Professional in the built environment, Mr Olumide Adewebi, has expressed delight at the growing interest of Nigerians abroad and international investors in Nigeria’s real estate and infrastructural development.
Adewebi, Vice President (West Africa), Commonwealth Association of Surveying and Land Economy, disclosed this in an interview with the News Agency of Nigeria, NAN, yesterday in Lagos.
He advised the federal government to leverage the interest, create and market projects to Nigerians in the diaspora.
Adewebi urged government to showcase transparency and reliability to build trust with foreign investors and Nigerians in the diaspora.
The expert called on government to invest more in critical infrastructure such as roads, power and rails which, he said, are essential for economic growth.
Adewebi advocated Public-Private Partnership, PPP, for large-scale infrastructure projects to share resources and expertise.
He urged government to revive and create industrial zones with adequate infrastructure for construction activities.
Adewebi also urged development of innovative, affordable and cost-effective housing solutions to address the housing needs of low and middle-income groups.
The expert urged the federal government to integrate technology into urban development to improve efficiency, sustainability and quality of life.
Adewebi said embracing modern technologies such as Building Information Modeling, drones and prefabrication would significantly improve efficiency and reduce construction costs.
He called on government to invest in the training of professionals in the use of new technologies.
The expert expressed hope that taking advantage of the opportunities would enable the construction industry to drive economic growth and development.
He called on government to address fluctuating exchange rates and other challenges that held down the industry in 2024.
Adewebi said: “Fluctuating exchange rates, inflation and limited access to affordable financing might increase project costs.
“To mitigate this, there is the need to stabilise the economy, leverage PPP and promote local production of construction materials.” NAN
