I Have A Feeling We Are Beginning To Get It Right

The event of these last few days are beginning to convince me we have started to get it right as a people.

I got back from Dubai last week. The development the country as gone through between 2002(the last time I was there)  and now is just enormous. Really, enormous is an understatement, the scale, the rate and the quality is just almost unimaginable. Yet, by there own acceptance where they are now is nothing compared to where they have envisioned to be in a couple years time.

Dubai is a living example of a country on the go. So many ongoing construction projects.  You can literally say there is no corner you turn to without some form of construction activity or the other; road, rail, housing, office complexes, airport, you name it. I understand the new airport site caters for about 10,000 construction hands, just imagine.

As a developer I couldn’t but imagine what life will be like as a developer in Dubai. Sure it will be an exciting ride. 

Every staying moment in Dubai and I wished it could be home. I mean Naija. But alas, Dubai is Dubai and Nigeria is Nigeria. But I take solace in the fact that I believe there is no better time to be alive in this Country than now especially because of the current happenings.

Did I hear you say what are those happenings? 

Let me share a few with you here.

The other day as a side talk one of my Directors was sharing the expected impact the mortgage assessment and rating system they are about introducing to the financial sector in Nigeria is to have on mortgage assessment and home refinancing in the country. It is amazing to think that we will soon have a centrally controlled mortgage bureau that will create a new skill set that has hitherto being begging for space in our financial sector is note worthy. It has been observed that a vibrant mortgage sector gives rise to a vibrant economy. This development therefore can only be a step in the right direction.

What do you think of  some banks coming together to contribute about N30billion in all as a mortgage fund for a state government. With this, the government intends to create about 25years mortgage for her citizens. But as a step beyond that I understand that a proposal is already in discussion on how the the state government can rise a bond on that that will be publicly traded on the floor of NSE by so doing take a life of its own and continues till perpetuity and serve greater number of people. This will be an improvement on the 6000 people N30billion will serve before it is exhausted and becomes difficult to get together as a lump sum again for another set of mortgage creation.    

Also, it seems to be that government is beginning to pay more serious attention to her pivotal role as the provider of enabling environment for all strata of business to flourish. Basic infrastructure like good road network, water and electricity are important to real estate development in and settlement.

See why I think we are beginning to get it right now?Not to worry, Rome was not built in a day. We are on the right path and it shouldn’t take forever either, because Rome was not built forever also.

See you at the top.

Cheers!