Don Urges Government To Offer Incentives To Encourage Housing Development
By NAOMI SHARANG
PROF. Sam Amadi, Director, Abuja School of Social and Political Thought, has called on governments at all levels to provide incentives that would encourage more Nigerians to invest in housing construction.
Amadi, who made the call in an interview on Sunday in Abuja, said that such a step would address the country’s heightening housing deficit.
He expressed concern over the alarming number of Nigerians without access to adequate housing.
According to him, the problem does not lie only in the number of houses available, but also in the usability and accessibility.
“We have millions of housing units across the country, yet many are not habitable or accessible.
“The real issue is not just a housing shortage, but a shortage of usable and affordable homes,” he said.
Amadi said that many homes in the country were not built for shelter or rental income, but as means of laundering illicit funds, adding that as a result, many completed houses remained unoccupied for years.
“People build houses with laundered money and leave them empty. They do not rent them out because they are not looking for returns.
“Unlike those who use bank loans or their salaries, these individuals do not feel the pressure to earn income from their property investments,” he said.
He said that the practice had created an artificial scarcity in the rental market, in spite of the visible presence of unoccupied homes.
To address the situation, Amadi recommended the implementation of a targeted policy that taxed vacant houses.
“Government should impose heavy taxes on houses that remain unoccupied for more than two years after completion.
“This will push property owners to either rent them out or face financial consequences. Such a policy will help bring down rental prices and improve access to housing,” he said.
On the issue of Property Tax Bill, the don said that property tax could affect investment and economic activity, adding that a more targeted approach was needed.
“We are not talking about general property tax which could discourage investment.
“What I am proposing is a vacancy tax; a levy on those who choose not to rent out their property. If you rent it, you do not pay; if you do not, you pay,” he said.
Amadi further expressed concern over the high cost of housing in many urban areas, noting that exorbitant prices often had no basis in real value.
“In some areas, a one-bedroom flat costs ₦2 million to ₦3 million. Yes, there is inflation, but some landlords simply price people out and leave houses empty for years.
“It is a case of poor policy and regulatory failure,” he said.
He said that the housing crisis posed a serious threat to national development and human wellbeing.
“This is a major human development issue. We need sound housing policies to ensure that more Nigerians can access safe and affordable shelter,” Amadi said.
(NAN)
