20 Nl,e rl a n Tu!'sdll"
TribuneBusiN£$~
T ribu.ne 14 February. 2012
'Mortgage fmancing has contributed only 0.5% to GDP' Stories by Ch ukwuma
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M
OR-rUAGE
nn.l.clng has
conI rtbu ted only about 0.5 rer ttnt to
the country" Gros. Domestic Prodl <:1 IGOP)' lherdore. there 1.1 need for mo't"e morlg.ge nnandng of th{ housing
sector This Wll5 lb" view of
the Chairman or Lagos Home'
O'lnerahlp
Mortg.ge Sch .. mc. Nr Ol.aupo Sh'."rc. at a senllnar on
renancy Laws , Arbnl'.U~n Rules and Mongage IIUl . tick! a' AJahusa. IkeJa I •• t wttk Mr Shase:rt' laml!lItcd the seeming lack of finance the housing RCtor had INRn'f'd from the mortgage finance sedor. uyl"g, "In spite: of Ihe .d~rse effect of houalnl denc il I'm the nallon 's econom y, II is not rccdvtng tht rTqulred
asslstancc
fr o m
the
mortgage nnan<c sector "Mortgage rIn.nec rontnbules Just 0.5 per ce nt 10 the cnuntry's Gross Oomeslk' rroduct
IGoP). Thts Is relaUft:ly low when compared to other developing countnes Il eontnbut~ 10 per cent In Mc:xlco. 25 per cent In Malaysia and 29 per ce nt In SOUlh Africa .· he further Insisted l i e alao decried the acc~lblllly nile of 5OftW: of the mortgage IIChc:mcs that had already been put In plilce by previous administration such a. lhe Chld Latttf Jakande administrations. saying they wue affordable for reSidents. but not sustainable due to the h~ debt Inc:u~ by the government Also In the same seminar Mr SttaSOn:. In lending voice to what other experts In the natlon'a housing sector have been dlOru5lng for some time now, had called the attention of lhe entire publiC to the daunttnl housing ahon.agc: and c hallenge. In the country. saying Nigeria needed at least NI4 lr11110n to meet the hOUSing Shortage of about 14 million. According to Mr
Shuore. Nlgerta needs approximately 14 million unll1l 0( house.. In every part of Ihe country adding that each unll ,",'QUId coel N3.5 million In his own lIu bml · sston the C ommlss · loner for Houalng, Mr Boaun JeJe . dillclosed that atakeholden were very wtlllng to Invest In
housing In Lagos. but the aclivilies of some ch:.s.rlatans In the Itttor could be exploltallve If lefi unehttked ·We shall conUnuc to enforce all laws gUiding mortgage and lenancy . The houa lng sector la al the threahold of repoaltlonlng. both In
terma of mortgage ad mlnlstrallon and the tenant landlord re latlonsh Ip.· add Ing Ihat . ·government la working towardS Institutional and legal frameworks to alrcnglhen the aector The commissioner rurther Inalated that the got/eromenl 's
reforms would ensure falrne.s among tenanl8 and landlords, . . well as txtwec=n mortgageea and mortgagors , adding that such reforms would also give room ror qUick resolutton or connlcla that might artse from transactions through the arbitration rules
Environmental expert reveals problems land reclamation creates L AND redamalion which the governmenta of nations oficn umIcrtlLke In order to create more land so 8.lI to meet the growing houalng challengea due to plpulallon InercH(:, can alao lead to the creaUon of oliler problems auch as Imbalance In nature a. well as loss of valuable blodJverslty Giving a warning on the negallve efTttta Ulat might arlae rr9m land
role the mangl"OV'C pla)'5.
enVironmental expert. Mr ~mola MaklLnJuola , recently In Lagoa , dlad08ed that lhe part of water of len reclaimed were usually Ihe part that p layed home to numerous sea life auch aa fish, prawna and cralM. among others He InSisted thai the disappearance of auch things would ultimately preKnt lhe Inhabltan15 of auch places with the
sea food, as wcll as atrlpplng the rcsklents of such places of their major source of ttOnomlc powe:r ~he mangrove swamp. being an example: of pla«a otten rttlalmed. proVides lhc= breeding ground for n.shes and crustaceans It IS a buffer area. that helps to keep the: dry land dry. b«:ause It absorbs Willer lhat cornu out
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It ta not nght rOf' anyone to JUSI destroy It all In
the name of land redamalion,' the envlronmentallat argued Mr MakanJuola also II1slsted that If It must be done . land reclamation In Lagoa and other parts of the country ahould be gradual and should take place over a pertod of time. ·We nc:c:d to won; In harmony with nature.· he posited
Clilnatechangecan adversely impact global environment -lPCC
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Change. UMAlEdwl£t can Climate adveruh Impact SUstatnabie Dew:topmcnt g l o b a I and Public Leadersh ip enY1ronmcnl. agJ1culturaJ TIle main objttUft: of productlvlq a nd the thla conference waa to quatlty 01 hunwi II e says bnng ..xnUllts. t.c:achcB. the Intergo\.'ernrlental reKarchua.. economiSts., Panel on C limate ~8nd pobcy n-o.kcrs Ch.nge (IPCC) and fnIm around the world on a World Meteorlll ?glcal .....g\r: ptatbm to dIscuM OrganlSAuon. vanous 8SpC'CLS 01 dlmate It was al50 rueakd change, suatalnable thai In de\'e :oplng agriculture and publiC' countries. II "'ould be kaderahlp and dc:vdop a difficult for (a r mers to conseruus containing a carT)' on fanning In the aet of .. aluable seensrto of climate recommendaUons, . . a change. I>e:~eloplng ""8.y forward for addresatng countrtu. India In 1I1e Issu~ related to the partJcular....... vulnmlble future climate scenano. to dlmale vaI1alrill 'y and Indian agriculture and climate change as funn!ng food X'CUrtty Experts have l'C'\.'Ca1ed depends largely on the variability of ra'nfall thsl lhe knowledge and Fluctuations In areas underalandlng of planted to arabje crops ImpllcaUons or climate and annual yield are chllnge at the nallonal dt.reclly relatttl climate level Is Inadequate and condlUOns and noulbly to f r a g m e n t a r y Intcrnallonal cfforLS 10 ralnfau palkm. TIlia and many more address the Issue of '"''ete the: focal P("tIlt al a climate change began two-day InternaUonal with lhe adoptJon or Ute Conferen« on C limate United Natlona Change. Suatalnable Framework Conven tion Agriculture: and I~blic on C limate Change In Leadcn.htp hdd over the 1992. lhc Importance and ,",ukend til Indlll s'gnlOeanee of the The Conferelle-:- was- .. ulnerablluy of nalural lMg:anl!M'd by ttl" Indian and human systems to Coullcll or Agrkuhuflil climatiC' changea and Raeareh and Education adaptaUon to such In collaboration \Y1:.h the changes 15 IncrellSlngly Haltonat Council for bdng reall5ed
. P'rom 1Vt. Gene ral Jlanager, Panabb IntarnaCfonal LImited., Jlr Glriah Sharnta: AdmfnLstnlthJC Manager. IIr Sha lbu Alha. .cm and Lott.Uca lIanag er, Jlr Oseremen Ijl •• at the launc h of Canon range qf products btl Panabls i n LagCM. I"eCentll/. ""oto; Ta'uoo Sal. ._
Megacity can aid economic dev of nations ~rt XPERTS hat/e revealed that IIlcgadty such.. the o n e being proposed by the Lagos State government can playa major role In Ihe econom ic and creaUve advantage or any nallon If well harnessed and managed Thta was Ihe 'tiew of lIOtlIe expert.a til planning a n d u r ba n isation In a re port entitled ~he economk rna 0( cities.· which wa. made avail able by the UN · HABITAT According to the report . the mega clly rcgkm phenomenon WBS ortglnally Idenllned in Ea.tern Asia , In areos
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region and the Changjlang Rtycr ~lta region In China . t h e Tokyo· Oaaka region In Japan. and the Orealer Jallarta region In Indonesia . The report alao reveals Ihal megaCltles a r e a aertes or urban «ntres between 20 and 50 dues and lowns. phyalca lly separate but functiona lly networked . clustered around one: or more Large central dUn and drawing enormous econornkstrc:ngth from a ncw functlou al dlvlalon of labour A key reature 0( mega city regions according to Ute rqxH1 . is thllt Lhey arc bask:a.lly polycenlrlc.
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the largut mega city reglona in terma of population aLu:. we find thst mega c ity rc:.glons have atrong economic and crc:.aUve advantages over the real or the world. ~ 11le report _ya. wh ile a lso high lighting some of t h e probable ways mc:gadty c.oukI aid the economtc developmen t of naUons ·The world lOp to mega dty refPOns ha\'C a population or666 million (I,c:_ 10.5 per «Ilt of the world population) and produced USD 7 ,891 lI.e . 25 . I per cent or world products).· the report Indicates Ex:perta, through the study, have .. I!M) rc:.vealed ·W~"~'~'~'~'~'!'~~~.!.'!m~l~n",,--,, Ulat_~~. lop ~ mega dly
__
rc:g1onII have 17 per ceul
world population and account rOf" 42.8 per cent or world economy_ The lop 40 mega dty rcg\OIU have 23 .2 per cenl of world population and account for 58.9 per«llt of world ttOnomy. "'1hc top 10 mega dly regions have a population of 10.5 per cent and produce 41 . 1 pet' cent lhe world patents The top 20 mega city reglona have a poplllaUon 0( 17 per cellI alld generate 61 1 per cenl of the world pal",nLS TIle top 40 mega clly regions ha,,(' a populaUOII of 2;J,;l per cent and (enCrale 76_8 per cenl or Ih(' world
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pal('f1l11 · Sd)'S the:' report