The Executive Director of the Housing Development Advocacy Network (HDAN), Festus Adebayo, has lamented the recent increase in the costs of construction materials in the country.
Speaking with journalists in Abuja on Tuesday, he noted that the price of cement skyrocketed from N6,500 to N7,500 – effectively putting affordable housing out of the reach of struggling Nigerians.
A non-governmental organization in the Nigerian housing and construction industry, HDAN has been vocal in advocating for affordable housing materials, low-cost construction projects, CBN housing intervention loans, mortgage financing, renewable energy, environmental protection, as well as C-of-O in the FCT among other real estate issues.
In his characteristic openness, Adebayo berated the Tinubu administration for the inexplicable rise in the cost of cement and iron-rods among other building materials. He noted that “it is sad and unpardonable that the costs of cement and iron-rods” are putting affordable housing out of the reach of low-cadre Nigerians.
According to him, Nigerians are still waiting for President Bola Tinubu to make good on the mortgage and credit system he promised while campaigning for office. He emphasized that without explicit governmental interventions, “there is no hope for the common man to own a decent home in the country.” He added that even corporate home-builders will face more challenges in the housing industry.
Adebayo averred that the increasing rate of crimes and violence in Nigeria is not unconnected with the biting economy under the Tinubu administration. He stated that many struggling Nigerians are forced into condemnable illegalities to make ends meet – giving rise to worsening insecurity, large-scale fraud, and other indictable offences. He advised the federal government to make housing development affordable for all citizens irrespective of their incomes.