FG SEEKS COLLABORATION WITH ESTATE SURVEYORS TO BOOST REAL ESTATE SECTOR
The Vice President of Nigeria, Professor Yemi Osinbajo, (GCON), has called on the Nigerian Institute of Estate Surveyors and Valuers (NIES) to consider ways to partner with government at all levels to optimize benefits in the real estate sector for the benefit of the nation.
Represented by the Minister of State for Works and Housing, Engr. Abubakar D. Aliyu (FNSE), the Vice President, made the call while delivering his key note address at the 51st Golden Jubilee, Annual Conference of the Institute which took place at the International Conference Centre Abuja on Thursday June 24, 2021.
Osinbanjo listed potential areas of partnership to include: the Buhari led administration’s vision to take 100 million Nigerians out of poverty in ten years since government is looking up to investment in infrastructure as a tool to realizing this vision.
He mentioned the National Social Housing Programme which is a component of the national post –COVID Economic Sustainability Plan as another area of partnership. The Vice President explained that the plan was created to accelerate on-going efforts by the government to improve access to social housing. He added that government intended to stimulate local production by engaging small and medium sized construction firms to produce construction inputs such as tiles, nails, doors, windows and paint as well as building affordable houses across the country.
Professor Osinbanjo who disclosed that the Nigerian Mortgage Refinancing Company (NMRC) was created to develop the secondary market to refinance mortgages asked NIESV to undertake advocacy with stakeholders both in the public and private sector to promote legislation that will provide support for the company.
The Vice President enumerated the achievements of this administration in infrastructure development to include: the commencement of the 156Km Lagos –Ibadan rail service, completion and commissioning of 327 km Itakpe – Warri Standard Gauge Rail after 33 years of abandonment by previous administrations, construction of Kano -Maradi railway, commencement of work on Port-Harcourt Maiduguri railway lines, on-going negotiation on the Ibadan – Kano Standard Gauge Rail projects and the Abuja Light Rail project which was completed in 2018.
On roads, he said the government created the Presidential Infrastructure Development Fund (PIDF), investing over a billion dollars in three flagship projects: the Lagos Ibadan expressway, Second Niger Bridge and the Abuja –Kaduna roads.
In his speech, the Honourable Minister of Works and Housing who was represented on the occasion by the Director Special Projects Unit of the Ministry, Dr. Aisha Ndayako Mohammed revealed that conscious efforts have been made with respect to accessibility, affordability and security of land tittles.
Fashola disclosed that between July 2018 and May 2021, the Ministry of Works and Housing had processed and issued 4,628 Certificates of Occupancy and 2,230 consents to secondary land transactions, adding that these titles are used by holders to access investible loans to start new businesses or grow existing ones thereby expanding the economy.
Fashola also disclosed that the Ministry is engaging Estate Surveyors and Valuers in implementing the valuation of Federal Government assets for purposes of International Public Sector Accounting Standard (IPSAS).
In his welcome address, the President of the Nigerian Institute of Estate Surveyors and Valuers, Sir Emmanuel Okas Wike said the Institute had positively and progressively impacted the Nigerian Landscape with several achievements and contributions. Sir Wike said the conference would provide opportunities for networking, expansion, deepening of knowledge and professional development.
Goodwill messages were delivered by the former President of Nigeria, Dr. Goodluck Jonathan, the Governor of Ondo State Rotimi Akeredolu among others.
