The Nigerian Institution of Estate Surveyors & Valuers has disclosed that Nigeria has one of the highest housing deficits in the world with only about 30 per cent of the population having access to decent housing.
Disclosing this during the 26th John Wood Memorial Lecture organised by the Nigerian Institution of Estate Surveyors & Valuers on the theme ‘Nigeria Contemporary Real Estate Crisis: A threat to Nigeria’s growth and development?’, held in Calabar, guest lecturer ESV Bode Adediji (PPNIVS) identified poor real estate management as a major threat to Nigeria’s development.
According to him, “Nigeria has one of the highest housing deficits in the world and statistics depict that only about 30 per cent of Nigeria’s population have access to decent housing.
“The real estate industry is unorganised, [with] low investors’ confidence and poor access to capital. Lack of adequate housing for the growing population also remains a major challenge in Nigeria,” he observed.
He called on the government to create more mortgage banks as a solution to the housing deficit and also develop access to a harmonised and centralised database in the sector.
Also speaking, Professor Ben Ayade, represented by the Speaker of the Cross River State House of Assembly, Eteng Williams, commended surveyors in the country for instituting the lecture series.
He enjoined the surveyors to insist on standards in building projects, pledging the support of the House of Assembly in this regard.
Speaking earlier, the President of the institution, ESV Roland Abonta said this year memorial lecture of the first President of the institution, John Wood Ekpenyong, marks the 50th anniversary of the association.
He said the lecture had been an intellectual event which has over the years addressed the challenges and prospects of the real estate industry, with recommendations to both government and the private sector.
He called on the newly-inducted 44 Fellows of the institution to be ready for higher responsibilities, saying they must maintain high ethical conduct and standards.
In the same vein, the Chairman of the event, Chief Emeka Onuorah, called on the Fellows to never get tired of service, noting that leadership is a sacrifice and service to humanity.
In his response, the Cross River State Commissioner for Lands, Professor John Ofem Inyang, said surveyors have a huge role to play in development.
He said the government through his Ministry will partner with surveyors to ensure structures are well built.
Source: Daily Sun
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