FIABCI Nigeria Canvasses Improved Access to Affordable Housing

Detached three-bedroom apartments on a housing estate in southwest Nigeria. Photographer: Pious Utomi Ekpei/
  • FIABCI Nigeria Canvasses Improved Access to Affordable Housing

The International Real Estate Federation, FIABCI Nigeria, in line with the global mandate of the association, is clamouring for affordable housing for all.

The group said nothing much had been achieved on affordable housing in Nigeria, adding that it would be introducing the Nigerian property scorecard, a global benchmark for real estate investments, in its 2019 Prix D’Excellence Awards.

FIABCI Nigeria stated that the Nigerian property scorecard, had been fashioned after the International Property Markets Scorecard methodology, developed by the Centre for International Private Enterprise and IHC Global.

The President, FIABCI Nigeria, Mr Adeniji Adele, said the scorecard was like bringing out the property aspect of the ease of doing business.

“FIABCI Nigeria wants to be the custodian of the property scorecard in Nigeria; it will be a continuous thing until stakeholders in the country get it right,” he said.

The Vice President, Mr Gbenga Ismail, said it had become important to attract foreign funds into the property market.

According to him, there is a need to bring in significant number of investors into the industry but the business environment must also be made transparent to encourage investments.

He said, “The scorecard will give us the core elements that Nigeria must score high on. In spite of the challenges of doing business here, there are a lot of opportunities. We just need to change our mindset.

“The core elements of the scorecard have financial transparency because we have to fight for financial stability too. It will help us to raise questions to the policymakers who will be present to address investors’ confidence.

Ismail said apart from the scorecard, the programme slated for January 25, with the theme ‘Ease of doing business’, would also feature a business forum.

He said the Senior Special Assistant to the President on Industry, Trade and Investment in the Office of the Vice President, Dr Jumoke Oduwole, would be the guest speaker while the Lagos State Commissioner for Housing, Mr Gbolahan Lawal, would be the special guest of honour.

He added that the Chairman, Honeywell Group, Dr Oba Otudeko as well as the World President, FIABCI International, Mr Assen Makedonov, among others, would also be in attendance.

Ismail stated that professionals who had distinguished themselves in affordable housing, hotel, retail, sustainable development, mixed use, residential housing both mid-rise and high-rise, office and industrial development, among others, would receive awards for their contributions to the real estate industry.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: samed@investorsking.com.

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