The National Council of Lands, Housing, and Urban Development reported that, as of April 2023, a total of 553 buildings have collapsed in Nigeria over the past five decades. Numerous casualties and injuries have been recorded due to these incidents. This information was disclosed in a statement released at the conclusion of the 12th meeting of the National Council of Lands, Housing, and Urban Development held in Kaduna.
The statement highlighted the purpose of the council meeting, which was to bring together stakeholders in the housing sector from the 36 states of the Federation and the Federal Capital Territory to discuss and adopt policy measures. Furthermore, it aims to address challenges related to utilizing local and international credit schemes for affordable housing delivery. This initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu and aims to expedite housing development, leading to job creation, social inclusion, and economic development.
The minister reported that the meeting reviewed 62 memoranda submitted by stakeholders, with 18 deemed actionable, 32 informative, and 12 deferred. The communique emphasized the importance of comprehensive insurance for public buildings and those under construction, citing the Insurance Act 2003, Section 65, which mandates insurance coverage against collapse, fire, earthquake, storm, and flood for all public buildings.
The enumeration encompassed various public structures, e.g. business and office spaces (Government, Corporate, Private), hotels, guest houses, hostels, residential estates, hospitals, health centers and clinics. Additionally, it was noted that Section 64 of the Insurance Act 2003 addresses insurance coverage for uncompleted buildings, covering construction risks, potential loss of life or injury, and property damage. The statement concluded by highlighting the advantages of insurance coverage, including financial compensation to the families of insured individuals affected by disasters. Furthermore, it underscored the potential reduction in government expenditures at the federal and state levels in the event of a disaster.
The document also identified challenges in the mortgage sector, such as complex registration processes, high costs, and low mortgage literacy. To address these issues, the communique called for the introduction of the Model Mortgage & Foreclosure Law (MMFL), which establishes a Mortgage Registry, streamlines registration processes, and introduces innovations like deemed registration and Alternative Dispute Resolution. The MMFL aims to enhance mortgage administration, alleviate court congestion, expedite dispute resolution, and reduce the housing deficit. The statement expressed gratitude to the delegates and announced that Gombe would host the 13th meeting of the Council.
Sources: tribuneonlineng.com, newstral.com, fprnews.com
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