Estate surveyors have been urged to take proactive measures and speak out against fraudulent activities within the real estate sector. This call was made during the investiture of Mr. Gbenga Ismail as the 28th Chairman of the Nigeria Institution of Estate Surveyors (NIESV) in Lagos State.
There are concerns about dubious developers who build properties but allocate them to more prospective tenants than there are units available, leading to fraudulent practices. The government has been urged to collaborate with NIESV to sanitize the sector and address such issues.
Additionally, there is a significant number of abandoned properties in cities like Abuja and Lagos, prompting a call for investigations into the ownership and reasons for abandonment. It is suggested that if the owners cannot be identified, the government should take over these properties, reacquire them, and put them back into use to generate revenue.
Establishing a comprehensive database of abandoned structures has also been proposed to assess the potential value of revitalizing these assets and contributing to the country’s Gross Domestic Product (GDP).