feel free to call 09056000005

Estate Surveyors Discuss Executive Order on Monthly Rent in A’Ibom

The recent executive order issued by the Minister of Works and Housing, Mr. Babatunde Fashola, to the effect that payment of rent across the country should now be monthly instead of yearly would dominate discussions during a two-day meeting of members of The Nigerian Institution of Estate Suveyors and Valuers (NIESV) assembly in Uyo, Akwa Ibom State capital today.

The Akwa Ibom State Chairman of NIESV, Mr. John Isangedighi, disclosed this yesterday while briefing journalists on activities to mark the two-day meeting of the national body of NIESV in the state.

The meeting, which will feature  the 28th Johnwood Ekpenyong memorial lecturer, 2022 Fellows’ Induction ceremony, and National Mandatory and Continuing Professional Development, has as its theme: “Property Investment and Rental Alternatives: Understanding the Implication to The Real Estate Market.”

“What is the implication for property owners and professionals estate surveyors and valuers? To what extent does it affect them and property owners?

“We want to have holistic discussion and examine implication of the minister’s new order that rent should by paid monthly instead of annually.

“The lecture is not limited to professional colleagues but other members of the public in the real estate development and management agency such as architect, town planning, quality surveyors are at liberty to participate in the training.

“From there we will know whether the decision of the minister is in favour of the populace or only the government that is benefiting or to what extend it will affect investment in the real estate economy,” he said.

He regretted that the country lacked statistics on housing development, disclosing that at least one million houses need to be built every year to meet the demand in the sector.

“As a country, we don’t have good statistics on housing development. We have about 15 million housing gap. We need to build one million houses every year to close the gap in 15 years. We need to make real estate investment appealing to the investors,” he stressed.

He said that the 28th Johnwood Ekpenyong Memorial Lecture would be observed as well as induction of 56 members into the institution.

He explained that Ekpenyong, who was from Itu Local Government Area of Akwa Ibom State, was the first registered estate surveyor in Nigeria and the first President of NIESV.

Source:Thisdaylive

Similar Topics

  Dr. Iziaq Salako, the Minister of State for the Environment, announced that Nigeria lost...

3 days ago Read More

Leading figures in the real estate industry have expressed concerns about unethical practices by...

4 days ago Read More

Nigeria has experienced approximately 604 building collapses between 1974 and May 30, 2024,...

4 days ago Read More

In the past twelve months, Governor Peter Mbah of Enugu State, South East Nigeria, has shown a...

10 days ago Read More

Land buyers at the Oko-Orisan waterfront residential scheme, developed by the Lagos State...

10 days ago Read More

A development that is apparently strange in this clime is brewing as construction workers in...

17 days ago Read More

The company’s Chief Executive Officer, Mr Odunayo Ojo, highlighted UPDC’s unwavering...

19 days ago Read More

The real estate sector has undergone significant regulatory changes impacting housing market...

20 days ago Read More

  The Nigerian Institute of Quantity Surveyors (NIQS) has announced plans to establish a...

24 days ago Read More

  Nyesom Wike, the Minister of the Federal Capital Territory (FCTA), announced that the FCT...

24 days ago Read More

Akintoye Adeoye, the newly elected President of the Real Estate Developers’ Association of...

26 days ago Read More

  The Ministry of Housing and Urban Development announced that 8,925 individuals have...

26 days ago Read More

The Building Collapse Prevention Guild (BCPG) has urged the Lagos State Government to investigate...

a month ago Read More

The Housing Development Advocacy Network (HDAN) has urged the Federal Government to declare a state...

a month ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged for a comprehensive review...

a month ago Read More

Ugochukwu Nwora, the Head of the Directorate of Valuation Standards at the Financial Reporting...

a month ago Read More

The Lagos State Government has issued a stern warning to individuals and entities operating in the...

a month ago Read More

Dr. Oluyinka Olumide, the Lagos State Commissioner for Physical Planning and Urban Development,...

a month ago Read More

The Lagos State Commissioner for Environment, Tokunbo Wahab, revealed that the government had...

a month ago Read More

Femi Adewole, CEO of Cooperative Mortgage Bank Ltd., revealed that out of roughly 340,000 policemen...

a month ago Read More