Business
Estate Valuer Urges Operators To Upgrade Skills
The national Vice President 2 of the Nigeria Institution of Estate Surveyors and Valuers (NIESV), Emma Wike has urged operators in the built industry to continually upgrade their professional skills to remain relevant.
He said that it was through involvement in programmes that could enhance their professional skills and competence, that their values would be retained.
Wike who disclosed this while speaking to aviation correspondents, yesterday, noted that the building sector was usually the most hit whenever the economy was passing through challenges like the recession.
According to him, the effects of the economic downturn most of the time result in scarcity of construction activities and then, loss of jobs.
“This makes it paramount for the professionals to continually upgrade their skills and competence to be relevant in the industry.
“Unless we stand our ground and maintain the standards of the profession, we may be swept away by the growing competition in the industry.
“For us to cope in terms of relevance, we will seek for ways to lift up the construction industry by continually embarking on researches and programmes that will enhance our skills”, he said.
The real estate expert posited that the call became necessary so as to sensitise operators in the sector because, according to him, many investors tend to shun the real estate sector in the period of economic downturn and challenges.
“Although the three essentials of life are food, clothing and shelter, but shelter comes last in most people’s scale of preference because it is only when one eats and is clothed that he may think of building or investing in housing”, he said.
Wike called on the federal Government to invest more in the construction sector so as to raise the number of those employed in the sector, and as well aid the country’s real economic recovery at the end.
Corlins Walter
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
