The Chief Executive Officer, Pelican Valley Nigeria Limited, Dr. Babatunde Adeyemo has expressed concern over the economic downturn in the country due to the new policies introduced by President Bola Ahmed Tinubu.
Adeyemo explained that the policies, including subsidy removal on petrol, have drastically increased the cost of properties, thereby affecting the patronages by prospective customers who only showed interest but lacked the financial capacity to pay.
The realtor made this known when he received the executive members of the Sports Writers Association of Nigeria (SWAN), Ogun State chapter led by their Chairman, Comrade Michael-Azeez Ogunsiji, in The Podium, Pelican Valley Estate Laderin, Abeokuta, the state capital.
He pointed out that his colleagues in other states are also operating at a loss due to the new policies to the extent that even real estate owners who were initially receiving multiple inquiries daily before May 29, are recording very few now.
Adeyemo, therefore, appealed to the Federal government to consider the possibility of granting loan facility at a single digit or interest free to genuine real estate developers in Nigeria.
He expressed the fear that any further negligence of the real estate business would plunge the housing sector into comatose and worsened the nation’s housing deficit.
He urged Nigerian leaders to embark on projects that will outlive them after office, noting that his passion for building unusual homes made the Pelican Valley a reference point among real estate players in the country.
“The harsh Nigerian economy has taken its toll on real estate business in the country. If the revolution embarked by President Tinubu had been done by previous administrations, the ripple effect would have been better by now.
“I want to implore Nigerian leaders to do projects that will outlive them after office. The problem we have now is that previous administrations only embarked on programmes that will benefit their administrations without taking recourse to the general benefits of the people years after leaving office.”
He charged the new SWAN leadership in the state to partner with stakeholders that can drive the development of the association.
Responding, the SWAN Chairman, Michael-Azeez Ogunsiji assured the realtor of the association’s unflinching support in every sphere.
He assured that the new SWAN leadership in the state will not rest on its oars until the Association becomes a reference point in the state and the country as a whole.
