Industry leaders have called for stronger ethical standards, innovation, and collaboration to rebuild public trust and enhance professional excellence in Nigeria’s real estate sector.
Speaking at the 7th Summit of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Branch, participants stressed the need to align local practices with global real estate standards while addressing sector-specific challenges.
The two-day event, themed “Building Trust and Driving Excellence in Real Estate Practice: Global Standards, Local Realities,” brought together key players across the real estate value chain to explore strategies for sustainable growth.
Emeka Eleh, former president of NIESV and chairman of the occasion, said discussions from the summit underscored the urgency of combining professionalism with integrity and innovation.
He acknowledged challenges such as bureaucratic delays in project approvals and weak regulatory enforcement but urged practitioners to uphold ethical standards regardless of institutional hurdles.
“The realities exist—files stuck for months and delayed approvals but we must maintain our standards. Clients expect us to deliver with integrity, no matter what,” Eleh said.
In his welcome address, NIESV Lagos Branch chairman, Tosin Kadiri, said the summit was timely given the rapid changes in Nigeria’s property market. He emphasized that professionals must adopt international best practices while adapting them to local economic realities.
“We must explore approaches that balance global standards with our domestic challenges,” Kadiri stated.
Delivering the keynote speech, Odunayo Ojo, chief executive officer of UPDC, urged estate surveyors and valuers to evolve with the global real estate industry or risk becoming obsolete.
“Real estate practice must go beyond agency, valuation, and property management. Today, technology, sustainability, and data analytics are reshaping the market. We either innovate or get left behind,” Ojo said.
He noted that despite the technical expertise of Nigerian professionals, the country still lags in areas like real estate finance, sustainability, and investment management. Ojo also called for stronger ethics, continuous education, and data-driven decision-making to restore public confidence in the sector.
“Excellence begins with us,” he added. “My hope is that when we meet again next year, we won’t be hearing stories of scams or building collapses.”
Ojo further encouraged collaboration over competition, urging practitioners to leverage one another’s strengths for industry-wide progress. He also challenged regulators to lead with transparency and accountability.
At the end of the summit, participants agreed that achieving global relevance in Nigeria’s real estate sector requires sustained investment in professional development, technological innovation, and sound governance practices.
