Operators in the real estate sector have attributed the decadence in the country’s real estate sector to greed.
The Chief Executive Officer of Land Republic, Victor Adegbile, said developers needed to imbibe a value system that put people above profit.
He said, “A country that places value on money above the safety and thriving of her human capital cannot stand. And this cuts across all sectors of the economy. Other factors that can contribute to building collapses are natural disasters. It is important to thoroughly analyse the specific circumstances surrounding each collapse to better understand the causes and prevent future occurrences. Lagos can be said to be the country’s biggest commercial and real estate hub. We cannot continue to record issues of building collapse, because it leaves a negative impact on the quality of our real estate and infrastructure here.
“Any agency collecting bribes instead of enforcing the law and order must know that it is influencing environmental degradation. It must not prioritise short-term personal gains over long-term environmental sustainability.”
According to Adegbile, this can result in the destruction of our natural habitats, pollution, and other environmental problems that can harm human health and well-being.
In the same vein, a real estate consultant, Mercy Okeke, said greed was one element that had eaten deep into the country’s system.
She argued that the effect was not reflected in the real estate sector alone, adding that it cut across most sectors of the economy.
She said, “It is just unfortunate that the love for others is missing in some of these persons in place to represent us (the masses). The willingness to help others and alleviate poverty through the instrumentality of power and position has been robbed by selfishness.
“That is why we can hear that several funds in different agencies had been siphoned and mismanaged. Money that could build a country is just lying in some persons’ account. It is such a pity.”
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