Ooni advocates more investment in real estate for economic rebirth

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Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II

By Prince Osuagwu

The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has advised Nigerians to go into real estate business as a way to build both personal and national economies.

The Ooni said that real estate does not only open up environments but also build strong economies.

He made the call at the 2020 Maiden Edition of Real Estate Developers Association of Nigeria, REDAN, Award in Lagos.

The Ooni, who was the Royal Father at the event, said the achievements of REDAN Lagos, within the short period of time it came into being, had shown that real estate is the business for real economic transformation.

He urged the group to strive for more achievements, promising to give his support any time he is called upon.

Also at the event, the Lagos State Government promised to collaborate with the Real Estate Developers in its quest to transform Lagos into a megacity and 21st-century economy.

READ ALSO: Lagos caution developers against buildings without approvals

Lagos State Commissioner for Physical Planning and Urban Development, Dr Idris Salako, who made the promise, said Lagos will always support ideas that would make the state a mega economy, adding that REDAN’s activities fall into such ideas.

He said: “We are here to show our love and to collaborate with you on this award night.

“We sincerely believe in what you are doing in Lagos State and we appreciate all efforts put in making Lagos a 21st century economy that is open to investment.

“We will continue to identify with you because we know that you are a very critical stakeholder in the development of Lagos State.

“Housing construction is seen as a very critical factor in any economy and we really appreciate you.”

Salako, however, appealed to the developers that even though government demands may sometimes appear heavy, they should always voluntarily comply to the housing plans of the state because doing so will make the state’s work easier and cement the collaboration both entities have entered into.

Earlier, the Lagos Chairman of REDAN, Mr. Bamidele  Onalaja, thanked the governor for supporting and partnering with the real estate sector in the state.

He added: “Together  we shall continue to strive, work harder and working closely with the government, we shall drastically reduce the housing deficit in Nigeria.”

Vanguard News Nigeria

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