As the Federal Government prepares to sell a luxury estate seized from former CBN Governor Godwin Emefiele, industry professionals are raising red flags about its suitability for low-income Nigerians.
The estate, comprising over 750 units, is located in Abuja’s upscale Lokogoma district and features high-end duplexes. Experts warn that despite government assurances, the cost and maintenance of the units may put them out of reach for average Nigerians.
Former President of the Association of Town Planning Consultants of Nigeria, Moses Ogunleye, argued that the estate’s original design and infrastructure are not aligned with affordable housing goals.
“A four-bedroom duplex is not affordable for low-income earners. The government must conduct a cost analysis and possibly redesign the estate to suit the target demographic,” he said.
Real estate developer Stephen Eke echoed similar concerns, suggesting that rather than offer the estate at subsidised rates, the government should sell it at market value and reinvest the proceeds into truly affordable housing projects.
“The properties were not designed with affordability in mind. Repurposing them without significant loss in value is almost impossible,” Eke stated.
