Here are the some challenges developers’ faces in the built environment
- The issues of Omo-onile: You have to part with a lot of money to get land and be able to use the land. If it’s a country where the government has got full control according to the 1978 Land Use Act, we would get assistance from them as partners whereby they provide the land while we provide the houses. If we can get the cost of land out of the budget of housing, we would be able to sell them at a very reduced rate. But in a situation whereby we have to pay for the land, taxes and what have you, I’m sorry we can’t have the affordable housing we wish for.
- Getting good people to work with: People are difficult to work with. A lot of them don’t want to work but want to get paid. To get the right people has always been difficult. A wise man once said you must earn your keep and keep your earn. There are still good people though. It’s just difficult to get them
- Contending with economic policies: This is a big task. The government sometimes come up with policies that could send you back to your village but you have to be able to manoeuver your way around it and still find a way to comply. Some of these policies have killed so many businesses but nonetheless, the government still tries to introduce policies that would favour us. Although, most of the policies they came up with so far have crippled our businesses.
- Funds: For instance, a house that you ordinarily want to sell for 40 million naira will have to be sold for as low as 20 million because you need off-takers to kick-start the business. When you get the money, you don’t look at the margin, you just want to build and deliver. At the end of the day, you would have lost a lot of money before you start selling at the original price.
- Infrastructure development: In a situation where you have to provide your roads, drainage, poles, strings, transformers, light etc. there is no way you can regulate your price. Infrastructural development is a huge burden which has really affected this business a great deal because if you don’t have what it takes to provide all these, you will be out of the business
- Trust: Trust has been abused by many developers. There are a whole lot of Nigerians in diaspora who wants to come back home and invest but they have been swindled by families and relatives. Their trust has been betrayed and they have become so hard to convince.
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