Stakeholders of the Nigerian Real Estate Sector are pushing for improvement on the adequacy in the collation of data in the Housing industry. This offers an explanation as to why the Central Bank of Nigeria (CBN), as represented by the Department of Statistics, the Real Estate Developers Association of Nigeria (REDAN), The Federal Ministry of Power, Works and Housing in collaboration with other stakeholders, are set to organise a conference for stakeholders on National Real Estate Data collation and Management Programme. The conference has been scheduled to hold on Thursday, September 28, 2017 at he Yar’Adua Centre, Abuja.
The conference will be focused, according to a press release by REDAN, on making a comprehensive collation and management of data for the planning and decision making processes related to reconstruction, construction and post-reconstruction activities in the Real Estate Sector across the country. Specific areas in the conference will include land administration practices, formal and informal housing activities, housing affordability mapping, as well as any other key indicators that will aid effective policy and investment decision making.
The conference, which has been fixed to hold for one day, will be declared open by the Minister for Power, Works and Housing, Mr. Babatunde Raji Fashola. Guest speakers in attendance at the conference will include the Commissioner for Lands and Housing, Registrars of Deeds, Directors of Lands, Directors of Town Planning and Surveyors General from the 36 states and the Federal Capital Territory (FCT). Also, the chairpersons of stakeholder agencies and chief Executives of private organisations involved in the programme including the Federal Mortage Bank of Nigeria (FMBN), Mortgage Bankers Association of Nigeria (MBAN), Building Materials Producers Association of Nigeria (BUMPAN), the National Population Commision (NPC), Gessellschaft furInternationale Zusammenarbeit (GIZ), the World Bank/Growth and Empowerment Project (GEP), National Bureau of Statistics (NBS), the Federal Ministry of Health, Value Chain Consusltants, and Pison Housing Company, will be participating and sharing ideas at the conference. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of Nigeria and other housing associations also expected to be in attendance at the conference.
The aim is that at the end of the conference, the organisations present ought to fully understand the objective of the data improvement programme, which is the provision of accurate and realistic data on the types of housing, mortgage facilities/institutions, occupied/unoccupied houses, tenement rates, selling/ renting prices, skilled manpower availability, cost of construction, prices for varying categories of houses in various locations and operational challenges. The information provided for the database using the reinforcements established at the conference are expected to serve as a catalyst for improvement in the database of the sector.
Among other important data that are to be collected are the cost of obtaining title documents, access to land and building materials, the market prices for building materials, the housing needs of various levels of income earners and families in the country, affordability profiling, housing deficit, housing development prospects, jobs created and potential job opportunities in the sector.
The above would have been determined or put together and duly disseminated for the easy access of economic managers, policy makers for planning, investors and international development partners for survey. At the end of the exercise, it would be a worthwhile legacy that would be handed to the housing industry for regular update for the purpose of maintaining the program, and sustaining its benefits to stakeholders of the Real Estate Sector.
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