Prominent Nigerian mogul and Group Chief Executive Officer of Casalavoro Residence, Mr. Williams Olatunbosun, has asserted that the Nigerian government possesses the capability to slash housing costs across the nation by an impressive 50 percent.
He revealed this during an insightful interview with journalists at a revealing event in Abuja on Friday.
He emphasized that through collaboration with the private sector, President Bola Ahmed Tinubu’s administration can effectively mitigate the housing shortfall in the country.
He articulated that the federal government serves as a crucial catalyst for the advancement of real estate development.
“There are countless strategies the government can implement to lower the housing expenses in Nigeria.
“The government acts as the primary facilitator of infrastructural growth, leveraging financial resources and fostering partnerships with the private sector.
“We welcome governmental support enthusiastically. The predominant factor driving the steep housing prices is the exorbitant costs associated with land and development. If the government can work towards reducing land costs, it would significantly aid in diminishing overall housing expenses,” he expressed.
He further remarked that only Nigerians hold the key to resolving the nation’s developmental hurdles.
His remarks coincide with the remarkable shift in the real estate sector, which has surpassed crude oil in its contribution to Nigeria’s gross domestic product, as highlighted by the recently published rebased GDP report from the National Bureau of Statistics.
