Date: 2016-03-24

The provision of adequate housing is very vital as it is considered one of the important driving forces of the economy. Clearly, shelter is one of the basic necessities of life and the critical importance of housing investment has become a major issue for economic development.

It is noteworthy to observe that housing investment is not just about providing shelter for the people, but it is also an economic sector that creates both direct and indirect multiplier effects on different sectors, especially in the urban areas where population continues to grow and demand for employment keep increasing.

Realizing the importance of housing to economic development, the Kwara State government recently embarked on housing constructions in the State. First, it was the unveiling of the construction of the Hub, which is a landmark ultra-modern shopping and office complex. It is a project of the Harmony Investment and Property Development Company Ltd (HIPDC), a subsidiary of Harmony Holdings Limited.

The Hub, when completed will transform the landscape of Ilorin, create employment opportunities, stimulate commerce, facilitate and attract new investments, which will ultimately add to the economic development of the State. Here is how the Governor captures the immediate benefits of the Hub to the State economy, "With 64 outlets subdivided into different dimensions of office suites, and multi-use stalls coupled with its strategic location along the dualized Fate road, the Hub, no doubt, presents great economic opportunities for Kwara State in terms of job creation, business growth and enhanced Internal Revenue. It will also provide trade-enabling services that will increase Kwara State's competitive advantage."

The presence of the Hub will also address the increasing demand by business owners and investors in the state for outlet spaces, as some of the business districts in Ilorin have been congested.

In Nigeria and many other developing countries of the world, access to quality and affordable housing by low and middle-income earners has remained a serious challenge that needs to be addressed. Statistics from the World Bank and the National Bureau of Statistics puts Nigeria's housing deficit at over 17 million units with an annual population growth rate of 2.8%.

Similarly, Kwara State with a population of 3.5 million (2006 National Census), has about 486,000 households and a housing deficit of 584, 000 units. To reduce this housing deficit gap, the State Governor, Alhaji Abdulftah Ahmed on Monday, 7 March performed the foundation laying of 1,000 housing units at Budo-Osho area, Tanke Ilorin. I was very happy to learn of this project considering the fact that it came barely a week after the Governor flagged off the construction of the Hub. And this can be regarded as a signpost of what to come in terms of developmental projects in Kwara under the present administration.

The construction of the 1,000 housing units as explained by the Governor was aimed at providing quality and affordable shelters for low and middle class workers, and free them from the shackle of landlords. The Housing scheme will comprise 700 three-bedroom flats and 300 two-bedroom flats.

No doubt, the housing investment the Kwara State government is embarking on has the potential of creating jobs for local artisans such as bricklayers, electricians, carpenters, plumbers and others that will be working on these sites. The General Manager of Kwara State Housing Corporation, Engr. Saliu Salman had hinted that about 3, 000 workers will be employed during the construction of the housing units, which is expected to be completed within two years.

Aside providing shelter for the people, the housing scheme will also attract investments to the state, stimulate commerce and development in these areas, as well contribute to the state internally generated revenue.

Interestingly, housing investment in Kwara is expected to grow significantly considering the commitment of the state government to replicate the housing scheme across the sixteen local government areas of the State. For this, I must commend the State government under the leadership of Governor Ahmed for giving housing the required attention it deserves in order to bridge housing deficit in Kwara.

However, it is obvious that government at both the federal and state level in the country cannot meet the housing needs of the populace and as such, it will require a massive private public partnership investment in housing provision to reduce the housing deficit in states across the country. It is clear that no government can provide all the needs of its citizenry, and so partnership with relevant private sectors is inevitable to ensure sustainable development.

Public Private Partnership is an essential mechanism in ensuring greater delivery of infrastructure and essential services to the people. It is in this regard that I implore private sectors to partner with the Kwara State government in carrying out more developmental projects aimed at improving the state economic fortune.

Governor Ahmed has equally assured that his administration will continue to support private developers in the state by providing land and other incentives to fast track housing delivery to the people of Kwara at an affordable rate across the state.

It is noteworthy that the investment in housing is being complimented by the upgrading and construction of roads across the State. Good roads are essential for the movement of goods and persons, which will further stimulate economic activities. If this developmental stride is sustained, which I believe will be, then, one can safely say that greater economic prosperity is imminent in the State of harmony.