Price Of Dwelling: UK Don Seeks Sustainable Methods

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By Ismail Abdulaziz

Nigeria wants sustainable methods by the federal government and related stakeholders to proffer workable options to the rising price of dwelling.

Dr Alim Abubakre, Senior Lecturer at Sheffield Business School, London, made this recognized to the News Agency of Nigeria (NAN) on Monday in Abuja.

He stated that the excessive price of dwelling just isn’t peculiar to Nigeria alone, including that it’s a world problem nations are dealing with.

“Countries like the UK have skilled sharp inflationary spikes, Sri Lanka confronted extreme meals shortages, and Argentina continues to endure hyperinflation.

“As Nigeria embarks on economic reforms, including the reduction of subsidy payment and the flotation of the Naira, these challenges must be mitigated through innovative strategies across the short, medium, and long term,” Abubakre stated.

He stated that a part of the quick time period strategic answer to the problem was capability constructing for leaders to navigate advanced financial landscapes in addition to revolutionary approaches to inflation, unemployment and poverty.

Abubakre stated that the federal government’s efforts at offering palliatives for fast aid to challenges encountered from its new insurance policies and programmes is in the best course.

“One of the most effective ways to achieve this is through direct cash transfers. A similar initiative in Nigeria, targeted at the poorest households, will offer immediate relief and help prevent households from slipping into deeper poverty.”

He stated that momentary tax reductions and discount of import duties on staple meals and important merchandise would result in decrease retail costs and ease the burden on customers.

“Another fast intervention is offering subsidies for public transportation. With transport prices constituting a good portion of family bills, subsidies can ease commuting prices.

“Proper implementation and funding of the conversion and adoption of Compressed Natural Gas (CNG) for public transport (ought to proceed) with vigour.

“The government should make the kits for conversion cheaper by working directly with manufacturers or, better still, encouraging them to start producing locally.”

Abubakre additionally urged placing worth caps on important medicines and healthcare companies to make sure affordability within the quick time period.

He stated the South Africa’s Single Exit Price coverage for medicines supplied an instance of how authorities intervention can hold healthcare accessible for residents.

He additionally stated that enlargement of the college feeding programme of the President Bola Tinubu’s administration and establishing neighborhood kitchens would assist essentially the most affected populations.

“This should be negotiated into Corporate Social Responsibility mandates for corporations. The government should minimise direct involvement in such activities to reduce the risk of corruption.”

On the medium time period options, Abubakre stated they embody boosting of native manufacturing, encouraging small and medium enterprises, funding in public transport infrastructure, supporting renewable power adoption and provision of reasonably priced housing by way of private and non-private sector collaboration.

The long run methods, Abubakre stated embody robust dedication to diversification of the economic system, funding in training and talent growth, selling industrialisation and advancing agricultural know-how.(NAN)

edited by Sadiya Hamza