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From Sola Ojo, Kaduna
President and Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), ESV Johnbull Amayaevbo on Saturday called for the urgent review of the 1978 Land Use Act as a child of necessity if the Country is ready to address its 21 million housing shortage.
“A major hindrance to housing development is the Land Use Act. The Act is overdue for a comprehensive review. That is why we have been calling for a review of the Act, and this cannot easily be done until it is removed from the Constitution”, he said.
Johnbull who stated this in a press conference at a hotel in Kaduna noted that the role of housing in healthy living, security, and social well-being cannot be overstated especially in an emerging economy like Nigeria.
He frowned at the current statistics that real estate contributes less than 10 percent to the Gross Domestic Product (GDP) when the Country can do better.
To him, housing shortages provide opportunities for housing and real estate development and if properly harnessed and explored, real estate would replace crude oil as the economic engine of the country and take charge of driving economic growth.
He added that the industry would not only facilitate the building of the nation, but it would also create jobs, incomes for families, and wealth for the nation saying the potentials are there, waiting to be unlocked.
“There is an urgent need therefore to address the housing challenge in the country and plan for future housing
delivery. Concerted and pragmatic approaches are needed to make it happen.
“Nigerian Institution of Estate Surveyors and Valuers is willing to collaborate with the government on this. We have completed an assessment of Land Titling Regulation across the states of the federation.
“We have shared with the Ministry, real estate practitioners, investors, and stakeholders the document which we are persuaded will go a long way in facilitating titling, documentation, and real estate development and which will assist developers and investors to understand the requirements and processes for obtaining land titles in the
Country”, he said.
He however called on the Federal Government to come up with policy thrusts that would enhance and accelerate housing delivery, particularly to the less privileged within the shortest possible time.
“Such policies should be aimed at strengthening institutional structure and framework at all levels of government, land titling procedure, the mortgage system and must also incorporate the private sector and professional organisations in the built sector”, he added.
