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‘Private, public partnership key to bridging housing gap

‘Private, public partnership key to bridging housing gap

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Long-term public-private partnerships can ease Nigeria’s housing crisis, the Founder/Chief Executive Officer(CEO) of Nedcomoaks Limited, a real estate company, Dr. Kennedy Okonkwo, has said.

Okonkwo said the partnerships between private and public sector was key to improving housing gap in Nigeria.

He underscored the power of collaboration in the housing sector and urged the government to play its role of driving the public-private partnership model in order to create affordable housing in Nigeria’s growing cities.

“Financing infrastructure deficit across Nigeria and other African countries will involve collective innovation both across the public and the private sectors,” Okonkwo, whose firm is engaged in the acquisition, development and management of properties in Nigeria, said.

He further stated that apart from partnership and collaboration, creating affordable housing in Nigeria requires truly understanding how people in those communities live.

According to him, a careful understanding of that fact will help in determining how fast the country can meet the demands of its fast-growing cities.

Okonkwo said the power of Nigeria’s real estate sector to contribute to the socio-economic well-being of the country by providing low-income housing solutions to Nigerians cannot be over-emphasised.

He said Nedcomoaks has emerged a top player in Nigeria’s residential real estate sector, with yearly revenue of over N15 billion in just under a decade, while also providing employment to thousands.

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