SEC Set to Partner Real Estate Stakeholders to Reduce Housing Deficit

In a bid to reduce the housing deficits in the country and to harness full potentials in the real estate sector, the Securities and Exchange Commission (SEC) has said that it will collaborate with stakeholders in real estate investment.

Director-General, SEC, Mr Lamido Yuguda, gave this assurance during a meeting with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Abuja.

According to a statement, Yuguda said the SEC values the service that NIESV provides to the capital market and the nation. He said there is a large room for greater collaboration between the commission and the institution.

“There is a renewed focus on real estate investment trust now; we are getting to see how the sector contributes more to our gross domestic product by facilitating the trading of assets in the real estate sector. 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”.

The President and Chairman of Council, NIESV, Mr Emmanuel Wike, commended the SEC management for the contribution the capital market was making to the economic development of the country.
He also restated the need to strengthen collaboration between SEC and NIESV.