The aesthetic appeal of the visual aspects of the housing estates within the economy have become more and more interesting in recent years — the amazing beauty to the sight of the visual atmosphere of the developed structures, and the fascinating sounds of the scenery, involving traffic, music and the social vibes experiences that move and shape such locations, defining the respective specific landmarks. In Nigeria today, the sensational sounds, which could be low frequency noise, or intermittently heard noise, or a continuous one, and at times impulsive, received and heard in different cities throughout everyday life at motor parks, market places, and other public places like worship centers are characteristically used to correctly identify, and generally define different cities within the country.
However, home developers like REDAN, for instance, as well as other numerous organs in the construction sector, professionally put these characteristic factors into consideration before making informed decisions in selecting locations to invest money in housing construction for estate development. The main aspect that influences such investment is the clientele target market that goes deeper to consider elements of architectural designs (including interior, roofing and structural), building materials used, and landscaping of the premises for the general functionality that suits the prospective home owners. The social income class plays a critical role helping the developers to decide where, how, when to invest. At the same time, it helps developers to know who to primarily target as their off-takers among the several clienteles for the industry.
Cost benefits on its own is another critical factor for the parties (developers and off-takers). The most important reason why this “finance” matter should be seriously taken into consideration is that finance or money in its intriguing economic importance is phenomenally a “scarce commodity” because, money is hard to come by (except when not genuinely or legitimately made, which generally, from time, demands conscientious efforts in earning or creating). In stating this known fact – that money is hard to come by – it also means that the way it is to be spent, requires and demands that proper analysis and caution are taken; and that detailed considerations are put in place in a desired priority order, before permanent and physical structures are erected.
This brings to mind a far reaching decision that envisions long term impacts on property functionality and the eventual outcomes of its economic assessments and audit. One does not easily develop a building and also pull it or knock it down at will. It is expected that once a structure is produced, its utility is prioritised by putting it into use first; for the purposes the particular shelter was developed, to serve out its functionality and the expected return on investment.
In consideration of the ongoing REDAN’s 2000 affordable housing agenda in all the 36 states of the federation, plus the FCT Abuja, the three levels of government are expected to partner, contribute, promote and encourage this initiative that can contribute to closing the endemic housing deficit gap within the economy. This, the governments must do by first, making land available for the developers to effectively possess legitimately without guile or falsehood, and do the necessary physical development, on the other hand, without undue bureaucratic bottlenecks, hesitation and reluctance.
In consideration of the environmental, sociological and governance (ESG) factors that should sustainably retain order in the socioeconomic structure of the economy, the government should delay no more in keying into the REDAN initiative to actualise the dream of ending, or drastically reducing the housing deficit challenges in the economy.
Now, looking back down memory lane, it is apt to state that Nigerians have suffered enough undue neglect; especially of “senior citizens” who put in their entire active life in the public service. These poor and unfortunate Nigerians go on retirement without having a property to fall back on as the only physical evidence of their existence after the active service they rendered to the country. It is therefore considered the responsibility of the state to encourage and promote this vision to reduce housing deficit, through the provision of affordable housing for all eligible, legitimate prospects and applicants, to own personal houses across all social class levels in the economy. The state governments should make hay while the sun shines, to make this initiative a realisable project! REDAN is poised to partner in order to actualise its dreams of reducing housing deficit challenges in the country. The various government organs like the relevant ministries (housing, lands), and their relevant parastatals, are passionately urged to key into this enviable and amazing initiative.
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Sunny Nwachukwu (Loyal Sigmite), PhD, Fellow (ICCON, CSN, SM), a pure and applied chemist with an MBA in management, is an Onitsha based industrialist, and former vice president (finance), Onitsha Chamber of Commerce. He can be reached on +234 803 318 2105 (text only) or schubltd@yahoo.com
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