• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Currencies

Forex crisis is hitting the housing sector – BSTAN Group

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
October 5, 2021
in Currencies, Real Estate and Construction
Forex crisis is hitting the housing sector – BSTAN Group
Share on FacebookShare on TwitterShare on Linkedin

Becky Olubukola, the Chief Executive Officer of BSTAN Homes, has urged the Federal Government should find solutions to resolve the housing gap as well as the exchange rate crisis.

She said this on Friday in Abuja, at a ceremony launching the National House Fair 5.0, for 2021, according to Punch.

She noted that there is a sure linkage between house prices, building materials and exchange rate depreciation, especially when one is considering a high import-dependent economy that Nigeria operates.

RelatedStories

234 public enterprises successfully reformed through privatisation, concession – BPE

FG to revive ailing sectors, inaugurates Technical Working Groups

September 6, 2022

What the CEO of BSTAN is saying?

According to her, the rise in the exchange rate had resulted in an increase in the cost of materials, making life difficult, unsustainable, and unaffordable for the average person.

She said, “The effect of our naira to dollar rate right now is hitting hard on the housing sector; it is not a good time for us, as cost of materials have gone up. And because of the passion to provide affordable homes, we are still trying our best, even to Nigerians in diaspora.”

While underlining the necessity for the government to subsidise housing industry, Olubukola said that Nigeria had the capacity to create the materials required to erect an inexpensive apartment for every citizen.
The BSTAN head who berated the inadequate mortgage system of the government, stated that the firm has finalized plans to empower Nigerians with 10 plots of land worth N100 million as part of measures to depopulate the urban regions and increase business prospects in the rural areas.

She said the project was part of the organization’s aim to eradicate slums in urban areas, and she cautioned that if Nigeria failed to eliminate slums in cities, residents of the slums would cause issues for city dwellers.

She went on to say that SBSTAN would focus on attractive rural locations with infrastructural development and build roughly 100 affordable dwelling units.

“We need to put heads together, develop the slums; let us stop using the poor as tool for political thuggery, let us stop using them as tool to remain in power.

“True leadership empowers those around; suppressing the poor is not leadership, keep them to remain in their state one day they will face you and bite you,” she added.

Olubukola said that the housing sector had a strong capacity to build the nation.

She said, “When you provide shelter for every member of the society, you have provided employment, food, businesses in those environments.

“We are coming up with the metro shelter concept across the 36 states of the country to reduce the migration from the rural area to the urban areas and build a business life, create urbanisation in those rural environment and many more.”

Tags: Becky OlubukolaBSTAN HomesHousing gapHousing sector
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

234 public enterprises successfully reformed through privatisation, concession – BPE
Business

FG to revive ailing sectors, inaugurates Technical Working Groups

September 6, 2022
Next Post
Naira closes at a record low of N409/$1 at NAFEX

Exchange rate depreciates at official window as forex supply drops

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • MRS hikes petrol price to N925 in Lagos, N955 in Southeast amid global oil price increase 
  • Sovereign Trust Insurance names Abimbola Oguntunde as Board Chairman, highlights industry experience 
  • Ogun Govt warns of more torrential rainfall, urges residents to prepare for floods 

Follow us on social media:

Recent News

MRS slashes pump price to N935 per litre after partnership with Dangote refinery

MRS hikes petrol price to N925 in Lagos, N955 in Southeast amid global oil price increase 

June 22, 2025
Sovereign Trust Insurance names Abimbola Oguntunde as Board Chairman, highlights industry experience 

Sovereign Trust Insurance names Abimbola Oguntunde as Board Chairman, highlights industry experience 

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics