Engage private sector in your economic sustainability plan, Real Estate group urges FG

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By Aderogba George
Abuja, Aug. 11, 2020 Alhaji Aliyu Wamakko, President, Real Estate Developers Association of Nigeria (REDAN), has urged the Federal Government to carry along private sector in its Economic Sustainability Plan (ESP) implementation to address some challenges occasioned by COVID-19 pandemic.
Wamakko, who made this call in a statement on Tuesday in Abuja, advised the Federal Government to tap into the huge job creation potentials in the private sector to bring about economic growth and development for the country.
Wamakko said that the call was in response to the charge on private sector by Vice President Yemi Osinbajo to be proactive in leading the path against recession and poverty in the country.
Wamakko quoted Osinbajo as saying that the Federal Government was not under any illusion to revamp the economic alone, urging the private sector to take the bull by the horns and make the recovery initiative a reality.
He, however, commended the new initiative by the government on housing under the ESP, adding that they have an enormous task ahead by providing an enabling environment for private sector driven economy to thrive.
According to Wamakko, private sector driven economy will help the government to accelerate the economy development, especially at this critical period of economic depression caused by the COVID-19, which is ravaging the world.
“Government needs to unburden itself of direct building of houses, housing should be private sector driven through real estate developers, who have the potentials to deliver the much-needed houses timely across the nation.
“Government is not supposed to build houses directly, the government should rather provide an enabling ground for real estate developers in doing that.
“The ESP will eventually revitalise the country’s micro-economic indices and increase about 1.5 per cent of the nation’s Gross Domestic Product (GDP),” he said.
He added that REDAN has concluded plan to roll out 77, 400 housing units for low and medium income earners across Nigeria to complement government’s efforts in tackling the nation’s housing deficit.
According to Wamakko, the planned 77, 400 housing units is expected to create about 2.2 million direct and indirect jobs.
He urged government at all levels to assist the developers by creating an enabling environment for the project. (

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