Operator Seeks Agency to Address Real Estate Developers’ Plight

Folalumi Alaran in Abuja

An operator has called on the federal government to create a single agency to address the plight of real estate developers in order to ensure seamless and efficient operations.

The Executive Director, Pennek Nigeria Limited, Kennedy Nnadi, made the call at the official opening ceremony of the estate in Abuja.

According to him, dealing with various government agencies during construction was a challenge, adding that there should be a streamlined process to simplify the procedures.

Nnadi said: “Similar to the Treasury Single Account (TSA), there should be a unified government agency overseeing construction-related matters for efficient decision-making.

“The government must support developers because a nation’s progress hinges on their contributions. While the government may conceive ideas, developers drive the vision and mission.

“With governmental support, including tax waivers, asset protection, and overall encouragement, our business can thrive in Nigeria.”

On the issue of Certificate of Occupancy (C of O), he pointed out that discussions were ongoing, and the situation not yet finalised.

“We are actively engaging with the government, exploring viable options. It’s a positive step; everyone will eventually have their C of O, and as per our plan, the estate is secure. The necessary documents are prepared, awaiting transfer to the subscribers,” he stated.

While addressing youth unemployment, he highlighted the company’s success in reducing the unemployment rate in Nigeria.

“In this specific project, we’ve employed a minimum of approximately 300 individuals, significantly impacting their income and ability to manage personal affairs,” he added.