Edo state governor, Godwin Obaseki says the state has issued over 30,000 Certificate Of Occupancy in the last 8 years.
He stated this during the commissioning of the Headquarters of the Nigerian Institution Of Estate Surveyors And Valuers in Abuja.
He believes with ongoing efforts to address challenges and capitalize on opportunities, the real estate business in Nigeria continues to contribute to economic development, job creation, and improved living standards.
The real estate industry in Nigeria has witnessed remarkable growth over the years, transforming into a dynamic and vibrant sector.
Despite it’s growth, the real estate industry in Nigeria faces several challenges including;Limited access to financing, inadequate infrastructure, land use issues, and bureaucratic bottlenecks are obstacles to development.
President of the Nigerian Institution Of Estate Surveyors And Valuers, Johnbull Anayevbo, believes these challenges also present opportunities for innovation and investment.
The rising middle class, increasing urbanization, and a growing need for affordable housing create a fertile ground for real estate entrepreneurs and investors to explore untapped markets.
For Edo state governor, Godwin Obaseki, he says Foreign Direct Investment (FDI) has played a crucial role in the modernization of Nigeria’s real estate sector.
International investors bring capital, expertise, and best practices, driving innovation and raising industry standards.
Improving market transparency and data availability will be the major focus in coming years, according to the governor.
