What is it about?
The study highlights the salient factors that have brought about the housing challenges in northern Nigeria. Arguably poor property development and management initiatives have had direct correlations with the weak property management practices in these states and thereby further restricted investments in the real-estate sector in northern Nigeria.
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Why is it important?
The study is a critical reflection of developments in property management taken from the purview of the Nigerian real-estate market. One of the authors is a practitioner who has worked in both the Nigerian and UK property sector and whose experience highlights the need for the professional bodies in these countries to make themselves more relevant by ensuring compliance within the bodies as self-regulatory rather tan passing the buck to government.
Perspectives
Regulatory bodies need to do more in terms of having a voice in the policy-making and implementation in matters that concern them. For example, accounting bodies tend to have more voice in financial matters and financial regulation but the same cannot be said about powerful entities such as the Nigerian Institution of Estate Surveyors and Valuers, NIESV. In the UK the role of The Royal Institution of Chartered Surveyors is a professional body that accredits professionals within the land, property, construction, and infrastructure sectors worldwide.
Professor Nnamdi O Madichie
Nnamdi Azikiwe University
Read the Original
This page is a summary of: Property development and the unresolved housing issue in northern Nigeria, African Journal of Economic and Management Studies, December 2016, Emerald,
DOI: 10.1108/ajems-05-2016-0058.
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