Real Estate Federation (FIABCI)-Nigeria chapter has encouraged professionals to seek and tap opportunities which blue economy offers. The federation listed cities/estates, blue commerce, blue capital, blue governance, and blue power in renewable energy as areas where these opportunities exist.
This advice was given, specifically, to members of the Federation at their 2025 general meeting in Lagos recently.
Ubong Essien, former special adviser to the former Director General of NIMASA on Communication and Strategy, who was keynote speaker at the meeting, estimated that, globally, blue economy is worth $1.5 trillion.
Essien said that Nigeria is well positioned to capture about 10 percent of the $1.5 trillion with the amount of water ecosystem spread across major states. He pointed out that 70 to 80 percent 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.
The meeting which witnessed the induction of new members had as theme, ‘The Blue Economy Revolution: Emerging Opportunities for Real Estate Players in Lagos.’
Essien said there exist about 10 buckets of blue economic opportunities which real estate practitioners can explore. These, he said, include blue cities/estates, blue commerce, blue climate, blue capital, blue talents, blue governance, blue power in the area of renewable energy and others.
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 is also the founder of Blue Economy Academy, challenged FIABCI members to go beyond advocacy to government but actively engage with authorities through policy implementation with regards to tapping the potential of the blue economy.
Read also: Real estate is a tangible asset that holds value and offers consistent returns on investment – Ajayi
Akin Opatola, FIABCI-Nigeria Chapter President, charged the 14 newly inducted members to uphold the core values of transparency and impeccable character in the discharge of their professional practice.
“You have to be professional in your transactions because with its 52 years existence, FIABCI-Nigeria chapter pays particular attention to the kind of people it admits as members,” Opatola advised.
“The screening is often rigorous to become a FIABCI member and so you should consider yourselves lucky. You need to guard your membership jealously and uphold the core values of collaboration, sincerity, transparency, and hardwork at the core of your practice. People should be able to see them and say they like the way you operate by showing leadership traits,” he added.
Opatola explained that, because FIABCI stands for innovation, the theme on 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 can think about the economy in line with the focus of the government in achieving $1 trillion economy it is trying to achieve,” he said, soliciting for 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.
Adeniji Adele, President, FIABCI-Africa and Near East, inducted the new members, appealing to them to abide by the mission statement of the association and stand tall in their professional journey.
He encouraged them to make use of FIABCI standards and ethics while practicing locally and internationally.
Adele stressed that FIABCI believes in innovation and integrity, adding that the level of integrity and behaviour matters for all of the members of the international organisation. He also encouraged them to take advantage of the opportunities which real estate offers professionals.
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