Business
Housing: Surveyor Blames Setback On Ineffective Mortgage
Worried by apparent
lag in the development of the Housing Sector in Nigeria, an Estate Surveyor and Valuer, Mr Vincent Ordu, has blamed the ugly trend on the absence of an effective mortgage system.
He said that the issue of effective mortgage system has been one of the major challenges that Nigerians have faced for a very long time now in trying to acquire houses.
Ordu, a member of the Nigerian Institution of Estate Surveyors and Valuers (NIESU) who disclosed this to The Tide in Port Harcourt, said it has become very unfortunate that mortgage industry in the country has been haphazard and that this has contributed to the problems in the sector.
“In other countries, especially the developed economics, people do not have to buy a house by cash-and-carry, mortgage is always available where individuals can purchase a house and pay over a long period”.
“This is what is missing here in Nigeria. The Mortgage Refinance Company recently set up by the Federal Government is an initiative in the right direction, and it is hoped that if this fully comes on board, it will provide a relief for Nigerians in an attempt to access housing”.
“It is expected that with the level of work done by government in the housing sector, given the various housing initiatives and partnership delivery platforms, Nigerians might start witnessing a boom in the housing sector and many will own homes”, he said.
He therefore urged stakeholders to put every effort towards ensuring that the issue of mortgage inefficiency is tackled so as to give Nigerians access to affordable homes.
Corlins Walter
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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