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By Dipo Olowookere

Major players in the construction industry have been assured of strong support from the Securities and Exchange Commission (SEC) to reduce the housing deficit in Nigeria.

The agency, through its chief executive, Mr. Lamido Yuguda, said it looks forward to players exploring the capital market to resolve the issues.

Mr. Yuguda, in a meeting with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Abuja on Wednesday, said: “There is now renewed interest in the Real Estate Investment Trust (REIT) sector contributing more to our GDP by facilitating the trading of assets in the real estate sector. I think there is a huge place for collaboration, you have a very big role in the real estate sector.

“Nigeria’s population is growing rapidly and we need everyone in Nigeria to have a roof over their heads. We don’t want people to end their careers living in rented accommodation, people have to own their own homes because there is a lot of security and social value in owning your own home.

“You are very important because you operate in a very important area for our economy. You have a crucial role to play in the capital market, especially since our focus is on the real estate investment trust industry. You also have a huge role to play in the larger housing sector, because for the moment we have not been able to fully exploit the potential of this sector, ”he added.

Also speaking, the chairman and chairman of the board of NIESV, Mr. Emmanuel Wike, commended the management of the SEC for the enormous contribution that the capital market is making to the economic development of the country and called for the strengthening of collaboration between the agency and its institution.

Earlier, the President of the Association of Capital Market Valuers, Mr. Chudi Ubosi, said that determining the value of organizations’ assets in the capital market is the cornerstone of decisions and a useful tool in various situations of job.

Mr. Ubosi said that valuation is useful in mergers, acquisitions and divestitures because it helps to set the price of an organization and to estimate and value synergies as well as to assess the potentials of different strategic options, among others.

“Another useful derivative of asset valuation before quote and during quote currency is to check out the asset stripping we’ve seen in organizations and businesses recently.

“The documents resulting from the assessment will certainly make this impossible because it will hold management to account.

“The valuation will also comment on the sub-optimal use of the asset which may lead to an undervaluation. Using primarily a market approach as a realignment of asset use can bring out hidden values ​​in the business in question.

“When companies want to raise funds, when they have to determine how much to raise as well as when they approach the negotiating table, assessments are necessary in all cases,” he said.

Mr Ubosi said that when there are honest valuations, it will boost investor confidence in the market, as investors can ensure that what is valued is real and nothing is hidden.

He said the role of capital market assessors in determining the value of the assets of such companies will ensure transparency, accountability and continuous improvement of investor confidence in the market.

“As the SEC emphatically acknowledges us that all capital market assessments are undertaken by our members, you will be assured that anytime a trader wishes to capitalize or recapitalize their assets, the valuation reports written by our members will help. to instill confidence in the process, ”he added.

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