Real estate sector: Sanwo-Olu reads riot act to govt officers over sabotage

Lagos State governor, Mr Babajide Sanwo-Olu, on Tuesday expressed disappointment over activities of some government officials who were accused of sabotaging efforts of government in regulating the real estate sector in the state, vowing that he would henceforth not only be ruthless with such officials but ensure they were booted out of his government once caught.

The governor gave the vow while speaking at the second Lagos Real Estate Market Place Conference and Exhibition themed: “Lagos: 21st Century Real Estate Investment hub,” organized by the Lagos State Real Estate Regulatory Authority (LASRERA), affirming that some government officers and developers had cultivated the habit of cutting corners.

This was just as he recalled that the state government had, a month before the collapsed building in Ikoyi, launched a certificate of completion and certificate of fit of habitation of buildings through the Lagos State Building Control Agency (LASBCA).

According to him, the message being passed across through that is that anybody that had done proper development to a certain level needed to possess a certificate of completion and a certificate of fit of habitation from them from the agency, adding that the issue of those wanting to sabotage government’s effort in that direction was one “that all of us need to work together and deal with.”

“The lesson we are learning is not lost on us. But I dare say that a month before the Ikoyi building collapse incident we launched a certificate of completion and certificate of fit of habitation of buildings in the state. We had done that with Lagos State Building Control Agency (LASBCA) meaning that anybody that had done proper development to a certain level, you need to get a certificate of completion and a certificate of fit of habitation from them.

“So these are some of the things that from a regulatory point of view that indeed all the boxes had been ticked. We know for the size of this city there will be people that will like to cut corners, there will be officers that will also bring us down and have reduced our name, we know. We are not going to stand here and say everybody that works for us is holy but we are dealing with them. These are major issues that all of us need to work together and deal with,” the governor said.

“I am using this opportunity to express my disappointment about some government officials that want to sabotage that effort. I will not be only ruthless, I will look for you and ensure you have no place in my government. This is an agency that must work for everyone. It is a project whose time has come,” he vowed.

Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson –Awoyinka, in her address, said real estate remained a very strong and powerful investment all over the world, adding that apart from the role it played in employment generation and creation of sustainable jobs, it had the highest potential of growing the economy of any state and nation.

She posited that real estate being a viable sector in the economy of any country, having the right information and understanding the operational environment by investors or investees was very key, saying this could be achieved through coaching and professional conferences like this.

According to her, there is a need for one to know the government’s policies put in place and how the knowledge of all these policies can assist in making informed decisions in respect of whatever investments to be made.

“As a Government, we have realised this fact and as such, have been making business-friendly policies that can assist would-be investors, investees operate in a conducive business environment,” she said.

“We all know the havoc and the damages caused by the outbreak of Coronavirus pandemic which brought drastic changes to the financial sector of the world, despite this, the Real Estate Sector remained the preferred investment globally in spite of this threat,” she added.

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Real estate sector: Sanwo-Olu reads riot act to govt officers over sabotage