Stakeholders in the housing sector have expressed praise for the appointment of Babatunde Fashola, the Minister of Works and Housing, as the Chairman of Shelter Afrique. They claim that this move will benefit the sector, as Fashola is a technocrat who has achieved tangible results in his previous roles.
Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa. Fashola was named as the new chairman of the company at its 42nd Annual General Meeting in Abuja recently.
In response to his nomination, Fashola stated that the organisation needed to introduce new strategies to restructure SHAF and make progress. He added that the Nigerian government was undergoing a transition to another administration soon, embracing change in different ways, including changing board members, new ways of raising funds, and having new directions.
Johnbull Amayaevbo, the President of the Nigerian Institution of Estate Surveyors and Valuers, described Fashola as a goal-getter and a smart and intelligent technocrat capable of handling the position of chairman. He, however, expressed concern about Fashola’s availability to fulfill the role.
Babatunde Adeyemo, the CEO of Pelican Nigeria Limited, also welcomed the appointment, stating that many had started losing interest in Shelter Afrique due to its past loss runs. He expressed optimism that Fashola’s goodwill as a person will positively influence the organisation, leading to increased access to loans for real estate entrepreneurs. He added that this will ultimately help in reducing the housing deficit currently experienced in Nigeria.
Adeyemo further explained that economic challenges make it difficult to reduce the deficit and acknowledged that the government cannot employ its budget to provide housing for Nigerians at large. Nonetheless, Fashola’s appointment is hopeful progress towards ultimately reducing the housing deficit and enhancing the real estate sector in Africa.
