Real estate is not about shinning buildings and awards/recognition ceremonies, often handed out on a platter and on a whim in the case of Nigeria. Of all the awards garnered, how come Nigeria real estate despite array of acclaimed professionals/practitioners remains one of the least appreciated by locals and foreigners alike?
However, given that Nigerians are legends in their own mind, no surprise that when confronted with obvious deplorable and unconscionable situations, they tend to put up fierce fight or wish it away with some joke?
Real Estate is about the physical environment of the subject property, in a setting that enhances the property for its use and enjoyment. When a neighborhood is bad as in most Nigeria situation, it does not matter how expensive it cost to build the home/house/improvements, it is down south from that point.
Drainage in Victoria Island
Neighborhood condition is core determinant for value of real property value and marketability. While Nigeria professionals/practitioners place weight on how much a property is worth/cost, US property value is basically determined by neighborhood condition regardless of what an owner may have put in such investment. Were such neighborhood condition requirement to apply, one can easily say the entire country of Nigeria as far as real property is concerned, is a ghetto given that hardly any neighborhood carries weight in enhancing property value.
In a 2-week visit to Nigeria Nov 20 thru Dec 2, I took time to visit real estate developments in PH, Owerri, Enugu, Lagos, Lekki, while I saw some impressive developments, majority are poorly done and so called rich people's neighborhoods are more like SLUM filled with what easily impressed persons/Nigerians consider as MANSIONS. It is horrid!
Nigerians' sense of doing well is reflected on how many cars, how big their house, number of trips abroad, drinking/eating at any and odd hours, parties for any and all things. Yet, they come out of homes and houses build on and around smelly and depressing environment. While Nigeria's physical environment begs attention, private homes of so called rich, depicts conditions likened to GHETTO. Who will bail the cat?
I often wonder, why Nigerians like FILTH, and become immune to and numbed by awful conditions that stare at them daily? Who lives like Nigerians and why is the world largest concentration of black people show case conditions that help deepen worldwide comments that 'Black folks have challenge getting it together'?
I am a proud Nigerian by birth and heritage, but People, can we do better? Parading degrees, titles and honors while the country is physically depressing is never something that will be overlooked or attract respect on a global scale. It is right there.
By Admiral Edward Okpa