FIABCI urges practitioners to explore opportunities in blue economy

The International Real Estate Federation (FIABCI)-Nigeria chapter has charged its newly inducted members to uphold the core values of transparency and impeccable character in discharging professional practice.

FIABCI President, Mr Akin Opatola, led the charge at this year’s general meeting of the association, which included the induction of new members and a lecture on:” The Blue Economy Revolution: Emerging Opportunities for Real Estate Players” held in Lagos.

He encouraged them to be professional, stressing that with its 52-year existence of the Nigeria chapter, the association pays particular attention to the kind of people it admits as members.

“The screening is often rigorous to become a FIABCI member, so the inductees should consider themselves lucky. They need to guide their membership and uphold the core values of collaboration, sincerity, transparency, and hard work at the core of their practice. People should be able to see them and say I like the way you operate by showing leadership traits,” he said.

Opatola said that based on the reality that FIABCI stands for innovation, the theme of the blue economy was picked to examine what the blue economy really means and what opportunities it offers for real estate players and diverse members of FIABCI.

“As real estate players, we believed that we could think about the economy in line with the government’s focus on achieving the $1 trillion economy. He also solicited the support of members towards the successful hosting of FIABCI’s 75th World Real Estate Congress in Nigeria later in June this year,” he said.

Inducting the new members through the oath of allegiance, President FIABCI-Africa and Near East, Mr Adeniji Adele, appealed to the members to abide by the mission statement of the association and stand tall in their professional journey. He encouraged them to use FIABCI’s standards and ethics while practising locally and internationally.

Adele emphasised that FIABCI believes in innovation, integrity and impeccable character as cross-border transactions appeal in the association, adding that the level of integrity and behaviour matters as members of the international organisation in the real estate sector.

In a keynote address, the Special Adviser to the former Director General of NIMASA on Communication and Strategy, Mr Ubong Essien, said the blue economy is worth $1.5 trillion globally, while Nigeria is well positioned to capture about 10 per cent of it with water ecosystem spread across major states.

According to him, 70 to 80 per cent of world trade happens on the ocean, hence the need to tap the potential to make money that will trickle down to benefit all Nigerians.

Essien said there exist economic opportunities, which real estate practitioners can explore. These, he said, include blue cities/ estates, commerce, climate, capital, talents, governance and power in renewable energy.

He argued that estate surveyors and valuers, as well as other experts in the real estate ecosystem, should explore the emerging blue economy for economic growth, improved livelihood, create jobs and preserve the earth and ocean ecosystem by arresting issues of pollution.

Essien, who doubles as the founder of Blue Economy Academy, challenged FIABCI members to go beyond advocacy to government and actively engage with authorities through policy implementation with regard to tapping the potential of the blue economy.