Naomi Gabriel —
Professor Timothy Nubi has at the Africa International Housing Show in Abuja, the Nigerian capital, advocated for the need for improved infrastructural development in the country. He categorized these infrastructures to include fiscal infrastructure, electricity and waste management.
He said that the necessary financial bodies and organizations, the mortgage systems and others are fiscal infrastructures that must be put in place before the country can have an industrial revolution for affordable cities.
The third infrastructure he emphasized to be the legal, in that ‘every activity in the real estate is driven by the law’, Nubi said.
“Until the National Assembly fix these laws, you can’t have mortgage when you don’t have foreclosure laws, he continued.
You can’t use mortgage when there is no law to back it up. All these laws must be in place to back it up. These are the infrastructures the government has to devout its time, it takes time to build infrastructure. We cannot have smart cities without having these infrastructures which are in the hands of the government, it’s the government that must drive them”, he added.