NIGERIAN TRIBUNE (APRIL 18 )

Headline: Genuine Realtors Still in Business of Real Estate Investment —Godiva

The CEO of Best Source Homes and Properties Ltd, Ambassador Ogunmiloye Godiva in a press conference in Lagos, stated that genuine real estate firms and realtors still exist irrespective of the presence of fraudulent real estate firms and realtors who try to create fear in the minds of intending investors.

She encouraged people to invest now, especially in Lagos Island where the offer is still cheap. While noting that the real estate market is a great avenue to build wealth at any stage of one’s life, she advised people to start investing in affordable and fast-developing places like Epe, and Ibeju Lekki adding that Lagos as a whole is a prime choice for real estate investment and no place is too far to invest

She admonished that fear of scammers should not stop one from investing but rather, caution should be applied by intending investors

PUNCH NEWSPAPER (APRIL 24)

Headline: Land Use Act Promoting Housing Scam, Racketeering NIESV

The Nigerian Institute of Estate Surveyors and Valuers has stated that the procedure for obtaining a C of O and Governors Consent is now serving as an enabler for land grabbers and other dishonest activities that affect the sector.

At the maiden award ceremony of the institution held in Abuja, the president of the institution Johnbull Amayaevbo, called for the revocation and removal of the act from the constitution in order to enable speedy review.

He stated that the circumstances that warranted the enactment of the Act in 1978 have changed and therefore need to be reviewed to reflect the present-day realities. He further remarked that the Land Use Act inhibits housing provision, and developmental efforts by private investors and has given room for unscrupulous activities like housing scams, land grabbers, and land racketeering.

Reiterating the alarming increase of the activities of land grabbers, Punch newspaper reports that there is a noticeable rise in the activities of land grabbing, illegal development, and online housing scam in Abuja (FCT) which has deepened the calls from concerned stakeholders on the FCT ministers to call for a state of emergency on land racketeering.

PUNCH NEWSPAPER (APRIL 24)

Headline: Weak State of Economy Raises Real Estate Investment Opportunities

The recent massive migration of Nigerian youths commonly known as the JAPA syndrome, majorly caused by the low level of unemployment in the country has created a massive brain drain in various sectors of the Nigerian economy and raised the concern of many stakeholders in the various sectors.

Some real estate stakeholders have opined that there are many real estate opportunities that those migrating out of the country could have explored and taken advantage of.

According to the CEO of Interstate Architects, Olusegun Ladega, the recent migration of the country’s labour force has dwarfed the growth of skilled youths. He lamented how the JAPA syndrome has caused him resources he used in developing talents without reaping the benefits.

To the Senior Pastor of Kingsway International Christian Centre, Matthew Ashimolowo, the JAPA syndrome is a form of Reversed Slavery

Reiterating this, the CEO of Pelican Valley, Dr. Babatunde Adeyemo, advised the Nigerian youths to stay back in the country and explore opportunities in the real estate market. He added that the structure outside the country does not allow Nigerians to be rich but rather to live a basic life that can be obtained here in the country. He further stated that those countries do not have a long-term plan for Nigeria but only to brain drain the country to their advantage. He further noted that there are a lot of opportunities in the real estate sector but many young

Nigerians lack the patience.

Speaking about the opportunities in real estate, the CEO of Riel Homes, Dr. Kolade Adepoju, asserts that the

money spent traveling abroad can be invested in the real estate business to yield future profits

Charles Chiemezie a real estate practitioner also reiterated this fact when he said that the real estate sector is a

gold mine but unfortunately, many Nigerian youths are too lazy to wait and explore its opportunities

These real estate stakeholders advised that the huge amount of money youths are investing in their JAPA can as

well be invested into real estate to yield returns

REAL ESTATE NEWS HIGHLIGHTS OF APRIL 2023

REAL ESTATE NEWS HIGHLIGHTS OF APRIL 2023