Real Estate: Stakeholder Urges Indigenous Participation


An indigenous player in the built industry, Mrs Muna Shonibare has called for indigenous participation in real estate to ensure growth and profitability.
Shonibare made the call in an interview with The Tide in Port Harcourt, Monday.
She explained that in view of Nigeria’s current industrialisation initiative, indigenous participation in the non-oil sector, especially the real estate industry, is key to moving the nation’s economy to an enviable position.
Shonibare, an interior decorator, noted that to rescue the industry from multinationals, indigenous players in the built environment need to form formidable alliances with the right partners in order to be relevant in the value chain.
She observed that Nigeria currently has hurting reputation of being corrupt and inefficient and tasked business owners on reorientation of their mindset, “if we must be a force to reckon with in the business world”.
She further explained that Nigeria is a country portrayed as being without the rule of law and tasked the government on friendly policies and regulations as well as good governance and transparency.
Shonibare expressed regret that home ownership for the average Nigerian is a mirage, saying that affordability was the bane in bridging the housing gap in the country and added that “affordability was the responsibility of government, they should also ensure that home ownership by the average Nigerian is made possible by removing the bottlenecks that are their albatross”.


Tonye Nria-Dappa