The Federal Government has urged the Real Estate Marketers and Consultants Association of Nigeria (REMCAN) on the importance of professionalism and credible data in building a stronger real estate industry, adding that the proposed reforms would address issues around the registration and credibility of practitioners.

Minister of Housing and Urban Development, Engr. Muttaqa Rabe Darma made the assertion this when he received members of the Real Estate Marketers and Consultants Association of Nigeria (REMCAN) on a courtesy visit to his Ministry in Abuja

Darma also said the real estate and wider built environment sector had huge potential to contribute significantly to Nigeria’s Gross Domestic Product,adding that its current contribution remained far below what was obtainable in other countries.

He explained that the Ministry’ll work on national housing data, and they would equally provide a reliable basis for planning and decision-making, determining to reposition Nigeria’s built environment sector to significantly increase its contribution to the nation’s GDP.

“We must make sure that this industry provides significant contribution to the national economy. In fact, it must be number one. If it can’t be number one, then it will be among the top three,” he said.

The Housing Minister further stressed that the ongoing reforms were driven by the need to protect ordinary Nigerians who often part with their hard-earned money in search of housing and, in some cases, lose it to fraudulent or poorly regulated transactions.

According to him, government must create a system that protects everyone in the industry, from developers, marketers, consultants, investors and, most importantly, the people who pay for homes; We must protect everyone,” he added.

He hinted that the next stage would be to take the outcome of the engagement to the sub-national level through the National Council on Lands, Housing and Urban Development, before progressing to policy and, where necessary, legislation.

“The current administration was committed to laying the foundation for lasting reforms in the sector before the end of its tenure.Before we leave office in the next few months, we will make sure that we have transformed the industry,” he said.

He commended REMCAN for its visit and reaffirmed the Ministry’s readiness to work with stakeholders to build a more transparent, professional and vibrant real estate sector that works for Nigerians.

Earlier, the President of REMCAN, Mr. Collins Nnamani Ebuka, said that the purpose of their visit was to establish their presence with the Ministry and also align with what they are trying to build for Nigeria.

He said the Association was committed to supporting the Ministry’s reform agenda, particularly in strengthening transparency, professionalism and trust in the real estate sector.

He enlightened that the Association had developed REMCAN REALERS, a digital platform designed to provide structured and verifiable information on its members, including a unique Real Estate Verification Number (RVN) which allows members of the public to verify practitioners before engaging in transactions.

According to him, the initiative is aimed at improving confidence in the sector and providing useful data that can complement government’s efforts to build a more transparent real estate ecosystem.

Nnamani also expressed its readiness to serve as a strategic partner to the Ministry, stressing the importance of collaboration among government, practitioners and other stakeholders in addressing the challenges facing the sector.

He however said the Association was working towards a Collaboration Conference that would bring key stakeholders together to identify practical solutions and help take the Ministry’s reform agenda beyond the conference room to Nigerians at the grassroots.