Let’s do a housing programme for a million apartments per annum so that mortgages can begin to happen. We all came.
We got a good apartment in Utako and they said it’s N10 million and that we have 15 years to pay. You know you are paying towards ownership, not to a shark of a landlord who is asking you N1.5 million. Tomorrow, he says he has doubled it and if you don’t like, you pack. Which young man in London goes looking for a plot? He looks for an apartment. In Germany, France and the U.S., it’s out of date looking for plot. Even the plot now is too difficult to get. You buy your apartment and you have 15 years to pay at maybe 5 per cent interest. They said it was a great idea. We worked it out to create 27 million jobs. I said 200,000 in Lagos, 200,000 in Abuja, 200,000 in Port Harcourt, Ibadan, Kano, Onitsha a hundred thousand each. The rest of the place, at least 20,000 and 30,000, including university hostels. Imagine the jobs for those delivering sharp sand, laterite, tipper drivers, quarries, tillers, electricians, architects, painters.
That’s how Singapore grew
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