Innocent Okoro urges shift from land speculation to value creation

Dr. Innocent Okoro, a Fellow of the Nigerian Institution of Valuers, has advised real estate investors to prioritize productive development and effective execution over simple land speculation. Speaking at the Real Estate Expo Symposium during the 88th anniversary of the Ikoyi Club 1938 in Lagos, Okoro noted that Nigeria’s real estate sector faces significant opportunities driven by urbanization, population growth, and housing demand.

Okoro emphasized that infrastructure projects, such as roads, rail, power, and water, are primary determinants of property value. He encouraged investors to follow the infrastructure pipeline to identify future value corridors. While noting that technology like artificial intelligence, drones, and data analytics is transforming the sector, he warned that these tools are also being used to facilitate fraud through fake listings and doctored documents.

To address housing challenges, Okoro called for increased collaboration between the government, financial institutions, and developers to improve access to affordable homeownership. He also recommended the use of local building materials and urged greater participation from pension funds, insurance companies, and private equity in property financing.