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Since 1978 when the Land Use Act was enacted, Nigeria is yet to review it, creating regulatory bottlenecks for the built industry in achieving its desired growth.
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Stakeholders, calling for an overhaul of the land tenure system, said until the laws governing the built environment are revised, moves to make the sector thrive would continue to be a mirage.
Chairman, Lagos Building Investment Co. Plc, Hakeem Ogunniran, spoke, yesterday, at the second biennial corporate governance and enterprise development conference, with theme,“Revisioning Built Environment in Nigeria: Regulatory Compliance and Enforcement to the Rescue.”
Ogunniran, who stated that Nigeria needs to have a rethink on the land tenure system, said it was anti-development and urgently needed to be reviewed.
Similarly, National President of the Nigerian Institute of Building (NIOB),
Alderton Ewa, said in the Nigerian context, regulatory compliance and effective enforcement are a sine qua non for sustainable development, with the rapid urbanisation, seeming over-population, climate change and its concomitant impacts on development.
He said that the existing regulatory framework, which requires meticulous evaluation, must be enhanced to meet modern trends.
He advised that Nigeria must harness the potential of technology to revolutionise how regulatory compliance is approached.
Earlier, Founder and Chief Executive Officer of the Centre for Enterprise Governance, Dr. Adeyinka Hassan, said that with the spate of collapse of roads and buildings, there is need to revive the real estate and construction industry, as well as opportunities in the construction eco-system.
General Manager, Lagos State Building Control Agency (LABSCA), Gbolahun Oki, said the reason for frequent building collapse was attitudinal problem and lack of right professionals.
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