The Ministry of Housing and Urban Development has announced plans to launch an initiative to revolutionize inclusion and affordability in Nigeria through the implementation of cross-subsidies in housing projects.
The Punch reported that the visionary strategy, supported by the Honourable Minister of Housing and Urban Development, Ahmed Dangiwa, promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
This is according to a statement signed by the Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe.
“Dangiwa unveiled this creative strategy while reviewing affordable housing options presented by the Ministry’s Affordable Housing Building Design Committee,” it stated.
During his first week in office, the Minister created the Committee to assess project designs and make sure that the houses the Ministry promotes are within price ranges that low- and medium-income earners can buy.
Among other things, “the revised designs featured several cost-saving changes, including organic one-bedroom bungalows to lower the cost of purchase while giving beneficiaries the flexibility to expand to two and three-bedrooms as their income increases, optimized space management, smart roofing techniques, and basic internal finishings, among others.”
Dangiwa praised the Design Team’s originality in his remarks. He also stressed the importance of embracing cutting-edge ideas like cross-subsidies to combat the problems caused by inflation and the skyrocketing costs of building materials, which have increased the prices of planned homes.
He declared, “I am impressed with the work that the affordable housing design Team has achieved, thus far, in bringing down the price of dwellings that we want to promote so that all Nigerians can benefit.
“Although there has been progress, the rising cost of construction materials has nearly completely offset the savings from the updated designs. We need to think creatively and accept unconventional approaches if we’re going to succeed in our goals.
Cross-subsidies, according to the minister, are crucial policy instruments used by governments and urban planners to solve difficulties with housing affordability and advance inclusive urban development.
The strategy, he continued, entailed spreading the costs and advantages of home creation among various socioeconomic brackets.
