Fashola urges FG to adopt rent-to-own scheme

A former Minister of Works and Housing, Babatunde Fashola, has given reasons why the rent-to-own scheme must be further improved upon by the government and stakeholders as part of efforts to reduce the number of homeless persons in the country.

He gave the recommendation on Thursday while delivering his keynote address at the ongoing 50th-anniversary celebration of the Federal Housing Authority on Thursday in Abuja.

According to the former minister, financial capacity is a hindrance for most persons to purchase homes outright.

As a result, the Federal and state governments must expand rent-to-own programmes.

He said, “Homelessness is the most undignifying experience for a human being and must be confronted with the necessary resolve by political leaders and policymakers. The sad but painful truth is that not everybody will be able to afford to buy a house; but I strongly believe that rental housing for all is possible, not only based on how we build but also how people pay rent.

“Therefore, our housing policy must focus on rental as it focuses on ownership. Consequently, rent-to-own initiatives that started in the last administration must not be allowed to die.


Punch newspaper
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