Naomi Gabriel —
The Security and Exchange Commission (SEC) through its Director-General, Lamido Yuguda at a meeting with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Abuja on Wednesday, has assured of strong backing of the commission in reducing housing deficit in the country.
It also said that the agency looks forward to having stakeholders explore the capital market in tackling housing problems.
“There is a renewed focus on Real Estate Investment Trust (REIT) now, we are getting to see how the sector contributes more to our GDP by facilitating the trading of assets in the real estate sector, Yuguda said.
“I think there is a huge room for collaboration, you have a very big role in the real estate sector. Nigeria’s population is growing fast and we need everyone in Nigeria to have a roof over their heads. We do not want people to end their careers living in rented accommodation, people need to own their own houses because there is a lot of security and social value in owning your own house.
“You are very important as you operate in an area that is very important to our economy. You have a crucial role to play in the capital market especially as we focus on the Real Estate Investment Trust sector. You also have a huge role to play in the larger housing sector as at the moment we have not been able to harness the full potentials in that sector,” he added.
President and Chairman of Council NIESV, Mr Emmanuel Wike, while commending the management of SEC on the huge contribution the capital market is making to the economic development of the country, he solicited for the strengthening of collaboration between the agency and his institution.