By Esther Onyegbula

The Lagos State Chapter of the Nigerian Institute of Building (NIOB) has revealed that its upcoming 33rd Annual General Meeting (AGM) and Conference is expected to provide insights into efficient processes and controls that can help the sector break barriers, leading to increased efficiency, transparency, and accessibility.

The Chairman of the Nigerian Institute of Building, Lagos State Chapter, Bldr. Adeyemi Thomas Adeoye disclosed this at a press briefing held in Lagos to provide an update on the upcoming event.

According to Bldr. Adeoye, “The theme for this year’s conference is ‘Breaking Barriers and Empowering Change in Nigeria’s Real Estate Sector: Process and Control.’ The conference aims to bring together key stakeholders and industry experts to share their knowledge and discuss crucial topics impacting the real estate sector in Nigeria.”

Speaking on behalf of the Executive Committee and members of the chapter, Bldr. Adeoye noted, “The 33rd Annual General Meeting is an opportunity to deliberate on planning and research, stakeholder engagement, market analysis, and the identification of challenges and barriers in the sector. The outcome of the deliberations will be consolidated into a communiqué that will guide policymakers, captains of industry, and other stakeholders in enhancing Nigeria’s real estate industry.”

He explained, “The conference will feature discussions on various sub-themes, including innovative financial models for building projects, housing affordability, infrastructure development, environmental sustainability, and the impact of the regulatory environment on real estate. The event is expected to provide insights into efficient processes and controls that can help the sector break barriers, leading to increased efficiency, transparency, and accessibility.”

Stressing the importance of incorporating Environmental, Social, and Governance (ESG) criteria into real estate investments, the past Chairman of the Lagos State Chapter of the Nigerian Institute of Building (NIOB), Bldr. Sunday Joseph Wusu stated that these standards are vital for attracting investors, particularly international ones. “No serious investor will put their money in a company that does not comply with ESG standards,” he said, adding that ESG is becoming a major focus for industry professionals as it has a significant impact on the viability and sustainability of construction projects.

Wusu also noted the role of corporate governance in attracting investors, warning that inadequate governance structures deter investment. “The configuration of a company’s leadership must inspire confidence in potential investors; having a family-run setup where key positions are occupied by relatives can be a significant red flag.”

The Vice Chairman of the Lagos State Chapter of the Nigerian Institute of Building (NIOB), Owolabi Rasheed Ayoola, urged all stakeholders, industry professionals, and members of the public to attend the conference to help build safe and sustainable structures in Nigeria. He assured that the upcoming conference would be instrumental in breaking the “ice” in many aspects of the real estate sector, leading to transformative changes that will ultimately empower the industry.

According to Ayoola, “The 33rd Lagos Building Conference, which will be held at the Podium Event Centre along Lekki-Epe Expressway, Lagos, will include participation from Lagos State Government regulatory agencies, the Real Estate Developers Association of Nigeria (REDAN), the Standards Organization of Nigeria (SON), as well as other private sector representatives, academia, and members of the public.”

The Public Relations Officer of the Lagos State Chapter of the Nigerian Institute of Building (NIOB), Bldr. Akingbade Adekola Israel, further stated that the conference aims to sensitize the public about the dangers of not engaging registered builders and failing to utilize essential builders’ documents, which include the Construction Methodology, Construction Programme, Project Quality Management Plan, and Project Health & Safety Plan. “Working without these documents is a violation of the Revised Lagos State Building Control Agency Regulation 2019.”

“Among the key dignitaries attending the two-day event are the Lagos State Governor, Mr Babajide Sanwo-Olu, along with other top government officials and prominent traditional rulers, including Oba Gbolahan Lawal, Oniru of Iru Land, and HRM Oba (Bldr) G. B. Aderibigbe Asunmo, FNIOB (Jamade I) of Olu-Ayandalu Kingdom,” he noted.