Lagos govt urges collaboration in real estate sector
By Lydia Ngwakwe
Mrs Olayinka Abdul, General Manager, the Lagos State Materials Testing Laboratory Agency (LSMTL), has urged collaboration between government agencies and industry stakeholders to streamline regulatory processes in the real estate sector.
Abdul made the call at the 33rd Lagos builder’s conference, organised by the Lagos Chapter of the Nigerian Institute of Builders (NIOB) on Thursday in Lagos.
Speaking on the topic: “Impact of Regulatory Environment on Real Estate Sector,” she urged policy makers and industry professionals to work together to create a regulatory framework that would foster innovation and investment.
Abdul said: “Let me categorically say that in Lagos State, we understand that regulations must evolve to meet the realities of our growing population and urbanisation.
“Thus, as the General Manager of the LSMTL, I am aware of the importance of standards and quality in materials that form the backbone of our construction industry.
“That is why our agency is committed to ensuring that the materials used in building and infrastructural development, are of the highest quality.
“This initiative not only protects the investments of developers, but also ensures the safety and satisfaction of the end-users.”
She also emphasised the role of the agency in ensuring the quality of materials used in construction projects.
Abdul stressed the need for a balanced regulatory framework that promotes safety, quality, and innovation in the real estate sector.
She acknowledged the challenges posed by bureaucratic bottlenecks, access to quality materials, and outdated regulations.
The general manager emphasised the importance of incorporating technology into the regulatory framework to improve transparency and accessibility.
She reaffirmed the agency’s commitment to ensuring the highest standards of quality in construction materials.
Abdul noted the crucial role the agency had been playing in ensuring the quality of materials used in construction projects through rigorous testing and quality assurance.
The Chairman, NIOB Lagos Chapter, Mr Thomas Adeoye, described the conference as a platform for fostering collaboration and cooperation among various stakeholders to achieve a more effective and impactful real estate investment landscape.
Adeoye emphasised the need for a long-term perspective beyond the immediate conference, highlighting the goal of shifting the focus toward a more productive and cohesive approach to real estate investment and finance in Nigeria.
The News Agency of Nigeria (NAN) reports that the conference has the theme: “Breaking Barriers and Empowering Change in Nigeria’s Real Estate Sector: Process and Control.”
The aim of the meeting is to strategically and decisively propel the Nigerian real estate industry forward, in a sound and practical shift towards breaking barriers inducing challenges in the Nigeria’s real estate clime.
It’s also aimed at empowering changes that will revolutionise the real estate industry to match-up with global practice for local and international investment participation.
The event was attended by stakeholders in the built environment, royal fathers and allied professional bodies, among others.(NAN)(www.nannews.ng)
Edited by Chinyere Joel-Nwokeoma
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