… AS EXPERTS CALL FOR LOCALIZATION OF ELECTRICITY DISTRIBUTION
The President of Female Lawyers in Real Estate Practice – FELIREP, Uju Peace Anomneze, has cautioned Nigerians against cutting corners while seeking for accommodation in order to avoid being swindled of their hard earn money by impostors in the real estate business.
She stated this alongside other real estate practitioners at just concluded 3rd Lagos Real Estate Market Place Conference and Exhibitions held at Victoria Island, Lagos.
She lamented that many Nigerians in Diaspora are sceptical about investing in the Nigeria’s real estate sector, advocating that a review of the State’s Land Use Act will further instil public confidence in the real estate practice.
Additionally, experts in the energy and real estate sectors during panel discussion on Sustainable Energy Solutions in the Real Estate Sector charged the Federal Government to localise electricity distribution in the country to improve supply and grow the sector.
At the panel discussion during the event, the Chief Executive Officer, Extradite Consulting, Mr Eyo Ekpo said that distribution of electricity was a local business and should be treated as such to allow the retail electricity distribution business thrive.
Ekpo said the distribution of electricity should not be domiciled with the Federal Government but left to the state governments to handle.
“It is an aberration for nine electricity distribution companies only to cover the 35 states in the Federation. No country in the world does so.
“We live in localities, hence electricity must be localised to foster the desired improvement and growth we desire in the sector,” he said.
Chief Executive Officer, Viathan Engineering Ltd, Mr Habeeb Alebiosu, said in spite of the activities of the regulator and distribution companies, not much had changed in the energy sector.
Alebiosu stated that regulation in the energy sector should be consumer biased to increase the supply and distribution of electricity.
Managing Director, Auxano Solar, Mr Chuks Umezulora, demanded the domestication of supply chain in the nation’s renewable energy.
Umezulora said governments must put up a policy that encouraged energy efficient appliances, while practitioners must think sustainability in building designs.
The Co-Founder/Managing Director, ELALAN Construction Company, Mr Andre Geday said it was no longer sustainable for his company to spend about N50 million monthly on diesel due to the poor performance of electricity distribution companies.
Geday appealed to the Federal Government to stabilise the sector to avoid the ripple effects of the expenses incured by companies and industries on the end users of goods and services.
Managing Director, Nigeria Oolu Solar, Ms Doseke Akporiaye, the Federal Government must work hard to reduce the cost of importation as it was hindered people from acquiring energy devises and solutions.
CMO/Co-founder, Juststandout, Ms Owen Inyang said before structures were built, energy should be inculcated at the planning stage for self-sustainability and promotion of green environment.
Deputy Managing Director, UBA Group, Mr Muyiwa Akinyemi said practitioners in the real estate sector needed access to finance.
He charged banks and financial institutions to focus on Environmental, Social and Governance and ensure risk sharing in every loan request before granting them
