In a bid to creating a housing landscape that not only meets the needs of the citizens but also contributes to a sustainable and prosperous future for all, professionals in the mortgage and real estate sector has proposed introducing mortgage financing as a course of study in the university
The Professions made this proposal at the first national conference of the Institute of Mortgage Brokers and Lenders of Nigeria (IMBLN), held on Thursday 16th November, in Abuja.
The management said the Act establishing the institute empowers it to regulate real estate, mortgage professionals and developers in the industry,
According to Adeleye “the Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN) is a body responsible for the regulation and certification of all mortgage professionals, real estate practitioners, and agents in Nigeria with the intention to eliminate fraudsters from the industry by providing Training, Certification, and Licensing for practitioners.”
He added that the purpose of the conference was to show case the quality of what the institute entails and see how to ensure professionalism in the system.
Reacting to the 2020 Act established, he said the institute empowers it as the only body responsible to regulate the sector with the intention to eliminate unlicensed practitioners.
He disclosed that Professionals in the industry are scarce as such there is need to collaborate to ensure the success of the industry
In his presentation, the lead paper presenter, Professor of Capital Market, Nasarawa State University, Uche Uwaleke said the “housing has been universally recognised as the most essential necessities of human life and is a major economic asset in every country”
Prof. Uwaleke added that the mortgage industry plays a pivotal role in a country’s overall development by empowering individuals and families to achieve home ownership, fostering stable communities and driving economic growth
“In Nigeria the mortgage sector valued at over 6.4 trillion. It holds immense potential to do the nation’s economic progress.”
He lamented that despite the recognised economic and social importance, housing financing is still underdeveloped in Nigeria and faces several challenges including shortage of skilled professionals
Speaking on the theme:Towards a Sustainable real estate and mortgage industry in Nigeria, the lead paper presenter said through a comprehensive and collaborative approach, professionals in the real estate space can help address the housing shortage in Nigeria