Emeka Justin Anyiam is an entrepreneur and philanthropist, as well as the Chief Executive Officer of PWAN ELITE, a real estate company based in Nigeria. With a visionary leadership style, Mr. Anyiam has played a pivotal role in shaping the real estate landscape in the region, demonstrating a commitment to excellence and innovation in the industry. His role as the Chief Executive Officer of PWAN ELITE has left an indelible mark on the real estate landscape in Nigeria. Beyond his entrepreneurial pursuits, he is also recognized for his philanthropic endeavors, reflecting a dedication to making a positive impact on the community. In this interview with Daily Sun, he fielded questions on ways of developing and improving the real estate in Nigeria and what should be done to make real estate affordable to majority of Nigerians. He said real estate is really closing the gap of unemployment through engagement of many as marketers who make their living in the real estate companies in the country.
Excerpts:
What kind of development do Nigerians see in real estate?
Real estate is very vast and so, what real estate brings to Nigeria are development, luxury, comfort and affordability. In Nigeria, because of the level of exposer of the operators who have gone abroad and seen what obtains in the civilized world, the real estate in Nigeria has developed in such a way that it can compete favourably with what is going on in the first world countries. When you think of esthetics, complexities, solidity and esotericism, you will understand what I mean when I say Nigeria real estate is measuring up positively and globally too. If you get to some of the PWAN Estates, you will understand what I mean when I said esotericism. We, in PWAN empower people making sure that by paying your contract bill, you will get the taste you will be surprised at. What we do is getting the lands in areas that are not developed and develop them and bring people to live
there. Of course, what we do is help people to secure accommodation and have shelter over their head. We in this way help in developing the country.
Do you think real estate is closing the gap in unemployment?
You know, job opportunities are very scarce in Nigeria. So, when we establish something like PWAN, we help in pulling a lot of unemployed youths and other age segments of the society out of job market. Here, you see a lot of people struggling and putting efforts in the marketing of the PWAN estates and through that; they make their living even in a bigger way. The real estate is really closing the gap of unemployment because those who do not have the opportune moment to get engaged could have themselves engaged in the real estate. We bring in network marketing and give the people the opportunity to make their living through the real estate. By that, a whole lot of people who never thought of going into real estate are empowered to make their daily bread in real estate.
Why do we have unoccupied estates everywhere while majority of Nigerians lack shelter?
Yes, there are a lot of estates springing up here and there, yet we cry of housing deficits because of many factors. There are also many built over the years that are still lying unoccupied. The factors include that most of the unoccupied houses are too costly for those looking for house. Some of the houses are built with strong currency such that the poor that fall within the majority of those looking for housing and shelter cannot afford to pay for them. Again most of the housings are built with money the owners did not suffer to make. That is why they don’t care whether the properties are sold, rented or are left fallow. Most of those estates are built by civil servants who are waiting until they retire, else, people will whistle-blow them and the EFCC will go after them. Again, some people who made money in reckless ways can go and dump such money in real estates. That is why some
people front the caliber of young people you will be asking when this person made this kind of money. If you suffered to make money, you will be interested to make profit out of the money. Your money exposes you because if people don’t know what kind of job you are doing, yet you are making huge investment; your money will become suspicious. Some of the buildings you see unoccupied are luxury homes that are not within the income of those looking for houses to rent or buy.
What could be done to reduce real estate rentals in Nigeria?
What could be done to reduce cost of rentals in real estate is to reduce the cost of buying building materials, reduce cost of obtaining government papers, increasing local content in building materials in the country. If you have most of the building materials manufactured in Nigeria, then the cost of dollar to travel to import building materials will reduce. If the building materials are manufactured in Nigeria, the excise duties paid for this and for that will be removed and if they are removed, it will go to effect the much the price will be pegged. If these factors are checked, then properties will be within the reach of the poor masses. Again, it seems that government purposely wants to have division between various segments of the society and also wants the poor masses to suffer thinking that is the only way they can obey government rules. Nigeria is blessed with everything you can think of. Is it human resources; is it mineral resources or material resources? The problem is that the rich will not want the poor to get up, rather they will want them to remain poor otherwise, there are a lot of things government can do to ameliorate the sufferings of the people. This includes reducing the prices of those things we have and produce in the country.
Building collapse has become a normal phenomenon in Nigeria; do you think it could be curbed?
Building collapse in Nigeria will continue to occur because the laws checkmating the incidence are not strong. Those government agencies do not show seriousness in the job. How can a building collapse today, you condemn it, tomorrow it will happen again, and next tomorrow you still experience it yet no stringent action taken to forestall its future occurrences.
If it were to be a private person that his policies are being flouted like that, do you think the person will not pull the carpet? A lot of things are going wrong and because the top in the society are not affected, nothing is done about it.
Each time a building collapses, the poor man will be the one that will die. The rich who has the money and may have insured his building will continue his exploits while the poor go gnashing their teeth. Building collapse occur because of bribery and corruption. If the government agent did not take bribe and look other ways while government laws are flouted, he will stop a building given permission to be three storey but decided to make it five levels. It is in defiance of government rules that buildings collapse. If I have the power to punish the defaulters, the building collapse will have stopped since. Again, when professionals are relegated to the background and quacks are being used to carry out projects they are not experienced in, what will you expect? The quacks will charge less while the professionals will charge higher so the client will go for the cheaper contractor who may not know the job.
Do you think government policies in real estate hinder development in the sector?
There are differences between laws and implementation. To make law is one thing but to implement the law is another thing altogether. Even in the family, there are laws, in the schools there are laws, in the churches there are laws and even in the mosque there are laws. The laws are the rules guiding participation within the group one finds himself. The problem is that some laws are draconian, some laws are meant to fight one’s enemies while others are to checkmate excesses of men of the underworld. Government laws are also in the same way.
Government laws as it relates to Land Use Act of 1978 are no longer feasible now. Government needs to amend it because it affects the real estate development in the country. Some laws are meant for certain people even though it will not be made open for the layman to see.
Although, we complain about the land use act, there are other laws that we must obey if we should get the environment workable. The laws that one should not build on water ways, along drainages and the laws prohibiting one from building close to the main road are for our own good. But you see people building and blocking main road, blocking water ways and encroaching where government prohibited. Such is bad and should not be supported.
How do you think the ‘Omoniles’ could be checkmated?
To check Omoniles, you will first of all do your own diligence in the land that you acquired. When you must have recorded a good title to government specification, I also think government will have to implement its own part of supervision in every aspect of property handed over to you. In most cases, especially in Lagos, government should supervise its signature. Whatever government pens its signature, it should make sure it supervises it.
Government can also help in checking the excesses of land grabbers who create confusion by reselling an already sold land. I wonder why government will see an albatross living with the people and still allow it. Why should Omonile be keeping watch on those who bought land? When you want to do foundation, you pay, when you want to start setting blocks, you pay.
When you leave lintel level, you pay. When you want to roof, you pay. When you want to do any single job on your land, you pay the Omonile and government feels it is proper? Government allows all these because they used the Omoniles to prosecute their elections. It is highly condemnable and efforts should be geared towards discouraging it.
Do you think Mortgage finance is working in Nigeria?
Mortgage as far as I believe is not working in Nigeria. A situation where you want to borrow money and there is nowhere to borrow from is equal to where there is none at all. Federal Government is not serious with the mortgage financing. When I was younger, I used to hear somebody who wants to construct factory or build a house that always runs to the Federal Mortgage Bank to borrow money. At a time the Federal Mortgage Bank was only giving money to relations of those managing the bank. Because they were only giving to their relations, it became troublesome chasing the borrowers around. This could not sustain the business of borrowing so the bank became comatose. If government is interested in the welfare of the common man, the Federal Mortgage Bank will have since been revived and made to serve the people optimally. But because the aim is not for the interest of the people, they banks are not legislated upon to give impetus to its functions to the public. What you see and hear every time are promises and promises that does not see the light of the day.
Could you please appraise cost of construction in Nigeria?
Cost of construction in the country is very high. This high cost is partly caused by the Federal Government who does not wield the big stick when it is necessary. Federal Government knows that if one wants to build, one would need government support in various ways. If not in the procurement of papers, it will be in signing of C o O and all that. But the legitimate amount you will pay will not be made public thereby creating window for exploitation by fraudulent government agents who come to manipulate the exercise. When you want to build your home, this government agency will come, that one will come all demanding one thing or the other with flimsy excuses that are not tenable. Cost of providing sand, cost of sand filling the site, cost of buying wood, cost of fittings, cost of imported materials to be used especially this dollarization period are always nothing to write home about. Until government firms the local currency up, cost of everything will always be high.
Why do we have so much fraud in real estate with regards to buys and re-buys; rents and re-rents of properties, apartments?
Fraud is too much in the real estate because it is a market where everybody wants to buy and sell. Most people who want to rent apartment will not start the process until desperation sets in. Most often, people will start looking for apartment when they are under pressure either from landlord giving them quit notice or flood ravaging the area. Under this situation, people will become desperate to get apartment today and tomorrow and when your agents notice you are in pressure, they will start to manipulate you. By that way, when they tell you this house is hot, some people have paid some money but the landlord only needs one that paid complete. When you rush to pay, you may be paying for an apartment someone wants to park in the next day and you are making arrangement to pay. The next day you come in, you will be beholding a family already settled. By that time, you may look for your agent who collected money from you without seeing him.
Again, someone who hit some money could look for land to buy and an agent, through an Omonile could show him a land already bought or one under dispute, because he has some coins in his pocket, he will just pay. After paying, the day he will like to start developing, he will be confronted by another man who presented a certificate of ownership dating about ten years back while his receipt is only three months.
When he will be looking for the man that sold the land to him, he may be chasing shadow as the man has collected the money and disappeared into thin air. It is wrong to be in a hurry while looking for apartments because you will become susceptible to an awaiting fraudster.
Government is no longer building estates, what do you think are the reasons?
That government is not building estates is because government agents have turned themselves into internal contractors. Government will like to build like 16 units and vote like N600, 000,000:00 for it. You will see staffers of the same ministry coming through proxy to bid for the contract. Because they are the one advertising and same one bidding, the cost will be high and yet the quality will be very low and there will be no way to get the contractor for prosecution because the staffers masqueraded and won the contract. Again, government of nowadays are not interested in the welfare of the people because if they do, they will be building estates in all the states of the federation and that will help to decentralize urbanization. Government is only good in pronouncing what they cannot do during electioneering campaigns to make the electorate feel their interests will be accommodated when the campaigner eventually gets into office. It is not surprising that hardship is growing every day with nothing on
ground to fulfill the promises made during the campaign.