Real Estate Entrepreneur, ‘Debo Adejana shared his view about the new national housing fund bill passed into law by the National assembly on February 18th, 2019. He commends President Buhari for no assenting to the bill.

He said “Going through the Deloitte report that I read about the bill, while I commend the National Assembly for giving consideration to ways by which we can begin to address the mounting housing stock deficit, I was a little disappointed with the outcome”

“It is a bill of 2004 we are trying to amend and I just felt there are a few things that are not so right”

Mr. Adejana said the sum that workers are to contribute should not be increased “contributing 2.5% of our whole pay as against 2.5% of our basic salary will be too strenuous on many Nigerian workers and will further reduce their almost non-existent disposable income”

On another point he raised is that the new penalties recommended are too steep and the political will to enforce may not be there.

Source:Nigeriarealestatehub