Fashola Urges Rent-to-Own

Fashola Urges Rent-to-Own

A former Minister of Works and Housing, Babatunde Fashola, recently spoke about the importance of improving the rent-to-own scheme in Nigeria. He believes that this will help reduce the number of homeless people in the country. Fashola shared his thoughts during a keynote address at the 50th-anniversary celebration of the Federal Housing Authority in Abuja.

The Problem with Buying Homes

Fashola explained that many people struggle to buy homes because they don’t have enough money. This financial barrier prevents them from becoming homeowners. To address this issue, Fashola suggested that the government and state authorities should expand rent-to-own programs.

Rental Housing for All

Fashola emphasized that homelessness is a terrible experience that no one should go through. He believes that rental housing should be available to everyone, not just those who can afford to buy a house. Fashola called for the continuation and improvement of rent-to-own initiatives at both the federal and state levels. He also urged state legislators to create laws that make rent payments convenient and affordable for people.

The Future of Housing in Nigeria

Fashola discussed the future of housing in Nigeria and the role of the Federal Housing Authority (FHA). He suggested that the FHA should focus on rental housing and adapt to the needs of potential buyers. Fashola recommended conducting surveys to understand the preferences and payment methods of young buyers. He also encouraged the use of digital platforms for advertising, selling, and making payments, as this is the preferred method for many young buyers.

NEMA Review for Relief Efforts

Conclusion

Fashola concluded by stating that the FHA should operate as a proper business with strict corporate governance principles. He believes that this will lead to success and help provide decent and affordable housing for all Nigerians.

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