Rivers govt, investors say BusinessDay has begun economic revolution, pledge support
- +…Real estate players, investors outline plans to reduce 22m housing deficit
- +Ignatius Chukwu, Samuel Ese & Kelechi Nwaucha
Governor Sim Fubara of Rivers State has made a pledge to support initiativesss that will boost the economy of the State and promote real estate and housing sub-sector, saying BusinessDay has begun economic revolution to change narratives in the State.
Ignatius Chukwu, Samuel Ese & Kelechi Nwaucha
Governor Sim Fubara of Rivers State has made a pledge to support initiativesss that will boost the economy of the State and promote real estate and housing sub-sector, saying BusinessDay has begun economic revolution to change narratives in the State.
The governor spoke on Wednesday at the Banquet Hall of the Hotel Presidential while declaring open the first-ever BusinessDay South-East/South-South Real Estate Exhibition and Investment Summit, which focused on ‘Addressing Nigeria’s Housing Deficit with Innovative Solutions’.
Governor Fubara was represented by Gogo Benibo Frederick Anabraba, who was appointed on October 13, 2025 to replace Tammy Wenike Danagogo.
He was former Minority Leader in the Rivers State House of Assembly (representing Akuku-Toru Constituency II), and former Commissioner for Lands and Survey.
Governor Fubara said real estate, the driver of growth has been creating jobs, and is an economic development;
“Our administration is committed to reforms and solid foundation for the housing sector to grow. This event is timely and appropriate for developing the real Estate sector in the state and region. We are open to partnerships and innovative programmes.
“Rivers is a peace loving state and open to business. God is the beginning of everything.”
In his remarks, My-ACE China, known as the Mayor of Housing, said Housing solutions have to be innovative, smart to bridge the deficit. He said indigenous building materials, design and collaboration are necessary for the industry to thrive.
China also decried service charge, saying it had replaced rent to landlords; “Service Charge, high Rent militating against housing development. Fubara has made innovative decisions for housing to thrive. BusinessDay has started a revolution in Port Harcourt through its housing summit. Oil City is going back to Garden City status.
“BusinessDay has started a revolution in Port Harcourt through its housing summit”. In an interview outside the hall, China outlined things and measures the state government must follow to meet the housing gap.”
Speaking in equally glowing terms, a chief and bishop, who is the managing director of Pineleaf real estate group, Onyekachi Nzekwesi, commended BusinessDay for the summit and the award to his firm. He pointed out that quacks are a danger to the ‘Built environment’.
Bolaji Oshobukola, CEO of Odibola Oshobukola said access to finance and structured financing were important to bridge the housing deficit.
“Mortgage and Access to funds are important to achieve affordable housing. Government must partner with private sector to achieve affordable housing. Documentation and title must be streamlined by government.”
In his keynote, Mustapha Njie, CEO of TAF Africa Global, said challenges in housing sector offer opportunities for innovative solutions – Mustafa, saying: “Nigeria housing crisis is a huge opportunity for entrepreneurs. 500,000 houses needed every year for the next (20) years in Nigeria, and that 850,000 cubic meters of sand-filled land for Gulf Estate was met when he came to Rivers State in 2011.
He named other challenges as: ‘home financing, documentation, and access to land as issues for the sector. Middle income group was where the gap was, not luxury or low income”.
He said “PPP in Gulf-Rivtaf estate is an example of PPP (with the Amaechi administration). We create cities, our PPP projects are always away from the city”
He mentioned key challenges as ‘Govt policy constituency, infrastructure, high cost of materials, and public distrust”.
He said Nigeria’s Human resource capacity can provide solution to housing deficit with infrastructure’s 15% can be deployed to boost funding. “Prefab, flexible payment plans can boost housing needed.”
Minister of Housing and Urban Development, Musa Dangiwa, who was represented by Queen Takiri, called for funding solution as part of the innovation being sought after. She commended BusinessDay for turning attention to addressing Nigeria’s housing problem.
“Housing is achieving Economic growth and national development. Tinubu administration is moving towards a coordinated housing solution. Renew Hope Cities, Renew Hope Housing, Housing Estate to address housing deficit and delivery.”
She said Nigeria required PPP to address housing needs, saying strengthening housing finance through National Mortgage agency, structural reforms, land administration, to improve land titling and documentation would help.”
