Real estate entrepreneur, Babatunde Adeyemo, has lauded the foreign exchange policies of the present administration that have led to the appreciation of the naira against foreign currencies.
While noting that the policies put in place by the President Bola Tinubu-led government are working, Adeyemo called for concerted efforts that will sustain the progress currently being experienced so that the country can bounce back to prosperity.
Adeyemo made this known at The Podium within Pelican Valley Estate Laderin after a Yoruba-based community newspaper, Boseri, conferred the “Oba Awon Abule Sowo Ile Yoruba” title on him.
He expressed concern that the nation’s challenging economy occasioned by inflationary trend will make it practically impossible for low-income earners to access housing facilities, thereby worsening the country’s GDP housing deficit.
He, however, urged the government to tackle bad economy, inflation, identify credible real estate entrepreneurs and support them with single digit interest credit facilities and make land available for them to build low-cost housing for Nigerians of low income brackets to access.
“The best the Federal Government can do now is to work on the economy. I believe the leadership of Asiwaju Bola Ahmed Tinubu is doing its best to control the foreign exchange rate. It is the right step in the right direction.
“By the time they are able to sustain the forex and bring it down drastically, the economy will adjust from the shock. We can’t expect a magic overnight to bring down the forex within one, two or three months, it can’t automatically bring down the prices of goods and services,” he said.
He added that: “As the government is working on the economy, it needs to also look out for people that have integrity and character in the real estate business; the real estate entrepreneurs who have integrity, prudence, and character and channel some funds to them by way of support or assistance so that they can build low-income housing for low-income earners and Nigerians who are in need of shelters to access.”
On the honour given to him, Adeyemo assured that he will continue to live by the principles of goodwill, integrity, character and trust both in personal life and real estate business that earned him the award.
Earlier, the Publisher of Boseri, Mr Johnson Akinpelu, who led other professional colleagues –Mr Kunle Idowu, Mr Johnson Onifade and Mr Segun Ayinde– had disclosed that Adeyemo’s integrity, character, philanthropic gestures and support for widows and the downtrodden earned him the respected title.