Nigerians must use professionals, avoid quacks in real estate business
The President of Female Lawyers in Real Estate Practice (FELIREP) Uju Anomneze, has cautioned Nigerians against cutting corners while seeking for accommodation.
She explained that this was to avoid being swindled of their hard earn money by impostors in the real estate business,as well as to build confidence.
She stated this at the just concluded 3rd Lagos Real Estate Market Place Conference and Exhibitions held on Victoria Island, Lagos.
She added, “Many Nigerians in diaspora are sceptical about investing in the Nigeria’s real estate sector; that is why we need a review of the state’s Land Use Act to further instil public confidence in the real estate practice.”
Meanwhile, experts in the energy and real estate sectors during panel discussion on ‘Sustainable Energy Solutions in the Real Estate Sector’ urged the Federal Government to localise electricity distribution to improve supply and grow the sector.
The Chief Executive Officer, Extradite Consulting, Mr Eyo Ekpo, said distribution of electricity was a local business and should be treated as such to allow the retail electricity distribution business thrive.
Ekpo said, “It is an aberration that only nine electricity distribution companies cover the 35 states in the Federation. No country in the world does so.
“We live in localities, hence electricity must be localised to foster the desired improvement and growth we desire in the sector.”
Also, the Chief Executive Officer, Viathan Engineering Limited, Mr Habeeb Alebiosu, noted that although there were some activities by regulators and distribution companies, not much had changed in the energy sector.
Alebiosu stated that regulation in the energy sector should be consumer biased to increase the supply and distribution of electricity.
Managing Director, Auxano Solar, Mr Chuks Umezulora, demanded the domestication of supply chain in the nation’s renewable energy.
Umezulora said governments must put up a policy that encouraged energy efficient appliances, while practitioners must think sustainability in building designs.
The Co-Founder/Managing Director, ELALAN Construction Company, Mr Andre Geday, appealed to the Federal Government to stabilise the sector to avoid the ripple effects of the high expenses incured by companies and industries on the end users of goods and services.
Managing Director, Nigeria Oolu Solar, Ms Doseke Akporiaye, said the Federal Government must work hard to reduce the cost of importation as it was hindering people from acquiring energy devises and solutions.
Co-founder, Juststandout, Ms Owen Inyang, said before structures were built, energy should be inculcated at the planning stage for self-sustainability and promotion of green environment.
Deputy Managing Director, UBA Group, Mr Muyiwa Akinyemi, said practitioners in the real estate sector needed access to finance.
He urged banks and other financial institutions to focus on Environmental, Social and Governance and ensure risk sharing in every loan request before granting them.
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