OGIC CEO Charges Governments to Prioritize Mortgage Access for Housing Sector

The Chief Executive Officer of Olageospatial Global Investment Company (OGIC), Olajide Fashina, has advised the government to prioritize assisting citizens in accessing mortgage facilities rather than solely focusing on constructing housing estates.

Fashina gave this charge on Tuesday during an interactive session with journalists on Family FM radio Abeokuta.

He urged that the private sector, which still holds the trust of the people, should take the lead in developing housing estates.

To address the challenges of housing, the OGIC Boss suggested that the government should collaborate with private real estate companies and form alliances that promote accountability and transparency in the sector.

"Through partnerships with responsible private entities, the government can ensure efficient execution of housing projects that align with the needs and aspirations of the people," he stated.

Fashina emphasized the importance of considering local communities and their well-being in the housing sector, recommending the introduction of mortgage schemes, enabling individuals to approach banks and secure funds to purchase property.

"By offering affordable and accessible mortgage options, individuals could repay the loans in monthly installments over an extended period.

"This approach would empower citizens to become active participants in the housing market, contributing to their local economies and building their own homes."

He also advised the government to establish clear criteria for eligibility to qualify for housing units built by the government.

In light of technological advancements, the CEO stressed the convenience and accessibility of banking services through mobile devices, saying that by harnessing the power of mobile banking, the government can promote financial inclusion and create opportunities for individuals to access mortgage funds more conveniently.

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