Akindele Afolabi, CEO, Adamakin Investment and works Limited said the Tax Reform Bills of the federal government is set to make a significant impact in Nigeria’s real estate sector.
Afolabi who disclosed this at the 137th remembrance ceremony of Iyalode Efunroye Tinubu in Lagos highlighted the role of tax reforms in unlocking the economic potential tied to real estate, lamenting the need for proper land title registration in all states.
He said the reforms will not only generate revenue but also enhance mortgage accessibility and improve property investments.
“The real estate business in Nigeria is a locked-down wealth. If every state can ensure land titles are registered in their respective land registries, it will improve financial systems, attract investments, and strengthen mortgage insurance,” Afolabi said.
The CEO also decried the imposition of embargoes on properties by the Lagos State Government.
He explained that imposing embargoes on properties will deter investors and undermine the economic potential of the sector.
Meanwhile, he cited the achievements of the late Efunroye Tinubu, a business and political figure calling on Nigerian women to draw inspiration from her remarkable achievements.
He said the event served as a platform to inspire younger generations, particularly women, to break barriers and strive for excellence in all spheres of life.
“Efunroye Tinubu was the first black woman to challenge the belief that African women were limited by native customs. She debunked these myths during the Victorian era, a time when even Western women faced severe restrictions, including being denied the right to vote,” he added.
Akindele urged Nigerian women to emulate Tinubu’s industrious spirit, emphasising that success is achievable regardless of economic or social limitations.
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