Real Estate Operators Welcome Federal Housing Reforms, Urge Independent Verification and Sustainable Financing | Prestige Real Estate News
ABUJA — Real estate operators have expressed support for the Federal Government’s proposed reforms to the housing sector, describing them as a step toward stronger regulation, improved buyer protection, and greater investor confidence. They, however, called for independent verification of construction milestones and the provision of sustainable financing for developers to ensure effective implementation.
Speaking at an industry forum in Abuja on Thursday, stakeholders said the framework, if properly executed, could address long-standing structural challenges in housing delivery.
The Chief Commercial Officer of Mixta Africa, Mr. Tola Akinsulire, said licensing requirements and escrow protections were critical interventions in a market where consumers have historically borne disproportionate risk.
“Licensing and escrow protection are important interventions in a market where consumers have too often carried significant risk. We welcome the direction of the Federal Government and believe it can materially strengthen confidence in the housing sector,” Akinsulire stated.
He further advocated that funds tied to construction milestones should only be disbursed following independent verification by qualified built-environment professionals, underpinned by clear certification standards and a verifiable audit trail.
“The question is not only where the buyer’s money sits, but what evidence is required before that money can move,” he added.
Also speaking, the Chief Executive Officer of Leadforte Homes and Properties, Mr. Bamise David, said the proposed reforms could help resolve key constraints to housing delivery, including high construction costs, limited access to long-term financing, weak land administration, and the growing national housing deficit.
David noted that the reforms were expected to enhance transparency across the housing value chain, strengthen regulatory oversight, and encourage increased private-sector participation in the provision of affordable housing.
Industry participants at the forum stressed that the success of the policy would depend on effective implementation, independent project monitoring, and access to appropriately structured construction finance.
They concluded that these measures would be essential to ensuring the delivery of quality, affordable, and durable housing for Nigerians.
