A real estate developer, Dr Promise Egwim, has called on the government to establish a standard pricing system for building materials to stabilize costs and make housing more affordable.
Egwin, who is the Managing Director of Profilled World Homes and Properties Limited, spoke with journalists in Abuja on the sidelines of the groundbreaking ceremony of the company.
The real estate player also advocated flexible payment plans to encourage Nigerians to own houses and called on the government to key into the initiative.
He also emphasized the importance of self-reliance and incremental investment in real estate and highlighted the necessity for citizens to take proactive steps towards owning property, even without substantial financial backing from the government.
“People often think they need significant funds to start investing in real estate, but you can begin small, with as low as 200,000 to 500,000 Naira. The government cannot do everything for us, and with over 200 million citizens, it’s impractical to expect it.
“Many real estate firms, including ours, allow clients to pay in instalments. Although there might be a slight interest due to inflation and rising material costs, this approach makes owning a home more achievable.
“Beyond business, we aim to help people own their property. We educate and encourage individuals to invest in real estate through seminars and social media platforms,” Egwim added.
Addressing the issue of building collapses, Egwim stressed the importance of adhering to regulatory approvals, adding that total adherence to building approval would curb incessant building collapses in the country.
“Development Control should ensure that buildings meet safety standards. It’s crucial to buy or live in properties that have the necessary approvals to prevent collapses,” he cautioned.
Speaking about his company, he said it had created substantial employment opportunities, with over 250 direct and indirect staff members.