Experts have expressed worries that paucity of funds and high cost of credit now constitute major impediments to real estate growth.
They urged authorities to boost infrastructure provision and reduce the high interest rate that hinders.. They urged authorities to boost infrastructure provision and reduce the high interest rate that hinders the cost of financing and delivery of housing projects across the country.
She argued that when infrastructure is in place, every other thing will fall in line. According to her, if the nation can resolve issues such as roads and rails, single interest financing, as well as increases in building materials, challenges within the industry will be reduced. “If you look at the FMDQ data on the amount raised from Commercial Papers over the past five years compared to corporate bonds issued within the same period, it tells a story. The banks and financial institutions are more interested in 90 days and one-year transactions. In real estate, building a mall can take you a minimum of 20 to 24 months, while the bank is giving you money for 90 days.”
They urged authorities to boost infrastructure provision and reduce the high interest rate that hinders.. The Minster of Power, Adebayo Adelabu, has assured Nigerians that the ministry would do all it could to ensure that electricity distribution companies step up their games through massive investment, noting, “if that fails, it will resort to legal backing.”
The Bank Directors Association of Nigeria , led by Chairman of the Board of Directors, Mustafa Chike-Obi, has called for collaborative policies to support the growth of the banking sector.
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