Managing Director of Quantum Business School in Port Harcourt, Mrs. Josephine Itonyo, has asked the government at all levels and investors to come up with urgent strategic plans to prevent the already bad situation in the housing sector from degenerating.
She also warned that the flood ravaging the country could worsen the housing deficit in the country.
Speaking through Mrs. Estherlyn Idoko at a real sector summit organised in Port Harcourt last weekend, Itonyo said that Nigeria has a huge housing deficit, lacks affordable and quality housing for citizens, and needs urgent intervention by the government and the private sector.
She also noted that housing plays a very critical role in social economic and other aspects of the life of any country and urged stakeholders, and youths to become economic drivers in the socio-economic development of the country by sharing ideas, and experiences that can move the country forward and provide quality and affordable housing for all.
“Imagine investing to provide housing for over 200 million people in Nigeria. That is huge, she said.
“The market potential is massive. The real estate sector is one that continues to grow. As the population grows, there will be a need for more houses; as earnings increase, there will be a need to upgrade to more quality homes. So, the real estate industry is a thriving and booming industry.
“If we desire socio-economic growth in this South-South region, the real estate industry has a huge part to play. The need to form a strong association that will collaborate with various arms of the government to provide quality and affordable housing will be the tool that will stimulate economic growth and development in our region.
“That can only happen if the individual realtors/real estate companies come together as a strong association to drive the objective.”
