Bola Tinubu has been advised by real estate stakeholders to convert the 753 seized duplex estate into residences for ministers and senior officials.
Jeremiah Akinsele, the Chief Executive Officer of Magnificent Choice Services Project and Engineering Ltd, disclosed this in an interview with The PUNCH , when he said the seized houses should replace the housing allowance benefits given to ministers, permanent secretaries and other senior government others.
He said, “This proposal aims to address the ballooning costs of accommodation allowances currently borne by the Federal Government. Instead of allocating significant sums for residential allowances, these duplexes can serve as temporary official residences. Appointees would vacate the premises at the end of their tenure, ensuring continuity and efficient usage for successors.
“Instead of selling these properties, often at significantly undervalued prices and typically to politically connected individuals, they should be retained as strategic national assets. Selling off this property undermines its long-term value and benefits only a few individuals at the expense of the broader public interest.”
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He noted that it was better to convert the property into official quarters for ministers, senators, members of the House of Representatives, and other senior government officials.
“By doing so, the government can eliminate the substantial costs associated with accommodation allowances. Currently, these allowances, often ranging from N3m to N5m monthly per official, when multiplied by 450 lawmakers over four years, result in a staggering financial burden on the national treasury.
“Utilising existing property for this purpose would save billions of naira and reduce unnecessary government expenditure,” he argued.
He added that to ensure efficiency and high standards, the management of those quarters should be outsourced to private facility management companies.
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