Emmanuel OchayiLagos State Governor Babajide Sanwo-Olu has emphasized the urgent need for unified measures within the housing sector to avert potential disasters.
Sanwo-Olu made this call while speaking at the Real Estate Market Place Conference and Exhibitions in Lagos.
Join our WhatsApp ChannelHe stressed the importance of embracing global best practices to fortify the sector against calamities, highlighting the necessity for stringent building codes and insurance coverage against natural disasters.
“In order to safeguard structures against the unpredictable forces of nature, it’s imperative for us to mandate insurance coverage against natural disasters,” stated the Governor, represented by State Commissioner for Housing, Moruf Akinderu-Fatai.
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He emphasized the necessity of a comprehensive approach, intertwining regulatory measures with other strategies to ensure robust disaster mitigation and recovery outcomes.
Sanwo-Olu underscored the role of real estate regulation as a shield against industry uncertainties. “We need stringent building codes and standards to fortify our structures against the destructive forces of nature,” he affirmed.
He also advocated for intelligent urban planning via systematic zoning and land-use policies to minimize disaster-induced damage.
Addressing the sector’s challenges, the Governor highlighted the potential loss of confidence among stakeholders if these issues remain unaddressed.
Echoing similar sentiments, Special Adviser to the Governor on Housing, Barakat Bakare, pointed out the myriad disasters plaguing the sector, including building collapses, fraud, and investment uncertainties. She stressed the criticality of adopting best practices to avert such crises.
“Embracing regulations and compliance is crucial to mitigate potential disasters arising from non-compliance,” Bakare affirmed. “Our collective efforts ensure secured investments, guaranteed returns, and the preservation of lives.”
The call for unity and adherence to regulations reverberated throughout the conference, as stakeholders recognized the imperative of cohesive action to create a safer and more sustainable real estate landscape in Lagos State.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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