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Galloping inflation caused delay in allocation of property to applicants in Nigeria - nigerian tribune

JUNE 18, 2024

Commissioner for Housing in Ogun State, Jagunmolu Jamiu Omoniyi, has explained that issue surrounding the delay

Commissioner for Housing in Ogun State, Jagunmolu Jamiu Omoniyi, has explained that issue surrounding the delay in the allocation of the property to various applicants was caused by the present galloping inflation in the country, which subsequents necessitated little variations in the price of the property.

The commissioner explained this in a statement while debunking an alleged scandal in the housing scheme embarked upon by the government of Prince Dapo Abiodun.

He stated that the market value of the property has astronomically gone as high as N20 million as against the N5.5 million paid by the applicants.

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He noted that government had immediately convinced stakeholders meetings to resolve the issue as quickly as possible.

He added that individuals behind the alleged scandal are opposition in civil regalia who had tried unsuccessfully in the past to manipulate the laudable initiative, especially the ongoing Ogun State GRA Regeneration Schemes.

It would be recalled that an online media platform alleged a scandal in the housing scheme, specifically that of Prince Court Estate, Kobape, Abeokuta.

The statement reads in part: “In actual fact, those who are behind this fake news are individuals who had tried unsuccessfully in the past to undermine and manipulate the ongoing Ibara Housing Estate Regeneration Scheme for selfish considerations.

“They, therefore, resorted to propaganda and cheap blackmail to paint the government and its laudable projects black in the eyes of the people, not knowing that the good people of Ogun State are too sophisticated to fall for these machinations.

“The truth of the matter is that the delay in the process of allocation to applicants was caused by the sudden need for variations in the cost of the property as a result of galloping inflation as witnessed in the last year, as the cost value of the houses have gone up as against the N5.5 milliom initially paid by the applicants, with such houses commanding up to N20 milliom in open market.”


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