Funmi Ogundare
A Professor of Estate Management and Valuation at the University of Lagos, Timothy Nubi, has called for a fundamental shift in Nigeria’s housing policy from the mere construction of housing units to the creation and upgrading of sustainable, inclusive and resilient communities.
Nubi made the call at the second lecture series of the Folawiyo Entrepreneurship Centre (FEC), Yaba College of Technology, Wednesday, themed, ‘Sustainable Estate Development in Nigeria: Building Resilient Communities Through Clean Water , Clean Energy and Innovation.’
He stated that the success of housing delivery should not be measured by the number of houses constructed or settlements cleared, but by whether communities remain affordable, functional, inclusive, environmentally responsible and resilient throughout their lifecycle.
The don argued that Nigeria’s housing challenge goes beyond a shortage of housing units, noting that it also involves quality, affordability, infrastructure, environmental risks and institutional capacity.
According to him, “Sustainable estate development should integrate land, buildings, infrastructure, institutions and human communities to create long-term social, economic and environmental value.”
Nubi said urban regeneration and in-situ upgrading should form a core part of Nigeria’s housing strategy, particularly in underserved settlements that can be made safe and resilient.
He advocated the adoption of development-led urban management, which, he said, could provide a platform for integrating land-use planning, infrastructure improvement, environmental management, housing rehabilitation, tenure security, local economic development and community participation.
“In-situ upgrading should be the preferred approach where settlements can be made safe and resilient,” he said, adding that such interventions should include improved roads and drainage, clean water, sanitation, electricity, waste management, public spaces, social facilities and housing rehabilitation.
He stressed that implementation should be phased to enable residents to remain in their communities wherever possible.
Nubi further cautioned that where temporary relocation becomes necessary, the affected residents should be provided with clear information, fair compensation, secure return rights or suitable accommodation nearby, as well as protection against loss of livelihoods.
He warned that urban regeneration could produce unintended consequences such as land speculation, rent escalation, forced displacement and the replacement of low-income residents by wealthier groups.
To address these risks, he recommended tenure regularisation, affordability safeguards, community land arrangements, transparent valuation and inclusive financing.
The university don also challenged the perception that sustainability was simply an additional cost in real estate development, saying its benefits should be assessed against lifecycle costs.
He stated: “Investments in responsible infrastructure and environmentally sustainable systems could reduce costs associated with energy consumption, water provision, infrastructure failure, flood damage, maintenance and environmental degradation, while helping to preserve long-term asset values.
Sustainable estate development, he noted, can therefore create value through reduced operating costs, improved reliability, enhanced resilience and the preservation of long-term asset value.
He called for coordinated action among government agencies, developers, financial institutions, professional bodies, communities, technology providers and educational institutions.
According to him, government must provide effective spatial planning, efficient development approvals, infrastructure coordination, environmental regulation, building standards and enabling financial frameworks, while the private sector should contribute investment, innovation and infrastructure provision.
Earlier in his remarks, the Rector of the college, Dr. Ibraheem Abdul, advised students and staff to harness entrepreneurship, innovation and practical knowledge to develop solutions to Nigeria’s environmental and developmental challenges.
The lecture series, according to him was designed to expand the entrepreneurial activities of the institution and expose students and staff to practical dimensions of enterprise.
He said the establishment of the Folawiyo Entrepreneurship Centre (FEC) through the generosity of Chief Tunde Fanimokun, in honour of his benefactor, Chief Iyanda Olayinka Folawiyo, represented a significant contribution to YABATECH’s institutional vision.
He noted that Folawiyo had built an entrepreneurial legacy spanning trading, oil and gas, energy, shipping, agriculture and real estate, adding that the centre was drawing from the legacy to provide practical entrepreneurial exposure for members of the college community.
Abdul said the FEC open market sales, which provides a platform for trading and enterprise within the college, formed the foundation of the centre’s first annual lecture series.
He said this year’s focus on real estate development was particularly relevant as it introduced another major dimension of the Folawiyo business legacy into the academic and entrepreneurial space.
According to him, “Contemporary real estate development must go beyond the construction of physical structures to address quality of life, environmental sustainability, energy efficiency, access to clean water and the creation of resilient communities.”
He said the alignment of the programme with the United Nations Sustainable Development Goals (SDGs) 6, 7 and 11 was commendable, noting that they focused on clean water and sanitation, affordable and clean energy, and sustainable cities and communities respectively.
The Chairman, Folawiyo Entrepreneurship Centre, YABATECH, Chief Tunde Fanimokun, urged students to embrace entrepreneurship, describing it as critical to sustainability, individual development and wealth creation.
He also encouraged them to take advantage of the opportunities and knowledge provided by the centre to broaden their perspectives and prepare for their future careers.
He said his own experience after retirement from the civil service demonstrated the transformative power of entrepreneurship, noting that he ventured into the Folawiyo business empire without prior knowledge of entrepreneurship.
According to him, the experience changed the course of his life and inspired his commitment to establishing and supporting the centre.
“I took up the challenge at Folawiyo Empire without the knowledge of entrepreneurship after my retirement from the civil service. The Folawiyo encounter turned around my life,” he stated.
Fanimokun said entrepreneurship was important not only for financial independence but also for ensuring sustainability and personal development.
He urged the students to make effective use of the centre, saying the knowledge they acquired there would help them widen their scope and create opportunities for themselves and others.
“At the centre, we are starting a long journey. I am committed to the project,” he said.
The chairman also identified real estate as one of the major avenues for wealth creation, urging the students to explore opportunities in the sector while pursuing areas they genuinely enjoy.
“One of the golden gates of wealth is real estate. You need to do something that you enjoy,” he said.
Fanimokun expressed optimism that many of the students would return to YABATECH in the future to contribute to the development of the institution and society at large.
He identified vision and strategy as essential ingredients for achieving success, urging the students to develop clear goals and strategic plans for their future.
“The universal success formula is vision, vision and strategy, which will give you success in life,” he said.
Also speaking, the Director, Entrepreneurship Centre, YABATECH, Dr. Funmilayo Adeoye, challenged students to move beyond generating innovative ideas and develop them into sustainable enterprises capable of solving real-world problems.
She said the centre was committed to creating a platform where promising ideas could receive the funding, mentorship, expertise and industry partnerships required to become viable businesses.
According to her, entrepreneurs, investors and industry partners should identify promising ideas from the students’ presentations and support them through funding, mentorship and collaboration.
“Our inspiration is to create a platform where promising ideas can be built on the support and expertise required to develop new enterprises that bring value and solve real problems in our society,” she said.
The programme witnessed awards to staff and students who won the centre’s pitchathon business Idea.