Reducing Housing Deficit: SEC to partner with relevant stakeholders

The Securities and Exchange Commission SEC in Nigeria has pledged to collaborate with relevant stakeholders on real estate investments in a bid to bring about a reduction in the housing deficit in the country.

 
The Director General of the Commission, Mr.

Lamido Yuguda made the pledge during a meeting with the Nigerian Institution of Estate Surveyors and Valuers NIESV.

 
Yuguda stated that the SEC Values the service that NIESV provides to the capital market and the nation, adding that there was a large room for greater collaboration between the Commission and the Institution to improve the living standard of the people and contribute meaningfully to the nation’s economy.

 
He said “Nigeria’s population is growing fast and we need everyone in Nigeria to have a roof over their heads.

We do not want people to end their careers living in rented accommodation; people need to own their own houses because there is a lot of security and social value in owning your own house.

 
“There is a renewed focus on Real Estate Investment Trust now” and the Securities and Exchange Commission is working to see how the sector contributes more to GDP by facilitating the trading of assets in the real estate sector,” he said.

 
Benefits of ValuationThe Chairman, Association of Capital Market Valuers, Mr Chudi Ubosi stated that determining the values of assets of organizations in the capital market was the bedrock for decisions and a helpful tool in a range of work situations.

 
Ubosi said that valuation was useful in mergers, acquisitions and divestment because it helps to price an organization and to estimate and value synergies as well as assess potentials of different strategic options among others.

 
“When businesses want to raise money, when they need to determine how much should be raised as well as when they approach the negotiating table, valuations are needed in all instances”, Ubosi stated.

 
He stated that the role of Capital Market Valuers in determining the value of the assets of these companies would ensure transparency, accountability and continued enhancement of investor confidence in the market.

 
“As SEC recognizes us with insistence that all capital market valuations be undertaken by our members, you will be rest assured that anytime an operator wants to capitalize or re-capitalize their assets, the valuation reports done by our members will help engender confidence in the process,” he added.

 
The President and Chairman of Council, NIESV, Mr.

Emmanuel Wike commended the SEC Management on the huge contribution the capital market was making towards the economic development of the country and solicited for the strengthening of collaboration between the Commission and the Nigerian Institution of Estate Surveyors and Valuers.

 
Nneka Ukachukwu
Reducing Housing Deficit: SEC to partner with relevant stakeholders

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