Lagos State Governor, Babajide Sanwo-Olu, has called on stakeholders in the housing sector to adopt global best practices to minimize disasters in the industry.

Speaking at the Real Estate Market Place Conference and Exhibitions with the theme “Real Estate Regulation: A Panacea for Disaster Mitigation and Recovery in the Built Industry,” the governor emphasized the importance of embracing regulatory measures and insurance coverage against natural disasters.

Represented by the State Commissioner for Housing, Moruf Akinderu-Fatai, Governor Sanwo-Olu highlighted the necessity of stringent building codes and standards to ensure resilient structures capable of withstanding natural calamities.

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He emphasized the role of systematic zoning and land-use policies in planning urban spaces to steer development away from high-risk areas.

By prioritizing safety, enforcing building codes, and promoting transparency, stakeholders can contribute to creating resilient communities that can better withstand and recover from disasters, according to Governor Sanwo-Olu.

He called for collective efforts to advocate for robust real estate regulation to build a safer and more sustainable future.

Special Adviser to the Governor on Housing, Barakat Bakare, acknowledged the challenges facing the real estate sector, including building collapses, demolitions, fraud, and the inability to recoup investments.

She stressed the need for unity among stakeholders to consciously change the narrative and mitigate potential disasters in the sector.

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Bakare urged stakeholders to embrace regulations and compliance, emphasizing that adherence to established quality control measures and ethical principles is crucial.

By doing so, the sector can secure investments, guarantee returns, preserve lives, and avert major tragedies, she affirmed.