Business
NIoB Makes Case For Effective Regulation In Housing
The Nigerian Institute of
Builders (NIoB) has said that the proper development of the housing sector will be guaranteed when there is a clear housing policy or law to regulate the activities of operators.
Making this known to Journalists in Abuja, the Publicity Secretary of the Nigerian Institute of Builders, Mr Danjuma Abalaka, said that the ugly trend that is being experienced in the housing sector is due to lack of effective legislation guiding activities in the housing sector.
Abalaka said the non-passage of the Building Code by the National Assembly had made it difficult for effective regulation of the activities of operators in the housing sector.
He said that the institute has a bill on building code, which has been at the National Assembly for so long, adding that the Institute will always be at the fore-front in ensuring proper development of the housing sector.
“If the bill can be passed, it will help to regulate and monitor the activities of both professionals and private developers.
“So, it is when this law is in place that the issue of high rent can be checked.
“NIoB has been tasking government to industrialise the country so that the cost of most of the building materials will be affordable. The Ajaokuta Steel Company is still lying fallow after so many years.
“High cost of building materials and reinforcements is another problems confronting people who plan to build their own houses. If the government can revitalize our industrial base, the cost of building materials will come down and many people would be able to build ten houses,” he said.
The NIoB image maker also said that high cost of rent makes it difficult for people to purchase these houses, as it is also difficult to access mortgage loans.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.