On Friday April 21, 2017, the Real Estate Group of the Lagos Chamber of Commerce and industry was officially launched at Four Points, Sheraton Hotel, Oniru Chieftaincy Estate, Lekki Peninsula, Lagos.
The inauguration ceremony had all the who-is-who in the society in attendance, plus the Captains of Industry, real estate practitioners, manufacturers, experts and the press.
The Chairman of Real estate group of the Lagos Chambers of Commerce & Industry is Otunba Olumide Osunsina, the MD of Megamound Investments Limited, while Chief (Dr.) Nike Akande, who is the President of Lagos Chamber of Commerce and Industry is one of the members of the group. She was also the Chairman of Inauguration ceremony. The Commissioner for Housing for Lagos State, Prince Gbolahan Lawal was the Guest Speaker, but he was absent. He sent Babatunde Oyegbola to represent him.
There were two topics prepared for discussion, and 3 discussants were also made available to do justice to it. The 3 discussants were: Mr. Bola Ogunsola, former MD, Federal Mortgage Bank, Mr. Ben Akaneme, MD of Imperial Homes Mortgage Bank Ltd (represented by Bayo Shobajo), and Mr. Abiodun G Kamildeen, past President, American Society of Safety Engineers, Nigeria Chapter. Also present were members of the Lagos Chamber of Commerce and Industry.
The first meeting was tagged “First Business Clinic of the group” and the theme of the inauguration is; Standardization and Sustainability” and Health Safety Management, as it relates to the industry.
The sponsors of the ceremony are: Megawound Investment Limited and Remax Realtors Nigeria. The opening remark was by Otunba Olumide Osunsina, who thanked Chief Dr. Nike Akande for coming and honoring the invitation. This simple and eloquent man describes real state as land and any development on it and he further read out 4 types of real estate, which are: Residential, Commercial, Industrial and Land Real Estate.
Chief Dr. Nike Akande was called on stage to make opening speech. “I am delighted to be part of the programme. Real Estate sector has become the integral part of our economy,” she said. She also urged government to give full and more support to the group, in terms of bill amendment, infrastructure, regulating bill and so on, that it would make the transaction in the sector friendly. She rounded up her speech with official inauguration of real estate group of Lagos Chamber of Commerce and Industry.
Another highlight of the ceremony was when the 3 discussants analyzed the two themes of the inauguration ceremony, which are: Standardization and Sustainability, Health & Safety Management as it relates to the industry.
First discussant was a woman, Nnena Kayode Lawal, Group Head Corporate Bank, Keystone Bank. She urged developers not to compromise Quality and they should not cut corners in order to make double gains. She pointed out the huge fund in the real estate sector. She said only 5 percent of the fund in the sector are coming from banks but she urged Federal Government and CBN to come together and save the sector, so as to encourage more developers to access fund.
Another discussant who also made his mark was Mr. Shobajo. He spoke about the need for the introduction of new technologies as it obtains in China, that you don’t have to wait for years to have a house completed.
The third discussant, Mr. Abiodun G Kamildeen talked about The importance of Safety during Construction. He is an expert on Health and Safety Management and he pointed out the importance of safety before and after construction. He said Nigeria’s real estate can only get it right when it begins to take health, safety and environment into consideration, that implementation of health safety and environment is a major concern driving SMEs real estate developers.
He said developers should not just focus on Turn over but the entire safety of workforce and safety consultants should henceforth be included in the real estate projects/sector to avoid risk and hazard.
Mr. Babatunde Oyegbola, who represented Lagos Housing Commissioner Hon. Prince Gbolahan Lawal also spoke on how Lagos State has begun to implement and review of bills that would further encourage both developers and investors in the real estate sector.
The inaugural cake was cut and vote of thanks came from Mr. Gbenga Ismail, who is the Vice Chairman of Real Estate Group of the LCCI.