The President of the Nigeria Institution of Estate Surveyors & Valuers (NIESV), Prince Victor Adekunle Alonge, has said the tax reform introduced by President Bola Tinubu will boost the real estate sector in productivity and contribution to the Gross Domestic Product(GDP).
Alonge speaking after the conferment of the chieftaincy title on him by Ooni of Ife, Oba Adeyeye Ogunwusi as the Awokose Omoluabi Oodua, lamented that Nigeria is one of the countries with the lowest GDP in the real estate sector.
He urged the government at all levels to recognise professionals in nation-building to turn around the economic fortune of the country.
According to him: “In Nigeria, those authorities must recognise the importance of professionals in nation building. There is nothing in terms of ideas and knowledge that we don’t have in Nigeria that each profession cannot provide.”
He lamented: “Real estate performance based on GDP is very low, one of the lowest in Africa and we have huge potential. And it’s just for the Government to listen and engage. To accept that professionals have a role to play in supporting the government.
“I must commend, this current government for the various initiatives that they have taken especially in the tax reform which is going to impact us in the real estate industry. In terms of productivity, contributions to GDP, I think it’s great. I just want them to continue to do that.
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“There are policies that may at first instance be difficult for the people. But in the long term, the Government is a continuum of administration. Policy should be sustainable. Listen to professionals. Engage with surveyors and valuers in the profession for the revitalisation and improved productivity and contribution of real estate to National development.”
Speaking about the conferment of chieftaincy title on him, he lauded Ooni and professional colleagues for the support, assuring that the new role will make him do more for development.